Merlin to go public through Inflection Point Acquisition Corp IV combination

Merlin and Bleichroeder Acquisition Corp., which will be renamed Inflection Point Acquisition Corp IV (BACQ), announced that they have entered into a definitive business combination agreement. The proposed transaction is expected to close in early 2026, subject to customary closing conditions, including regulatory and shareholder approval. The deal values Merlin at $800M pre-money, and has over $125M in committed PIPE capital, $78M of which has been funded at the BCA signing to further accelerate growth. The business combination is expected to deliver gross proceeds of at least $128M from the committed PIPE, with up to $257M additional proceeds depending on redemptions. The boards of directors of both Merlin and Bleichroeder have unanimously approved the proposed transaction. The deal is expected to close in early 2026, subject to customary closing conditions, including approval by Bleichroeder shareholders and regulatory review.