Business
Merlin to Go Public via Business Combination with Inflection Point-led SPAC as Leading Defense Prime Contractor for AI in Aviation
Transaction values Merlin at $800 million pre-money and is designed to drive rapid capability delivery for customers as well as bolster strategic acquisition
About this update from Merlin, Inc.
[{"type":"text","content":"\n\nTransaction values Merlin at $800 million pre-money and is designed to drive rapid capability delivery for customers as well as bolster strategic acquisition pipeline\n\n\n\nOver $125 million of capital committed, anchored by Inflection Point fund, existing Merlin investors including Baillie Gifford, and several new institutional investors\n\n\n\nThe transaction positions Merlin to scale critical AI-enabled autonomous flight capabilities while continuing to support national security in a rapidly evolving defense landscape\n\n\n\nInflection Point's track record of closing successful SPAC deals includes Intuitive Machines and USA Rare Earth\n\n\n\n BOSTON--(BUSINESS WIRE)--\nMerlin, a leading developer of assured, autonomous flight technology for defense customers, and Bleichroeder Acquisition Corp. I (BAC), a SPAC led and backed by the management team of Inflection Point Asset Management (Inflection Point), which will be renamed Inflection Point Acquisition Corp IV (Nasdaq: BACQ), announced today that they have entered into a definitive business combination agreement (BCA). The proposed transaction is expected to close in early 2026, subject to customary closing conditions, including regulatory and shareholder approval. As the leading defense prime contractor for AI in aviation, the deal values Merlin at $800 million pre-money, and has over $125 million in committed PIPE capital, $78 million of which has been funded at the BCA signing to further accelerate growth.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250814418852/en/Air Force C-130J aircraft. (Airman 1st Class Rhett Isbell/Air Force)\nMerlin is a leader in developing aircraft-agnostic autonomy for national security applications, with a dual-track civil certification program that has the company on pace to be the first to certify an AI skill on an aircraft. In its march towards delivering assured, embodied AI, Merlin is working hand in hand with customers so that the Merlin Pilot is appropriately scoped in relation to contracts, certification packages, and customer rules. Implemented today on five dissimilar aircraft types, the company plans to continue to expand the Merlin Pilot’s use across large aircraft (like the current C-130J and KC-135 programs), down to small handheld drones leveraging one unifi...