Welcome to our dedicated page for Inflection Point Acquisition IV SEC filings (Ticker: BACQR), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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Merlin, Inc. is registering a primary offering of 66,813,783 shares of common stock alongside a secondary resale of 157,700,431 common shares, plus 736,744 Series A Preferred shares and 760,232 Series A Warrants. The primary shares include stock issuable from converting 21,711,872 shares of 12.0% Series A Preferred Stock, exercising Series A Warrants and options, and issuing shares to advisers. The resale shares represent about 65.1% of Merlin’s fully diluted common stock, creating substantial potential selling pressure once lock-ups expire. Merlin receives no proceeds from resales but could raise about $253.9 million if all Series A Warrants are exercised for cash at $12.00 per share; this depends on the stock trading above the exercise price. Merlin reported 2025 revenue of $7.55 million and a net loss of $74.78 million and remains an early-stage, loss-making autonomous flight technology company focused on its Merlin Pilot system.
Merlin, Inc. insider Brunner Mark Rawlins, identified as the company’s Chief Revenue Officer, filed a Form 3 regarding the company’s stock. The filing lists him as an officer but shows no reported buy, sell, or other share transactions.
Merlin, Inc. files an amendment to its Schedule 13D to update beneficial ownership disclosures for Bleichroeder Sponsor 1 LLC, Andrew Gundlach, and Michel Combes, showing 8,800,833 shares equal to 10.4% of common stock.
The amendment explains the post‑business combination share conversions: each former Class B and Class A ordinary share converted one‑for‑one into common stock, and the Sponsor's 425,000 rights converted into 42,500 shares. The filing states Mr. Gundlach resigned as Executive Chairman and the Reporting Persons no longer have board representation.
Merlin, Inc. ownership disclosure: FR Capital Holdings, L.P., as investment manager, reports beneficial ownership of 12,302,060 shares of Merlin common stock, representing approximately 14.55% of the outstanding shares as of March 16, 2026.
The total comprises holdings by First Round Capital VI, L.P. (6,865,338 shares) and First Round Capital VIII-F, L.P. (5,436,722 shares). The filing states the outstanding share base was 84,262,885 shares as of that date. The disclosure is a joint Schedule 13G reporting passive beneficial ownership by related investment vehicles.
Merlin, Inc. completed its business combination with Inflection Point Acquisition Corp. IV, transforming from a SPAC into an operating aerospace technology company focused on autonomous flight. Legacy Merlin became a wholly owned subsidiary through a reverse recapitalization, and the combined company now trades on Nasdaq under the symbol MRLN.
Legacy Merlin equity holders received an aggregate 75,764,313 shares of New Merlin common stock based on an $800,000,000 purchase price and a defined exchange ratio of 3.1015099176506644. Holders of approximately $87.3 million of pre-funded convertible notes were issued 10,244,861 shares of 12.0% Series A Cumulative Convertible Preferred Stock.
Concurrently, PIPE investors purchased 9,803,922 Series A Preferred shares and Series A warrants for $100.0 million, with an additional 1,666,668 Series A Preferred shares and upsized warrants for $20 million, totaling a $120.0 million PIPE. As of closing, 84,262,886 common shares and 21,715,451 Series A Preferred shares were outstanding, with significant ownership concentrated among early venture investors and the sponsor.
The filing also details new governance and compensation structures, including a reconstituted board led by CEO and Chairman Matt George, adoption of a 2026 Incentive Award Plan and Employee Stock Purchase Plan, executive severance and director compensation programs, and lock-up and registration rights agreements for key shareholders. Inflection Point ceased to be a shell company, and BDO was appointed as the new independent registered public accounting firm, with Legacy Merlin’s audited 2025 and 2024 financial statements and pro forma combined financials incorporated by reference.
Inflection Point Acquisition Corp. notified the removal of its Rights, Units from listing and registration on the Nasdaq Stock Market LLC. The Form 25 cites Nasdaq compliance with 17 CFR 240.12d2-2 and the issuer's compliance with the Exchange's rules for voluntary withdrawal; an expiry date appears as March 31, 2018.
Inflection Point Acquisition Corp. IV reported that shareholders approved all proposals presented at an extraordinary general meeting connected to its planned business combination with Merlin Labs, Inc., as described in its proxy statement/prospectus. The meeting achieved a quorum with 20,358,101 ordinary shares, or 60.31% of those outstanding as of February 2, 2026, represented in person or by proxy.
Each proposal received substantially more votes "for" than "against," and the company did not need to use an adjournment proposal because support levels were sufficient. Shareholders also backed the company’s slate of directors, with each nominee receiving significantly more votes "for" than votes withheld.
INFLECTION POINT ACQUISITION CORP. IV reported mixed insider trading activity by The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC in its Class A common stock. Between November 28 and December 9, 2025, Goldman Sachs, acting as a market maker, executed multiple open-market purchases and sales.
The transactions totaled 4,328 shares purchased and 4,872 shares sold, for a small net sale of 544 shares, at prices generally around $10.71–$11.00 per share. After these trades, indirect ownership stood at roughly 3.25 million shares.
The common stock is held directly by Goldman Sachs and indirectly by The Goldman Sachs Group, Inc., which disclaim beneficial ownership except to any pecuniary interest. They state that any profit potentially recoverable under Section 16(b) from these trades will be remitted to the issuer, and that on February 5, 2026, they ceased to be greater-than-10% beneficial owners of the Class A common stock.
Inflection Point Acquisition Corp. IV filed an 8-K highlighting a press release from Merlin Labs, Inc., its proposed merger partner, announcing an Investor & Analyst Webinar on March 3, 2026 at 1:00pm ET. The event will feature a presentation and Q&A with Merlin’s management, with a replay available on Merlin’s investor relations website.
The filing reiterates that Inflection Point and Merlin entered into a Business Combination Agreement on August 13, 2025 and that a Form S-4 registration statement with a proxy statement/prospectus has been filed and mailed to Inflection Point shareholders for their vote on the business combination. Merlin is described as an aerospace and defense technology company focused on autonomous flight, supported by $100M+ total in awarded contracts from military customers.
Merus Global Investments, LLC filed an amended Schedule 13G reporting a passive ownership position in Inflection Point Acquisition Corp. IV Class A ordinary shares. Merus beneficially owns 1,725,000 shares, representing 6.9% of the class, based on 25,000,000 shares outstanding as of February 2, 2026.
Merus reports sole voting and dispositive power over all 1,725,000 shares and no shared power. The firm certifies the securities were not acquired to change or influence control of the issuer, indicating a non‑control, investment-focused holding as of the December 31, 2025 event date.