Inflection Point Acquisition Corp. VII (IPXG) News & EventsIPXGInflection Point Acquisition Corp. VII

Elroy Air Appoints Jeremy Hux as CFO

Elroy Air, a leading U.S.-based technology developer of autonomous heavy-cargo drones for defense, rapid response and commercial logistics, today announced that it has named Jeremy Hux Chief Financial Officer, effective immediately. In June, Elroy Air announced that it has entered into a definitive business combination agreement with Inflection Point Acquisition Corp. VII, a special purpose acquisition company led by the management team of Inflection Point Asset Management and Cohen & Company, Inc.

Elroy Air Expands PIPE Commitments to $175M

Elroy Air has expanded its previously-disclosed PIPE commitments, increasing the total to $175M. Existing investors including Lockheed Martin Ventures and Inflection Point participated and $75M has now been funded prior to the closing of the Business Combination Agreement between Elroy Air and Inflection Point Acquisition Corp. VII. Lockheed Martin and Elroy Air intend to collaborate on a number of initiatives including advanced autonomous systems and joint business development across both commercial and defense markets.