{"transactions":[{"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. 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":"derivative.exercise_date","element":"exerciseDate","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":"derivative.expiration_date","element":"expirationDate","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":"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. 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":"price","element":"transactionPricePerShare","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":"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":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":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"}}]}