Merlin Secures $800M SPAC Deal with Bleichroeder Acquisition Corp.

Merlin, a fintech company, is set to go public through an $800M SPAC deal with Bleichroeder Acquisition Corp. I (NASDAQ:BACQ). The deal values Merlin at $800M pre-money, with over $125M in PIPE funding committed. The transaction is expected to close in early 2026. Merlin develops financial technology solutions for the financial services industry.

Merlin, a leading fintech company, has announced its intention to go public through a merger with Bleichroeder Acquisition Corp. I (NASDAQ: BACQ) in a deal valued at $800M pre-money. The transaction, which includes over $125M in PIPE (Private Investment in Public Equity) funding, is expected to close in early 2026. The PIPE funding includes $78M committed at signing.

Merlin specializes in developing aircraft-agnostic AI flight systems for both defense and civil aviation. The company has secured significant contracts, including a $105M deal with USSOCOM for C-130J integration and a KC-135 integration project with the USAF. These contracts demonstrate Merlin's robust market position and potential for future growth.

The SPAC sponsor, Inflection Point, previously backed Intuitive Machines (LUNR) and USA Rare Earth, indicating a track record of successful investments in innovative technologies. The deal provides Merlin with up to $257M in additional proceeds, depending on SPAC redemptions. These funds will be allocated to tech development, customer delivery, acquisitions, and talent growth.

The merger with Bleichroeder Acquisition Corp. I will allow Merlin to access the capital markets, facilitating its expansion and innovation in the fintech sector. Investors and financial professionals should closely monitor this transaction as it could set a precedent for future fintech companies seeking to go public through SPAC deals.

References:
[1] https://seekingalpha.com/news/4485384-merlin-to-go-public-via-800m-spac-deal-with-inflection-points-bacq