Merlin Announces Public Debut Through SPAC Merger with Inflection Point

Merlin, a frontrunner in the development of assured, autonomous flight technology for defense applications, has entered into a definitive business combination agreement with Bleichroeder Acquisition Corp. I, a special purpose acquisition company (SPAC) led by Inflection Point Asset Management. This strategic move, valuing Merlin at $800 million pre-money, is poised to close in early 2026, pending regulatory and shareholder approvals. The transaction underscores Merlin's pivotal role in advancing AI-driven aviation solutions for national security and beyond.

The merger is bolstered by over $125 million in committed PIPE capital, with $78 million already secured at the agreement's signing. This financial infusion is expected to accelerate Merlin's growth trajectory, enabling the expansion of its innovative Merlin Pilot system across a diverse range of aircraft, from large military planes like the C-130J and KC-135 to small handheld drones. Merlin's technology, which is on track to be the first AI skill certified on an aircraft, represents a leap forward in autonomous flight, offering a unified autonomy system that promises to revolutionize both military and commercial aviation.

Merlin's recent achievements include a $105 million contract with the United States Special Operations Command and a partnership with the United States Air Force, highlighting the company's critical role in national defense. Additionally, Merlin's collaboration with industry giants such as Northrop Grumman and Honeywell, along with its ongoing certification flight testing in New Zealand, positions the company as a leader in the autonomous flight technology space.

Matt George, Merlin's CEO and founder, emphasized the significance of going public as a means to further the company's mission of delivering defense-grade autonomy. The partnership with Inflection Point, known for its successful track record with companies like Intuitive Machines and USA Rare Earth, is seen as a testament to Merlin's potential to become a national asset in aerospace and defense.

The transaction is expected to provide Merlin with at least $128 million in gross proceeds, with the possibility of up to $257 million, depending on redemptions. These funds will be directed towards technology development, customer capability expansion, strategic acquisitions, and talent acquisition in key areas such as avionics and machine learning. With the unanimous approval of both Merlin's and Bleichroeder's Boards of Directors, the deal marks a significant step forward in the commercialization of autonomous flight technology.

For more information on Merlin's groundbreaking work in autonomous flight technology, visit https://www.merlinlabs.com.