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The Reporting Person disclaims beneficial ownership of the securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"The securities were directly held by FRCVI, as nominee for itself and FRCVI Partners."}],"balance_after":0,"source":{"system":"sec-edgar","filing":"0001493152-26-043374","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2028707/000149315226043374/ownership.xml","form_type":"4"}},{"id":4624084,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":19073,"kind":"person","name":"BLITZER MICHAEL","position":1,"cik":"0001458423","reported_name":"BLITZER MICHAEL","relationship":{"director":true,"officer":false,"ten_percent_owner":false,"other":false}}],"security":"Common stock","published_at":"2026-09-18T20:33:03.000Z","date":"2026-09-16","kind":"other","planned":false,"acquired":true,"shares":262500,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"On September 16, 2026, Bleichroeder Sponsor 1 LLC (the \"Sponsor\") distributed an aggregate of 8,333,333 shares of common stock, par value $0.0001 per share of the Issuer (\"Common Stock\") to its members as a pro rata distribution for no consideration in accordance with the terms of the Sponsor's limited liability company agreement. 262,500 shares of Common Stock were distributed to Michael Blitzer on such basis."},{"field":"price","element":"transactionPricePerShare","label":"F1","text":"On September 16, 2026, Bleichroeder Sponsor 1 LLC (the \"Sponsor\") distributed an aggregate of 8,333,333 shares of common stock, par value $0.0001 per share of the Issuer (\"Common Stock\") to its members as a pro rata distribution for no consideration in accordance with the terms of the Sponsor's limited liability company agreement. 262,500 shares of Common Stock were distributed to Michael Blitzer on such basis."}],"balance_after":300000,"source":{"system":"sec-edgar","filing":"0001628280-26-062747","document":"wk-form4_1789763581.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2028707/000162828026062747/wk-form4_1789763581.xml","form_type":"4"}},{"id":4624078,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":44807,"kind":"person","name":"Ravestein Leslie Renee","position":1,"cik":"0002117606","reported_name":"Ravestein Leslie Renee","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"CLO and Secretary"}}],"security":"Common stock","published_at":"2026-09-18T20:32:21.000Z","date":"2026-09-16","kind":"tax_withholding","planned":false,"acquired":false,"shares":1101,"price":2.21,"value":2433.21,"ownership":{"direct":true},"footnotes":[{"field":"price","element":"transactionPricePerShare","label":"F1","text":"Represents shares of common stock withheld by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting of restricted stock units on September 16, 2026. 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In addition, each Legacy Merlin stock option was automatically converted into the right to receive stock options of the Issuer with the same terms and conditions."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F2","text":"The stock option will vest in full on February 4, 2027."}],"balance_after":1512485,"derivative":{"exercise_price":8.48,"expiration_date":"2036-02-03","underlying":"Common Stock","underlying_shares":1512485},"source":{"system":"sec-edgar","filing":"0001213900-26-030909","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/2028707/000121390026030909/ownership.xml","form_type":"4"}},{"id":835360,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":44806,"kind":"person","name":"George Matthew Spencer","position":1,"cik":"0002117604","reported_name":"George Matthew Spencer","relationship":{"director":true,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"Chief Executive Officer"}}],"security":"Common Stock","published_at":"2026-03-18T21:06:27.000Z","date":"2026-03-16","kind":"grant","planned":false,"acquired":true,"shares":14890622,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"Represents securities received as part of the Issuer's business combination, in connection with the Business Combination Agreement, dated as of August 13, 2025, by and among the Issuer (formerly known as Inflection Point Acquisition Corp. IV), IPDX Merger Sub, Inc., a direct wholly owned subsidiary of the Issuer, and Merlin Labs, Inc. (\"Legacy Merlin\"), pursuant to which the common stock of Legacy Merlin automatically converted into newly issued shares of Common Stock. In addition, each Legacy Merlin stock option was automatically converted into the right to receive stock options of the Issuer with the same terms and conditions."},{"field":"price","element":"transactionPricePerShare","label":"F1","text":"Represents securities received as part of the Issuer's business combination, in connection with the Business Combination Agreement, dated as of August 13, 2025, by and among the Issuer (formerly known as Inflection Point Acquisition Corp. IV), IPDX Merger Sub, Inc., a direct wholly owned subsidiary of the Issuer, and Merlin Labs, Inc. (\"Legacy Merlin\"), pursuant to which the common stock of Legacy Merlin automatically converted into newly issued shares of Common Stock. In addition, each Legacy Merlin stock option was automatically converted into the right to receive stock options of the Issuer with the same terms and conditions."}],"balance_after":14890622,"source":{"system":"sec-edgar","filing":"0001213900-26-030909","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2028707/000121390026030909/ownership.xml","form_type":"4"}},{"id":835365,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":59048,"kind":"organization","name":"Bleichroeder Sponsor 1 LLC","position":1,"cik":"0002031321","reported_name":"Bleichroeder Sponsor 1 LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":14225,"kind":"person","name":"Gundlach Andrew","position":2,"cik":"0002031329","reported_name":"Gundlach Andrew","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":true,"other_text":"Former Director"}},{"id":10842,"kind":"person","name":"Combes Michel","position":3,"cik":"0001708849","reported_name":"Combes Michel","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Rights","published_at":"2026-03-18T13:08:35.000Z","date":"2026-03-16","kind":"exercise","planned":false,"acquired":false,"shares":425000,"ownership":{"direct":true},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F3","text":"In connection with the Closing of the Business Combination, the 425,000 rights held by the Sponsor, each entitling the holder to receive one-tenth (1/10) of one share upon the closing of the Issuer's initial business combination, converted into 42,500 shares of Common Stock as described under the heading \"Description of Securities\" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777)."},{"field":"kind","element":"transactionCoding","label":"F3","text":"In connection with the Closing of the Business Combination, the 425,000 rights held by the Sponsor, each entitling the holder to receive one-tenth (1/10) of one share upon the closing of the Issuer's initial business combination, converted into 42,500 shares of Common Stock as described under the heading \"Description of Securities\" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777)."},{"field":"price","element":"transactionPricePerShare","label":"F3","text":"In connection with the Closing of the Business Combination, the 425,000 rights held by the Sponsor, each entitling the holder to receive one-tenth (1/10) of one share upon the closing of the Issuer's initial business combination, converted into 42,500 shares of Common Stock as described under the heading \"Description of Securities\" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777)."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F3","text":"In connection with the Closing of the Business Combination, the 425,000 rights held by the Sponsor, each entitling the holder to receive one-tenth (1/10) of one share upon the closing of the Issuer's initial business combination, converted into 42,500 shares of Common Stock as described under the heading \"Description of Securities\" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777)."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F3","text":"In connection with the Closing of the Business Combination, the 425,000 rights held by the Sponsor, each entitling the holder to receive one-tenth (1/10) of one share upon the closing of the Issuer's initial business combination, converted into 42,500 shares of Common Stock as described under the heading \"Description of Securities\" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777)."},{"field":"ownership.direct","element":"directOrIndirectOwnership","label":"F2","text":"Bleichroeder Sponsor 1 LLC (the \"Sponsor\") is the record holder of such securities. MC Advisory L.L.C-FZ, an entity formed in Dubai (of which Michel Combes, one of the Issuer's Co-Founders, is the manager), as well as Andrew Gundlach, the former Executive Chairman of the Issuer, are the managing members of the Sponsor and hold voting and investment discretion with respect to the shares held of record by the Sponsor. As such, each of Mr. Combes and Mr. Gundlach may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Each of Mr. Combes and Mr. Gundlach disclaims any beneficial ownership of the securities held of record by the Sponsor other than to the extent of any pecuniary interest they may have therein, directly or indirectly."}],"balance_after":0,"derivative":{"underlying":"Rights","underlying_shares":42500},"source":{"system":"sec-edgar","filing":"0001213900-26-030016","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":4,"url":"https://www.sec.gov/Archives/edgar/data/2031321/000121390026030016/ownership.xml","form_type":"4"}},{"id":835364,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":59048,"kind":"organization","name":"Bleichroeder Sponsor 1 LLC","position":1,"cik":"0002031321","reported_name":"Bleichroeder Sponsor 1 LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":14225,"kind":"person","name":"Gundlach Andrew","position":2,"cik":"0002031329","reported_name":"Gundlach Andrew","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":true,"other_text":"Former Director"}},{"id":10842,"kind":"person","name":"Combes Michel","position":3,"cik":"0001708849","reported_name":"Combes Michel","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Class B ordinary shares","published_at":"2026-03-18T13:08:35.000Z","date":"2026-03-13","kind":"exercise","planned":false,"acquired":false,"shares":8333333,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F1","text":"In connection with the closing (the \"Closing\") of the business combination (the \"Business Combination\") between the Issuer (which was formerly known as Inflection Point Acquisition Corp. IV or \"Inflection Point\") and Merlin Labs, Inc., immediately prior to the domestication of the Issuer as Delaware corporation, among other things, each of Inflection Point's Class B ordinary shares converted into one Class A ordinary share of Inflection Point as described under the heading \"Description of Securities\" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777). Immediately after such conversion, each Class A ordinary share of Inflection Point converted into one share of the Issuer's common stock (the \"Common Stock\") on a one-for-one basis."},{"field":"kind","element":"transactionCoding","label":"F1","text":"In connection with the closing (the \"Closing\") of the business combination (the \"Business Combination\") between the Issuer (which was formerly known as Inflection Point Acquisition Corp. 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IV or \"Inflection Point\") and Merlin Labs, Inc., immediately prior to the domestication of the Issuer as Delaware corporation, among other things, each of Inflection Point's Class B ordinary shares converted into one Class A ordinary share of Inflection Point as described under the heading \"Description of Securities\" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777). Immediately after such conversion, each Class A ordinary share of Inflection Point converted into one share of the Issuer's common stock (the \"Common Stock\") on a one-for-one basis."},{"field":"ownership.direct","element":"directOrIndirectOwnership","label":"F2","text":"Bleichroeder Sponsor 1 LLC (the \"Sponsor\") is the record holder of such securities. MC Advisory L.L.C-FZ, an entity formed in Dubai (of which Michel Combes, one of the Issuer's Co-Founders, is the manager), as well as Andrew Gundlach, the former Executive Chairman of the Issuer, are the managing members of the Sponsor and hold voting and investment discretion with respect to the shares held of record by the Sponsor. As such, each of Mr. Combes and Mr. Gundlach may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Each of Mr. Combes and Mr. Gundlach disclaims any beneficial ownership of the securities held of record by the Sponsor other than to the extent of any pecuniary interest they may have therein, directly or indirectly."}],"balance_after":0,"derivative":{"underlying":"Class A ordinary shares","underlying_shares":8333333},"source":{"system":"sec-edgar","filing":"0001213900-26-030016","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/2031321/000121390026030016/ownership.xml","form_type":"4"}},{"id":835363,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":59048,"kind":"organization","name":"Bleichroeder Sponsor 1 LLC","position":1,"cik":"0002031321","reported_name":"Bleichroeder Sponsor 1 LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":14225,"kind":"person","name":"Gundlach Andrew","position":2,"cik":"0002031329","reported_name":"Gundlach Andrew","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":true,"other_text":"Former Director"}},{"id":10842,"kind":"person","name":"Combes Michel","position":3,"cik":"0001708849","reported_name":"Combes Michel","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Class A ordinary shares","published_at":"2026-03-18T13:08:35.000Z","date":"2026-03-16","kind":"exercise","planned":false,"acquired":true,"shares":42500,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F3","text":"In connection with the Closing of the Business Combination, the 425,000 rights held by the Sponsor, each entitling the holder to receive one-tenth (1/10) of one share upon the closing of the Issuer's initial business combination, converted into 42,500 shares of Common Stock as described under the heading \"Description of Securities\" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777)."},{"field":"price","element":"transactionPricePerShare","label":"F3","text":"In connection with the Closing of the Business Combination, the 425,000 rights held by the Sponsor, each entitling the holder to receive one-tenth (1/10) of one share upon the closing of the Issuer's initial business combination, converted into 42,500 shares of Common Stock as described under the heading \"Description of Securities\" in Inflection Point's Registration Statement on Form S-1 (File No. 333-280777)."},{"field":"ownership.direct","element":"directOrIndirectOwnership","label":"F2","text":"Bleichroeder Sponsor 1 LLC (the \"Sponsor\") is the record holder of such securities. MC Advisory L.L.C-FZ, an entity formed in Dubai (of which Michel Combes, one of the Issuer's Co-Founders, is the manager), as well as Andrew Gundlach, the former Executive Chairman of the Issuer, are the managing members of the Sponsor and hold voting and investment discretion with respect to the shares held of record by the Sponsor. As such, each of Mr. Combes and Mr. Gundlach may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Each of Mr. Combes and Mr. Gundlach disclaims any beneficial ownership of the securities held of record by the Sponsor other than to the extent of any pecuniary interest they may have therein, directly or indirectly."}],"balance_after":8800833,"source":{"system":"sec-edgar","filing":"0001213900-26-030016","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/2031321/000121390026030016/ownership.xml","form_type":"4"}},{"id":835362,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":59048,"kind":"organization","name":"Bleichroeder Sponsor 1 LLC","position":1,"cik":"0002031321","reported_name":"Bleichroeder Sponsor 1 LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":14225,"kind":"person","name":"Gundlach Andrew","position":2,"cik":"0002031329","reported_name":"Gundlach Andrew","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":true,"other_text":"Former Director"}},{"id":10842,"kind":"person","name":"Combes Michel","position":3,"cik":"0001708849","reported_name":"Combes Michel","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Class A ordinary shares","published_at":"2026-03-18T13:08:35.000Z","date":"2026-03-13","kind":"exercise","planned":false,"acquired":true,"shares":8333333,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"In connection with the closing (the \"Closing\") of the business combination (the \"Business Combination\") between the Issuer (which was formerly known as Inflection Point Acquisition Corp. 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MC Advisory L.L.C-FZ, an entity formed in Dubai (of which Michel Combes, one of the Issuer's Co-Founders, is the manager), as well as Andrew Gundlach, the former Executive Chairman of the Issuer, are the managing members of the Sponsor and hold voting and investment discretion with respect to the shares held of record by the Sponsor. As such, each of Mr. Combes and Mr. Gundlach may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Each of Mr. Combes and Mr. Gundlach disclaims any beneficial ownership of the securities held of record by the Sponsor other than to the extent of any pecuniary interest they may have therein, directly or indirectly."}],"balance_after":8758333,"source":{"system":"sec-edgar","filing":"0001213900-26-030016","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2031321/000121390026030016/ownership.xml","form_type":"4"}},{"id":12880,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":2819,"kind":"organization","name":"GOLDMAN SACHS GROUP INC","position":1,"cik":"0000886982","reported_name":"GOLDMAN SACHS GROUP INC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":11065,"kind":"organization","name":"GOLDMAN SACHS & CO. LLC","position":2,"cik":"0000042352","reported_name":"GOLDMAN SACHS & CO. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the \"Issuer\") Class A Common Stock (the \"Common Stock\")."},{"field":"security","element":"securityTitle","label":"F2","text":"These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group."}],"balance_after":3251388,"source":{"system":"sec-edgar","filing":"0001193125-26-077683","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":30,"url":"https://www.sec.gov/Archives/edgar/data/42352/000119312526077683/ownership.xml","form_type":"4"}},{"id":12879,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":2819,"kind":"organization","name":"GOLDMAN SACHS GROUP INC","position":1,"cik":"0000886982","reported_name":"GOLDMAN SACHS GROUP INC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":11065,"kind":"organization","name":"GOLDMAN SACHS & CO. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the \"Issuer\") Class A Common Stock (the \"Common Stock\")."},{"field":"security","element":"securityTitle","label":"F2","text":"These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group."}],"balance_after":3251391,"source":{"system":"sec-edgar","filing":"0001193125-26-077683","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":29,"url":"https://www.sec.gov/Archives/edgar/data/42352/000119312526077683/ownership.xml","form_type":"4"}},{"id":12878,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":2819,"kind":"organization","name":"GOLDMAN SACHS GROUP INC","position":1,"cik":"0000886982","reported_name":"GOLDMAN SACHS GROUP INC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":11065,"kind":"organization","name":"GOLDMAN SACHS & CO. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the \"Issuer\") Class A Common Stock (the \"Common Stock\")."},{"field":"security","element":"securityTitle","label":"F2","text":"These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group."}],"balance_after":2833376,"source":{"system":"sec-edgar","filing":"0001193125-26-077683","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":8,"url":"https://www.sec.gov/Archives/edgar/data/42352/000119312526077683/ownership.xml","form_type":"4"}},{"id":12857,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":2819,"kind":"organization","name":"GOLDMAN SACHS GROUP INC","position":1,"cik":"0000886982","reported_name":"GOLDMAN SACHS GROUP INC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":11065,"kind":"organization","name":"GOLDMAN SACHS & CO. 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Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the \"Issuer\") Class A Common Stock (the \"Common Stock\")."},{"field":"security","element":"securityTitle","label":"F2","text":"These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group."}],"balance_after":2833380,"source":{"system":"sec-edgar","filing":"0001193125-26-077683","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":7,"url":"https://www.sec.gov/Archives/edgar/data/42352/000119312526077683/ownership.xml","form_type":"4"}},{"id":12856,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":2819,"kind":"organization","name":"GOLDMAN SACHS GROUP INC","position":1,"cik":"0000886982","reported_name":"GOLDMAN SACHS GROUP INC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":11065,"kind":"organization","name":"GOLDMAN SACHS & CO. LLC","position":2,"cik":"0000042352","reported_name":"GOLDMAN SACHS & CO. LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Class A Common Stock, par value $0.0001 per share","published_at":"2026-02-26T23:01:08.000Z","date":"2025-11-28","kind":"sale","planned":false,"acquired":false,"shares":16,"price":10.73,"value":171.68,"ownership":{"direct":false,"nature":"See footnotes"},"footnotes":[{"field":"security","element":"securityTitle","label":"F1","text":"This statement is being filed by The Goldman Sachs Group, Inc. (\"GS Group\") and Goldman Sachs & Co. LLC. (\"Goldman Sachs\" and, together with GS Group, the \"Reporting Persons\"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the \"Issuer\") Class A Common Stock (the \"Common Stock\")."},{"field":"security","element":"securityTitle","label":"F2","text":"These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group."}],"balance_after":2833383,"source":{"system":"sec-edgar","filing":"0001193125-26-077683","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":6,"url":"https://www.sec.gov/Archives/edgar/data/42352/000119312526077683/ownership.xml","form_type":"4"}},{"id":12855,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":2819,"kind":"organization","name":"GOLDMAN SACHS GROUP INC","position":1,"cik":"0000886982","reported_name":"GOLDMAN SACHS GROUP INC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":11065,"kind":"organization","name":"GOLDMAN SACHS & CO. LLC","position":2,"cik":"0000042352","reported_name":"GOLDMAN SACHS & CO. LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Class A Common Stock, par value $0.0001 per share","published_at":"2026-02-26T23:01:08.000Z","date":"2025-11-28","kind":"sale","planned":false,"acquired":false,"shares":2,"price":10.73,"value":21.46,"ownership":{"direct":false,"nature":"See footnotes"},"footnotes":[{"field":"security","element":"securityTitle","label":"F1","text":"This statement is being filed by The Goldman Sachs Group, Inc. (\"GS Group\") and Goldman Sachs & Co. LLC. (\"Goldman Sachs\" and, together with GS Group, the \"Reporting Persons\"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the \"Issuer\") Class A Common Stock (the \"Common Stock\")."},{"field":"security","element":"securityTitle","label":"F2","text":"These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group."}],"balance_after":2833399,"source":{"system":"sec-edgar","filing":"0001193125-26-077683","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":5,"url":"https://www.sec.gov/Archives/edgar/data/42352/000119312526077683/ownership.xml","form_type":"4"}},{"id":12854,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":2819,"kind":"organization","name":"GOLDMAN SACHS GROUP INC","position":1,"cik":"0000886982","reported_name":"GOLDMAN SACHS GROUP INC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":11065,"kind":"organization","name":"GOLDMAN SACHS & CO. LLC","position":2,"cik":"0000042352","reported_name":"GOLDMAN SACHS & CO. LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Class A Common Stock, par value $0.0001 per share","published_at":"2026-02-26T23:01:08.000Z","date":"2025-11-28","kind":"sale","planned":false,"acquired":false,"shares":4,"price":10.73,"value":42.92,"ownership":{"direct":false,"nature":"See footnotes"},"footnotes":[{"field":"security","element":"securityTitle","label":"F1","text":"This statement is being filed by The Goldman Sachs Group, Inc. (\"GS Group\") and Goldman Sachs & Co. LLC. (\"Goldman Sachs\" and, together with GS Group, the \"Reporting Persons\"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the \"Issuer\") Class A Common Stock (the \"Common Stock\")."},{"field":"security","element":"securityTitle","label":"F2","text":"These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group."}],"balance_after":2833401,"source":{"system":"sec-edgar","filing":"0001193125-26-077683","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":4,"url":"https://www.sec.gov/Archives/edgar/data/42352/000119312526077683/ownership.xml","form_type":"4"}},{"id":12853,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":2819,"kind":"organization","name":"GOLDMAN SACHS GROUP INC","position":1,"cik":"0000886982","reported_name":"GOLDMAN SACHS GROUP INC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":11065,"kind":"organization","name":"GOLDMAN SACHS & CO. LLC","position":2,"cik":"0000042352","reported_name":"GOLDMAN SACHS & CO. LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Class A Common Stock, par value $0.0001 per share","published_at":"2026-02-26T23:01:08.000Z","date":"2025-11-28","kind":"sale","planned":false,"acquired":false,"shares":13,"price":10.73,"value":139.49,"ownership":{"direct":false,"nature":"See footnotes"},"footnotes":[{"field":"security","element":"securityTitle","label":"F1","text":"This statement is being filed by The Goldman Sachs Group, Inc. (\"GS Group\") and Goldman Sachs & Co. LLC. (\"Goldman Sachs\" and, together with GS Group, the \"Reporting Persons\"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the \"Issuer\") Class A Common Stock (the \"Common Stock\")."},{"field":"security","element":"securityTitle","label":"F2","text":"These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group."}],"balance_after":2833405,"source":{"system":"sec-edgar","filing":"0001193125-26-077683","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/42352/000119312526077683/ownership.xml","form_type":"4"}},{"id":12852,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":2819,"kind":"organization","name":"GOLDMAN SACHS GROUP INC","position":1,"cik":"0000886982","reported_name":"GOLDMAN SACHS GROUP INC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":11065,"kind":"organization","name":"GOLDMAN SACHS & CO. LLC","position":2,"cik":"0000042352","reported_name":"GOLDMAN SACHS & CO. LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Class A Common Stock, par value $0.0001 per share","published_at":"2026-02-26T23:01:08.000Z","date":"2025-11-28","kind":"sale","planned":false,"acquired":false,"shares":1,"price":10.74,"value":10.74,"ownership":{"direct":false,"nature":"See footnotes"},"footnotes":[{"field":"security","element":"securityTitle","label":"F1","text":"This statement is being filed by The Goldman Sachs Group, Inc. (\"GS Group\") and Goldman Sachs & Co. LLC. (\"Goldman Sachs\" and, together with GS Group, the \"Reporting Persons\"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the \"Issuer\") Class A Common Stock (the \"Common Stock\")."},{"field":"security","element":"securityTitle","label":"F2","text":"These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group."}],"balance_after":2833418,"source":{"system":"sec-edgar","filing":"0001193125-26-077683","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/42352/000119312526077683/ownership.xml","form_type":"4"}},{"id":12851,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":2819,"kind":"organization","name":"GOLDMAN SACHS GROUP INC","position":1,"cik":"0000886982","reported_name":"GOLDMAN SACHS GROUP INC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":11065,"kind":"organization","name":"GOLDMAN SACHS & CO. LLC","position":2,"cik":"0000042352","reported_name":"GOLDMAN SACHS & CO. LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Class A Common Stock, par value $0.0001 per share","published_at":"2026-02-26T23:01:08.000Z","date":"2025-11-28","kind":"sale","planned":false,"acquired":false,"shares":1,"price":10.74,"value":10.74,"ownership":{"direct":false,"nature":"See footnotes"},"footnotes":[{"field":"security","element":"securityTitle","label":"F1","text":"This statement is being filed by The Goldman Sachs Group, Inc. (\"GS Group\") and Goldman Sachs & Co. LLC. (\"Goldman Sachs\" and, together with GS Group, the \"Reporting Persons\"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the \"Exchange Act\"), or for any other purpose. On February 5, 2026, the Reporting Persons ceased to be a greater than 10% beneficial owner of Inflection Point Acquisition Corp. IV's (the \"Issuer\") Class A Common Stock (the \"Common Stock\")."},{"field":"security","element":"securityTitle","label":"F2","text":"These transactions in the Common Stock of the Issuer have not previously been reported and were effected by Goldman Sachs acting as a market maker in the ordinary course of business."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group."}],"balance_after":2833419,"source":{"system":"sec-edgar","filing":"0001193125-26-077683","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/42352/000119312526077683/ownership.xml","form_type":"4"}},{"id":1374396,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":59048,"kind":"organization","name":"Bleichroeder Sponsor 1 LLC","position":1,"cik":"0002031321","reported_name":"Bleichroeder Sponsor 1 LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":14225,"kind":"person","name":"Gundlach Andrew","position":2,"cik":"0002031329","reported_name":"Gundlach Andrew","relationship":{"director":true,"officer":true,"ten_percent_owner":true,"other":false,"officer_title":"Chief Executive Officer"}},{"id":10842,"kind":"person","name":"Combes Michel","position":3,"cik":"0001708849","reported_name":"Combes Michel","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Class B ordinary shares","published_at":"2024-11-06T21:10:28.000Z","date":"2024-11-04","kind":"other","planned":false,"acquired":false,"shares":1250000,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F2","text":"As described in the Issuer's registration statement on Form S-1 (File No. 333-280777) under the heading \"Description of Securities--Founder Shares\", the Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or at any time and from time to time at the option of the holder, on a one-for-one basis, subject to adjustment for share sub-divisions, share dividends, reorganizations, recapitalizations and the like, and certain anti-dilution rights."},{"field":"kind","element":"transactionCoding","label":"F3","text":"As contemplated in connection with the initial public offering of the Issuer, 1,250,000 Class B ordinary shares were surrendered by the Sponsor to the Issuer for no consideration and cancelled because the underwriters' over-allotment option will not be exercised by the underwriters."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F2","text":"As described in the Issuer's registration statement on Form S-1 (File No. 333-280777) under the heading \"Description of Securities--Founder Shares\", the Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or at any time and from time to time at the option of the holder, on a one-for-one basis, subject to adjustment for share sub-divisions, share dividends, reorganizations, recapitalizations and the like, and certain anti-dilution rights."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F2","text":"As described in the Issuer's registration statement on Form S-1 (File No. 333-280777) under the heading \"Description of Securities--Founder Shares\", the Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or at any time and from time to time at the option of the holder, on a one-for-one basis, subject to adjustment for share sub-divisions, share dividends, reorganizations, recapitalizations and the like, and certain anti-dilution rights."},{"field":"ownership.direct","element":"directOrIndirectOwnership","label":"F4","text":"The Sponsor is the record holder of the shares reported herein. MC Advisory L.L.C-FZ, an entity formed in Dubai (of which Michel Combes, one of the Issuer's Co-Founders, is the manager), as well as Andrew Gundlach, the Chief Executive Officer of the Issuer, are the managing members of the Sponsor and hold voting and investment discretion with respect to the ordinary shares held of record by the Sponsor. As such, each of Mr. Combes and Mr. Gundlach may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Each of Mr. Combes and Mr. Gundlach disclaims any beneficial ownership of the securities held of record by the Sponsor other than to the extent of any pecuniary interest they may have therein, directly or indirectly."}],"balance_after":8333333,"derivative":{"underlying":"Class A ordinary shares","underlying_shares":1250000},"source":{"system":"sec-edgar","filing":"0001213900-24-094990","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/2031321/000121390024094990/ownership.xml","form_type":"4"}},{"id":1374395,"issuer":{"id":6007,"kind":"organization","name":"Merlin, Inc."},"owners":[{"id":59048,"kind":"organization","name":"Bleichroeder Sponsor 1 LLC","position":1,"cik":"0002031321","reported_name":"Bleichroeder Sponsor 1 LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":14225,"kind":"person","name":"Gundlach Andrew","position":2,"cik":"0002031329","reported_name":"Gundlach Andrew","relationship":{"director":true,"officer":true,"ten_percent_owner":true,"other":false,"officer_title":"Chief Executive Officer"}},{"id":10842,"kind":"person","name":"Combes Michel","position":3,"cik":"0001708849","reported_name":"Combes Michel","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Class A ordinary shares","published_at":"2024-11-06T21:10:28.000Z","date":"2024-11-04","kind":"purchase","planned":false,"acquired":true,"shares":425000,"price":10,"value":4250000.0,"ownership":{"direct":true},"footnotes":[{"field":"shares","element":"transactionShares","label":"F1","text":"These Class A ordinary shares were acquired by Bleichroeder Sponsor 1 LLC (the \"Sponsor\") pursuant to a private placement units purchase agreement, dated October 31, 2024, by and between the Sponsor and Bleichroeder Acquisition Corp. I (the \"Issuer\"). Each unit consists of one Class A ordinary shares and one right to receive one-tenth (1/10) of one Class A ordinary share"},{"field":"ownership.direct","element":"directOrIndirectOwnership","label":"F4","text":"The Sponsor is the record holder of the shares reported herein. MC Advisory L.L.C-FZ, an entity formed in Dubai (of which Michel Combes, one of the Issuer's Co-Founders, is the manager), as well as Andrew Gundlach, the Chief Executive Officer of the Issuer, are the managing members of the Sponsor and hold voting and investment discretion with respect to the ordinary shares held of record by the Sponsor. As such, each of Mr. Combes and Mr. Gundlach may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Each of Mr. Combes and Mr. Gundlach disclaims any beneficial ownership of the securities held of record by the Sponsor other than to the extent of any pecuniary interest they may have therein, directly or indirectly."}],"balance_after":425000,"source":{"system":"sec-edgar","filing":"0001213900-24-094990","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2031321/000121390024094990/ownership.xml","form_type":"4"}}]}