Merlin, Inc.

Inflection Point is a blank check company, incorporated as a Cayman Islands exempted corporation on June 24, 2024. The company's purpose is to complete a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. To date, Inflection Point has not engaged in any operations or generated any operating revenues. On June 25, 2024, Bleichroeder Sponsor 1 LLC (the "Sponsor") contributed $25,000, or approximately $0.004 per share, to cover deferred offering costs and expenses. In exchange, the company issued 7,187,500 Class B ordinary shares, par value $0.001 per share, to the Sponsor. On October 2, 2024, the company capitalized $239.58 from its share premium account and issued an additional 2,395,833 Founder Shares to the Sponsor. This resulted in the Sponsor holding a total of 9,583,333 Founder Shares, purchased at approximately $0.003 per share. Up to 1,250,000 of these shares were subject to forfeiture based on the underwriters' over-allotment option exercise. On November 4, 2024, the underwriters forfeited their over-allotment option to purchase up to an additional 3,750,000 units. Consequently, the Sponsor surrendered 1,250,000 Class B Ordinary Shares, which were then cancelled by the company, to maintain 25% ownership of the company's issued and outstanding shares (excluding Class A Ordinary Shares underlying Private Placement Units held by the Sponsor). The registration statement for the initial public offering (IPO) became effective on October 31, 2024. On November 4, 2024, the company completed its IPO, selling 25,000,000 units at $10.00 per unit, generating gross proceeds of $250,000,000.