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Merlin, Inc.

corporate_fare Company Profile

Merlin, Inc.

MRLN·NASDAQ·Technology·CIK 0002028707

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.

Merlin, Inc. (NASDAQ:MRLN) is a publicly traded company in the Technology sector. Wiseek has independently scored 14 items for MRLN at importance 7 or higher on its 1–10 market-impact scale. Its most recent item scored 7 or higher is dated 2026-08-13, rated 8/10. Across its 14 most recent items scored 7 or higher, the top rating is 9/10, with 11 rated 8 or above. Recent SEC coverage for MRLN spans 10-Q, 8-K, 424B3, S-1.

Recent high-impact activity:

  • Merlin Q2 2026: $58.4M Net Loss, Material Weaknesses, and $130M Warrant Liability
  • Merlin Reports Q2 2026: Revenue Doubles QoQ, Cash Position Strengthens to $183.9M
  • Merlin Partners with Israel Aerospace Industries to Bring AI Autonomy to Cargo Jets
  • Merlin Advances USSOCOM C-130J Autonomy Program with Critical Design Review Completion
  • Merlin, Inc. Updates Offering Prospectus with $80M PIPE and Q1 Financials, Discloses Material Weaknesses

Financial Snapshot

Fiscal year ended December 31, 2025
Net Income
$6.01M
Op. Cash Flow
-$1.33M
Operating Income
-$3.86M
Cash & Equivalents
$703.6K
Debt / Equity
0.00×
Source: 10-K · filed 2026-03-12 · accession 0001213900-26-027011

Short Interest & Short Volume

8.72 days to cover

FINRA reported short interest of 10,536,893 shares in MRLN as of the September 15, 2026 settlement, a 6.5% increase from the prior period — about 8.7 days to cover at its recent average daily volume. On October 2, 2026, 53.0% of MRLN volume reported to FINRA trade-reporting facilities was marked short.

Short interest (bi-monthly positions)10,536,893 shares as of September 15, 2026
Change vs prior period▲ 6.5%
Days to cover8.72 at avg daily volume of 1,208,414
Daily short volume (FINRA facilities)53.0% of 1,319,455 shares on October 2, 2026
5-day average short volume54.8%

Daily short sale volume covers trades reported to FINRA trade-reporting facilities and is not the same as short interest (bi-monthly reported positions). Source: FINRA — FINRA is the owner and source of this short interest and short sale volume data; it may not be redistributed.

Dilution Risk

Moderate risk

Filing-implied dilution signals for MRLN, detected from its recent SEC filings · based on capital-structure filings through 2026-08-20.

3 recent capital raises2 shelf registrations

Prospectus Supplement Filed · $80 Million PIPE Transaction

A filing-implied signal, not a realized share count. How Wiseek tracks dilution →

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$1.74 +0.03% today
52-week range · as of 2026-08-13 $1.74 – $17
Market cap
$172.83M
Volume
2.5M (0.9× avg)
3-mo avg 3M
Live data · 2026-10-04 16:02 UTC · Market closed

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feed MRLN - Latest Insights

MRLN
Aug 13, 2026, 6:32 PM EDT
Filing Type: 10-Q
Importance Score:
8
Price at Filing: $4.05
Real-time Price: $1.74 info
Change: -$2.31 (-57%) info
Market Cap: $172.826M info
MRLN
Aug 13, 2026, 4:09 PM EDT
Filing Type: 8-K
Importance Score:
7
Price at Filing: $4.23
Real-time Price: $1.74 info
Change: -$2.49 (-59%) info
Market Cap: $172.826M info
MRLN
Jul 23, 2026, 9:00 AM EDT
Source: GlobeNewswire
Importance Score:
7
Price at Filing: $3.30
Real-time Price: $1.74 info
Change: -$1.56 (-47%) info
Market Cap: $172.826M info
MRLN
Jun 04, 2026, 4:05 PM EDT
Source: GlobeNewswire
Importance Score:
8
Price at Filing: $7.32
Real-time Price: $1.74 info
Change: -$5.58 (-76%) info
Market Cap: $172.826M info
MRLN
Jun 01, 2026, 8:31 PM EDT
Filing Type: 424B3
Importance Score:
8
Price at Filing: $7.25
Real-time Price: $1.74 info
Change: -$5.51 (-76%) info
Market Cap: $172.826M info
MRLN
May 15, 2026, 7:30 AM EDT
Filing Type: 10-Q
Importance Score:
9
Price at Filing: $7.15
Real-time Price: $1.74 info
Change: -$5.41 (-76%) info
Market Cap: $172.826M info
MRLN
May 14, 2026, 7:37 AM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $8.00
Real-time Price: $1.74 info
Change: -$6.26 (-78%) info
Market Cap: $172.826M info
MRLN
May 13, 2026, 4:34 PM EDT
Filing Type: 424B3
Importance Score:
8
Price at Filing: $7.80
Real-time Price: $1.74 info
Change: -$6.06 (-78%) info
Market Cap: $172.826M info
MRLN
May 06, 2026, 8:59 AM EDT
Filing Type: S-1
Importance Score:
8
Price at Filing: $9.12
Real-time Price: $1.74 info
Change: -$7.38 (-81%) info
Market Cap: $172.826M info
MRLN
Apr 29, 2026, 9:24 AM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $10.52
Real-time Price: $1.74 info
Change: -$8.78 (-83%) info
Market Cap: $172.826M info
MRLN
Apr 29, 2026, 9:18 AM EDT
Source: GlobeNewswire
Importance Score:
8
Price at Filing: $11.53
Real-time Price: $1.74 info
Change: -$9.79 (-85%) info
Market Cap: $172.826M info
MRLN
Apr 23, 2026, 9:01 AM EDT
Source: GlobeNewswire
Importance Score:
7
Price at Filing: $12.35
Real-time Price: $1.74 info
Change: -$10.61 (-86%) info
Market Cap: $172.826M info
MRLN
Apr 20, 2026, 8:10 PM EDT
Filing Type: 424B3
Importance Score:
9
Price at Filing: $14.33
Real-time Price: $1.74 info
Change: -$12.59 (-88%) info
Market Cap: $172.826M info
MRLN
Apr 15, 2026, 4:10 PM EDT
Filing Type: S-1
Importance Score:
9
Price at Filing: $13.01
Real-time Price: $1.74 info
Change: -$11.27 (-87%) info
Market Cap: $172.826M info
Research tools: Filing Impact Index Dilution Tracker Split Calendar Open Datasets