09:08 AM EDT, 08/14/2025 (MT Newswires) -- Bleichroeder Acquisition (BACQ), a special purpose acquisition company, said Thursday that it has agreed to take autonomous flight technology company Merlin public.

The company said the deal, which values Merlin at $800 million, is expected to close early next year.

The merger is expected to generate gross proceeds of at least $128 million from the committed private investment in public equity capital, with up to $257 million in additional proceeds based on redemptions, the company said.

Shares of Bleichroeder Acquisition were up 2% in recent Thursday premarket activity.