Inflection Point Acquisition Corp IV SEC Filings

Inflection Point Acquisition Corp. IV (BACQ) filed a communication featuring a Merlin Labs press release announcing several senior hires as the company prepares to go public through a business combination with BACQ. Merlin named Leslie Ravestein as Chief Legal Officer, David Lasater as Chief People Officer, and Pablo Gonzalez as Senior Vice President of Engineering. The new leaders are tasked with strengthening legal and compliance functions, talent strategy, and engineering execution ahead of Merlin’s planned public listing next year.

Merlin develops assured, autonomous flight technology for defense and civil aviation and reports having $100M+ in total awarded contracts from military customers. The communication also includes standard forward-looking statement disclosures and explains that a Form S-4 registration statement and proxy statement/prospectus will be filed for shareholder approval of the proposed business combination.

Inflection Point Acquisition Corp. IV highlighted that aviation autonomy company Merlin has upsized its private investment in public equity (PIPE) financing to more than $200 million ahead of their planned business combination and public listing. Merlin initially secured $125 million in committed PIPE capital at an $800 million pre-money valuation, led by Inflection Point Asset Management, and has now added over $75 million, including $100 million from Inflection Point. Merlin plans to use the added capital to strengthen its balance sheet at closing, expand U.S. defense programs and aircraft integrations, pursue acquisitions, and increase hiring. The company develops AI-powered flight autonomy software and reports an estimated $3 billion identified revenue pipeline, citing awarded military contracts and ambitions to scale across transport, tanker, turboprop, and future uncrewed and collaborative combat aircraft.

Inflection Point Acquisition Corp. IV announced a significant expansion of its private investment in public equity for the proposed business combination with Merlin Labs. The lead investor increased its commitment from $50,000,000 to $100,000,000, for 9,803,922 shares of 12.0% Series A Cumulative Convertible Preferred Stock and a matching warrant package at Closing. Additional accredited investors agreed to buy 1,666,668 more preferred shares with related warrants in a separate private placement on substantially the same terms. Merlin Labs also sold an additional Pre-Funded Convertible Note with approximately $10,900,000 principal for about $9,300,000, adding to roughly $55,000,000 of similar notes previously issued. These securities are being sold in unregistered offerings relying on Section 4(a)(2), and the overall deal remains subject to shareholder approval and completion of the business combination.

Inflection Point Acquisition Corp. IV amended its financing agreements tied to its planned business combination with Merlin Labs, significantly expanding committed capital. The primary PIPE investor increased its commitment from $50,000,000 to $100,000,000 in New Merlin Labs 12.0% Series A Cumulative Convertible Preferred Stock, together with related warrants. Additional accredited investors agreed to purchase an aggregate 1,666,668 shares of the same preferred stock plus warrants in a separate private placement on similar terms. Merlin Labs also issued an additional Pre-Funded Convertible Note for approximately $10,900,000 in principal, purchased for approximately $9,300,000, along with a Pre-Funded Warrant. All of these securities are being sold in unregistered private offerings relying on Section 4(a)(2) of the Securities Act.

Inflection Point Acquisition Corp. IV (BACQ) filed its Q3 2025 report, highlighting progress toward a merger with Merlin Labs and routine SPAC financial activity. The company entered a Business Combination Agreement with Merlin Labs on August 13, 2025, with aggregate consideration based on a $800,000,000 purchase price divided by the per‑share redemption price.

For Q3, net income was $83,694, as interest on the trust offset operating costs. General and administrative expenses were $2,615,816, while interest on the Trust Account contributed $2,685,470. Year‑to‑date net income reached $4,809,256, supported by $7,973,982 of trust interest.

Assets in the Trust Account were $259,730,180 as of September 30, 2025, and Class A shares subject to redemption were carried at approximately $10.39 per share. Cash was $1,049,403 with a working capital deficit of $1,794,983. The filing notes substantial doubt about the company’s ability to continue as a going concern absent a completed business combination before the current deadline of November 6, 2026. The agreement includes a planned domestication to Delaware and financing arrangements such as approximately $78 million in pre‑funded convertible notes and a $50,000,000 Series A Preferred Stock investment at closing.

Inflection Point Acquisition Corp. IV (NASDAQ: BACQ) filed a Rule 425 communication featuring Merlin Labs’ announcement that it appointed Ryan Carrithers as Chief Financial Officer as the company prepares to go public via a business combination with BACQ.

Merlin cited a $800 million pre-money valuation and over $125 million of PIPE capital committed as it advances toward its public company transition. The company highlighted more than $100 million in contracted programs, partnerships with the U.S. Department of Defense on KC-135 and C-130J integrations, and collaborations with Northrop Grumman and GE Aerospace. Carrithers brings experience from Astra, KUKA, and most recently Ginkgo Bioworks, and will lead finance, investor relations, and capital markets engagement.

Merlin Labs announced it has achieved Stage of Involvement 2 (SOI 2) with the Civil Aviation Authority of New Zealand, a key checkpoint in the DO-178 software certification cycle for its Merlin Pilot autonomy system. This update was shared in a Rule 425 communication by Inflection Point Acquisition Corp. IV (BACQ) related to their proposed business combination.

SOI 2 indicates that approximately 50 percent of the Flight Control Computer software data has been formally reviewed, giving regulators deeper visibility into execution against plans accepted at SOI 1. The certification effort supports Merlin’s Supplemental Type Certificate program for the Cessna Grand Caravan 208B, on a concurrent validation pathway with the FAA under the Bilateral Aviation Safety Agreement.

Merlin highlights $100M+ in awarded military contracts and partnerships with industry leaders as it advances toward certification and potential real-world operations.

Inflection Point Acquisition Corp. IV (BACQ) filed a Rule 425 communication featuring Merlin’s new Cooperative Research and Development Agreement with the U.S. Air Force. The CRADA focuses on enhancing the Autonomy-Government Reference Architecture (A-GRA) to strengthen autonomous contingency management for next‑generation uncrewed and collaborative air systems.

Merlin and the USAF plan to advance autonomous fault detection, recovery, and dynamic mission adaptation using open, modular solutions applicable across future platforms. The announcement also references Merlin’s path to go public via a business combination with BACQ. Merlin notes $100M+ in total awarded military contracts as it develops assured, autonomous flight technology aimed at improving mission assurance and reducing operator workload in contested and degraded environments.

Inflection Point Acquisition Corp. IV (NASDAQ: BACQ) reported shareholder approval of two proposals at an extraordinary general meeting on October 21, 2025. Shareholders approved changing the company’s name from “Bleichroeder Acquisition Corp. I” to “Inflection Point Acquisition Corp. IV” and an amendment to the Articles permitting the company to redeem public shares earlier in connection with commencing procedures to consummate a proposed business combination if the board determines it is desirable.

A quorum of 27,386,442 (81.125%) issued and outstanding ordinary shares was present, including 19,053,109 Class A and 8,333,333 Class B shares as of the September 15, 2025 record date. The name change passed with 27,386,302 For, 125 Against, 15 Abstain. The Article 50.5 amendment passed with 24,204,477 For, 160 Against, 201 Abstain. An adjournment vote was not required.