Every 424B that Merlin, Inc. (MRLN) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow MRLN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MRLN filings page.
Merlin, Inc. (MRLN) filed a prospectus supplement that incorporates its Form 10‑Q for the quarter ended June 30, 2026 into its existing S‑1 registration statement. The company develops AI-based autonomous flight software and completed a SPAC merger with Inflection Point in March 2026.
Merlin reported Q2 2026 revenue of $2.2 million, down from $3.1 million a year earlier, and a Q2 net loss of $58.4 million. For the first six months, revenue was $3.2 million with a net loss of $148.8 million, driven by large increases in research and development and general and administrative expenses, as well as fair‑value impacts from financing instruments.
At June 30, 2026, Merlin held $183.6 million in cash and cash equivalents, largely from the SPAC-related PIPE financing and a May 2026 PIPE that raised $80 million. Operating cash outflow was $50.9 million for the first half. The company reported warrant liabilities of $130.1 million and a stockholders’ deficit of $99.9 million, but states its liquidity is sufficient to fund operations for at least 12 months. Most revenue comes from U.S. government contracts, with remaining performance obligations of $0.6 million expected to be recognized within a year.
Merlin, Inc. (MRLN) filed a prospectus supplement to its Form S-1 to incorporate its Quarterly Report for the period ended June 30, 2026. Merlin develops AI-powered autonomous flight software for military and civil aircraft and is listed on Nasdaq under the symbol MRLN.
For Q2 2026, Merlin generated $2.2 million of revenue, primarily from U.S. government customers, and reported a net loss attributable to common stockholders of $127.5 million, including significant Series A preferred dividends and a deemed down-round dividend. For the first half of 2026, the net loss attributable to common stockholders was $219.3 million.
As of June 30, 2026, Merlin held $183.6 million in cash and cash equivalents and reported total assets of $207.0 million against warrant liabilities of $130.1 million and a stockholders’ deficit of $99.9 million. Operating cash outflows were $50.9 million for the first six months of 2026, but merger- and PIPE-related financings provided $181.5 million of cash, and management concluded liquidity is sufficient for at least 12 months from issuance.
Merlin, Inc. filed a prospectus supplement to its Registration Statement on Form S-1 that updates and supplements the Prospectus dated May 13, 2026, and furnished its Form 10-Q for the quarter ended March 31, 2026. The filings state the company’s Nasdaq symbol is MRLN and give a closing share price of $7.18 on June 1, 2026.
The Form 10-Q shows revenue of $1,002 for the three months ended March 31, 2026, a net loss of $90,419, and cash and cash equivalents of $122,777 as of that date. The filings disclose completion of a business combination (the Merger), related PIPE financings (including $120,000 gross from the Closing PIPE and a subsequent $80,000 PIPE on May 1, 2026), and balance-sheet impacts such as Series A Preferred Stock outstanding and warrant liabilities.
Merlin, Inc. updated its S-1 prospectus supplement and filed a Form 10-Q for the quarter ended March 31, 2026. The company reported $1,002 in revenue for the quarter and a net loss of $(90,419). Cash and cash equivalents were $122,777 as of March 31, 2026. The balance sheet shows total assets of $145,376 and stockholders' deficit of $(139,113). As of May 13, 2026, there were 96,524,052 shares outstanding. The filing discloses completion of a March 16, 2026 reverse recapitalization/merger, issuance of Series A Preferred Stock (21,711,880 shares outstanding), conversion of various bridge notes and warrants in connection with PIPE financing, and redemption/prepayment of prior loans using Merger proceeds.
Merlin, Inc. is registering for resale up to 13,336,000 shares of Common Stock for resale by a Selling Stockholder (consisting of 8,000,000 PIPE Shares and up to 5,336,000 Warrant Shares issuable upon exercise of a PIPE Warrant). The Resale Shares may be sold from time to time at prevailing market or negotiated prices.
The Company will not receive proceeds from the resale of the Resale Shares; however, if the PIPE Warrant is exercised for cash, the Company states it would receive aggregate proceeds of approximately $26.7 million. The PIPE closed for aggregate gross proceeds of $80,000,000 and the prospectus discloses a current PIPE Warrant exercise price of $6.67 per share. The Common Stock trades on Nasdaq under the symbol MRLN; the prospectus shows a closing price of $8.97 on May 5, 2026.
Merlin, Inc. registers up to 66,813,783 shares of Common Stock to be issued by the company and up to 157,700,431 shares of Common Stock for resale by selling securityholders (including up to 736,744 shares of Series A Preferred Stock and 760,232 Series A Warrants).
This prospectus covers primary issuances (conversion of Series A Preferred Stock, exercise of Series A Warrants, advisor and option issuances) and resale registration rights for selling securityholders to sell their Resale Securities from time to time. The company will receive proceeds only from any cash exercise of Series A Warrants; aggregate cash proceeds if all Series A Warrants were exercised for cash were estimated at $253.9 million in the prospectus.