[425] Bleichroeder Acquisition Corp. I Business Combination Communication

Rhea-AI Filing Summary

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.

Insights

Aerospace & Defense Strategist

USAF CRADA underscores technical validation; financial impact unquantified.

The CRADA signals that Merlin will collaborate with the USAF on A-GRA enhancements for autonomous contingency management. This aligns with Merlin’s core competencies in autonomy architecture and human‑machine teaming, offering government-led frameworks that can scale across platforms.

Because the disclosure provides no contract value or timeline, immediate revenue effects are not indicated. The filing also references Merlin’s planned combination with Inflection Point Acquisition Corp. IV (BACQ), positioning the CRADA as strategic context rather than a quantified driver.

Key facts include Merlin’s $100M+ in total awarded military contracts and the focus on open, modular autonomy. Any commercialization or deployment cadence would depend on subsequent program decisions and future disclosures.

Filed by Inflection Point Acquisition Corp. IV

Pursuant to Rule 425 under the Securities Act of 1933

and deemed filed pursuant to 14a-12 under the

Securities Exchange Act of 1934

Commission File No.: 001-42392

Subject Company: Inflection Point Acquisition Corp. IV

Date: October 22, 2025

Set forth below is a press release issued by Merlin Labs, Inc. on October 22, 2025, discussing the signing of a Cooperative Research and Development Agreement with the United States Air Force.

Merlin Collaborates with United States Air Force to Advance Autonomous Contingency Management Capabilities

The collaboration will focus on enhancing the government’s Autonomy-Government Reference Architecture (A-GRA) to support advanced contingency management for next-generation uncrewed and collaborative air systems

Boston, Mass. — October 22, 2025 — Merlin, a leading developer of assured, autonomous flight technology for defense customers, today announced the signing of a Cooperative Research and Development Agreement (CRADA) with the United States Air Force (USAF) to advance autonomous capabilities that will improve mission resilience and adaptability in contested and degraded environments. The work will combine operational insight from the USAF with Merlin’s expertise in autonomy architecture, human-machine teaming, and advanced mission software, leveraging the company’s position as the leading defense prime contractor for AI in aviation and its recently announced path to go public through a business combination with Inflection Point Acquisition Corp. IV (Nasdaq: BACQ) to accelerate autonomy on military platforms. The result of this work will be design enhancements that improve mission assurance, reduce operator workload, and create greater survivability across diverse operational scenarios.

Merlin and the USAF will explore new approaches to autonomous fault detection, recovery, and dynamic mission adaptation, enabling aircraft to respond more effectively to unexpected events, system degradations, or operational changes. The collaboration will emphasize open, modular solutions designed to benefit a wide range of future USAF and industry platforms, reinforcing the value of government-owned architectures and shared technical frameworks.

“Contingency management is essential to achieving the Air Force’s vision of trusted, resilient autonomy,” said Chris Gentile, General Manager for Tactical Autonomy, Merlin. “Through this collaboration, we can align Merlin’s expertise with the USAF’s operational priorities, helping to define autonomy standards that strengthen the entire defense ecosystem. This partnership reflects our shared commitment to advancing capabilities that allow collaborative air platforms to operate safely, adapt in real-time, and complete missions even in the most challenging conditions.”

"To maintain our strategic advantage, the Air Force must leverage the ingenuity of industry partners like Merlin,” said Major Dustin Graves, AFWERX. “This CRADA will help us build on a common, government-owned architecture for autonomous systems, ensuring interoperability, accelerating innovation, and ultimately, delivering resilient and adaptable capabilities to our warfighters."

About Merlin

Merlin is the leading U.S.-based developer of cost-effective, takeoff-to-touchdown autonomy for both legacy and next-generation airborne systems. Our aircraft-agnostic, AI-powered software is purpose-built for military and civil programs, and is powering an expanding range of missions and aircraft, proven through hundreds of autonomous flights from test facilities across the globe. With $100M+ total in awarded contracts from military customers, Merlin is helping to solve national security challenges through safe, reliable autonomy. To learn more, visit www.merlinlabs.com or follow us on X @merlinaero.

About Inflection Point Acquisition Corp. IV

Inflection Point Acquisition Corp IV, is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

Media Contact

Kate Gundry
617-842-6064

merlin@pluckpr.com

Forward-Looking Statements

Certain statements made herein are not historical facts but may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” or the negatives of these terms or variations of them or similar terminology or expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding future events, the proposed business combination between Inflection Point Acquisition Corp. IV (“Inflection Point”) and Merlin Labs, Inc. (“Merlin”), the estimated or anticipated future results and benefits of the combined company following the business combination, including the likelihood and ability of the parties to successfully consummate the business combination, future opportunities for the combined company and other statements that are not historical facts.

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These statements are based on the current expectations of Inflection Point and/or Merlin’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Inflection Point and Merlin. These statements are subject to a number of risks and uncertainties regarding Merlin’s business and the business combination, and actual results may differ materially. These risks and uncertainties include, but are not limited to: general economic, political and business conditions; the inability of the parties to consummate the business combination or the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination agreement; the number of redemption requests made by Inflection Point’s shareholders in connection with the business combination; the outcome of any legal proceedings that may be instituted against the parties following the announcement of the business combination; the risk that the approval of the shareholders of Merlin or Inflection Point for the potential transaction is not obtained; failure to realize the anticipated benefits of the business combination, including as a result of a delay in consummating the potential transaction; the risk that the business combination disrupts current plans and operations as a result of the announcement and consummation of the business combination; the risks related to the rollout of Merlin’s business and the timing of expected business milestones; the effects of competition on Merlin’s business; the ability of the combined company to execute its growth strategy, manage growth profitably and retain its key employees; the ability of the combined company to obtain or maintain the listing of its securities on a U.S. national securities exchange following the business combination; costs related to the business combination; and other risks that will be detailed from time to time in filings with the U.S. Securities and Exchange Commission (the “SEC”). The foregoing list of risk factors is not exhaustive. There may be additional risks that Merlin and Inflection Point presently do not know or that Merlin and Inflection Point currently believe are immaterial that could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements provide Merlin’s and/or Inflection Point’s expectations, plans or forecasts of future events and views as of the date of this communication. Merlin and Inflection Point anticipate that subsequent events and developments will cause their assessments to change. However, while Merlin and/or Inflection Point may elect to update these forward-looking statements in the future, Merlin and Inflection Point specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Merlin’s or Inflection Point’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements. Nothing herein should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or results of such forward-looking statements will be achieved.

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Additional Information and Where to Find It

The business combination will be submitted to shareholders of Inflection Point for their consideration. In connection with the business combination, Inflection Point intends to file a registration statement on Form S-4 (the “Registration Statement”) with the SEC, which will include a proxy statement/prospectus and certain other related documents, which will serve as both the proxy statement to be distributed to its shareholders in connection with its solicitation for proxies for the vote by its shareholders in connection with the business combination and other matters to be described in the Registration Statement, as well as the prospectus relating to the offer and sale of the securities to be issued to Merlin’s equityholders in connection with the completion of the business combination. After the Registration Statement is declared effective, Inflection Point will mail a definitive proxy statement and other relevant documents to its shareholders as of the record date established for voting on the business combination. This communication is not a substitute for the Registration Statement, the definitive proxy statement/prospectus or any other document that Inflection Point will send to its shareholders in connection with the business combination.

INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ, WHEN AVAILABLE, THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION AND THE PARTIES TO THE BUSINESS COMBINATION. Investors and security holders will be able to obtain copies of these documents (if and when available) and other documents filed with the SEC free of charge at www.sec.gov. The definitive proxy statement/final prospectus (if and when available) will be mailed to shareholders of Inflection Point as of a record date to be established for voting on the business combination. Shareholders of Inflection Point will also be able to obtain copies of the proxy statement/prospectus without charge, once available, at the SEC’s website at www.sec.gov

Participants in the Solicitation

Inflection Point and its directors, executive officers, and other members of management, and consultants, under SEC rules, may be deemed participants in the solicitation of proxies from Inflection Point’s stockholders with respect to the business combination. A list of the names of those directors and executive officers and a description of their interests in Inflection Point is contained in the sections entitled “Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters” and “Directors, Executive Officers and Corporate Governance — Conflicts of Interest” of Inflection Point’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on March 10, 2025, and which is available free of charge at the SEC’s website at www.sec.gov, and supplemented by the Current Report on Form 8-K filed with the SEC on July 11, 2025, and which is available free of charge at the SEC’s website at www.sec.gov. Additional information regarding the interests of such participants will be contained in the Registration Statement when available.

Merlin, its directors, executive officers, other members of management, and employees, under SEC rules, may be deemed participants in the solicitation of proxies of Inflection Point’s shareholders in connection with the business combination. A list of the names of such directors and executive officers and information regarding their interests in the business combination will be included in the Registration Statement when available.

No Offer or Solicitation

This communication is for informational purposes only and is not (i) an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy any securities, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law nor (ii) the solicitation of any vote in any jurisdiction pursuant to the business combination or otherwise. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act. No securities commission or securities regulatory authority in the United States or any other jurisdiction has in any way passed upon the merits of the business combination or the accuracy or adequacy of this communication.

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FAQ

What did BACQ disclose about Merlin in this Rule 425 filing?

It shared Merlin’s signing of a USAF CRADA to enhance A-GRA for autonomous contingency management, alongside Merlin’s planned business combination with BACQ.

What is the focus of Merlin’s CRADA with the USAF?

Advancing autonomous fault detection, recovery, and dynamic mission adaptation using open, modular architectures applicable across future platforms.

Does the CRADA include financial terms or revenue for BACQ or Merlin?

No financial terms are stated in the communication. It highlights collaboration scope and technical objectives, not contract value.

How does this relate to Inflection Point Acquisition Corp. IV (BACQ)?

The communication references Merlin’s path to go public via a business combination with BACQ and provides context on Merlin’s defense autonomy work.

What capabilities will the collaboration emphasize?

Open, modular solutions for contingency management to improve mission assurance, reduce operator workload, and enhance survivability.

What prior traction does Merlin cite in defense?

Merlin cites $100M+ in total awarded military contracts and hundreds of autonomous flights across global test facilities.

Where can BACQ shareholders find more details on the business combination?

The parties plan to file an S-4 with the SEC. Once effective, a definitive proxy statement/prospectus will be mailed and available at www.sec.gov.