Merlin to go public via $800M SPAC deal with Inflection Point’s BACQ

Bleichroeder Acquisition Corp. I has entered into a definitive agreement to merge with Merlin, valuing the company at $800 million, with substantial PIPE funding of over $125 million secured.

Merlin develops aircraft-agnostic AI flight systems for defense and civil aviation, with significant contracts, including a $105 million agreement with the U.S. Special Operations Command for the C-130J aircraft.

The merger, sponsored by Inflection Point, may yield up to $257 million in additional funds subject to SPAC redemption rates, which will be used for technology advancement, customer deliveries, acquisitions, and talent development.

Business Combination Agreement Between Bleichroeder Acquisition Corp. I and Merlin: A $800 Million Valuation

Bleichroeder Acquisition Corp. I (NASDAQ:BACQ) has officially entered into a definitive agreement to combine with Merlin, a company valued at an impressive $800 million before funding. The deal has secured over $125 million in committed PIPE funding, with $78 million already finalized at the signing stage. The transaction is anticipated to be completed in early 2026.

Merlin specializes in creating aircraft-agnostic artificial intelligence flight systems, catering to both defense and civil aviation sectors. Notably, the company has established contracts with the United States Special Operations Command (USSOCOM), amounting to $105 million for the C-130J aircraft, as well as integration services for the KC-135 with the U.S. Air Force (USAF).

The SPAC sponsor, Inflection Point, has a notable history of backing emerging ventures, including Intuitive Machines (LUNR) and USA Rare Earth. There is potential for up to $257 million in additional proceeds, contingent on the rate of SPAC redemptions.

The funds raised through this business combination will be allocated to advancing technology development, facilitating customer deliveries, pursuing acquisitions, and fostering talent growth.

Source: Press Release