Bleichroeder Acquisition Corp. III filed the 425 on Aug. 31 covering the proposed business combination with Ursa Major Technologies.
The filing states the transaction values Ursa Major at $2.3 billion post-transaction equity. Ursa Major reported $45 million in sales last year and projects $101 million for 2026 and $200 million the following year.
PIPE commitments total $350 million, with potential access to an additional $345 million. Capex is listed at $17 million last year, rising to $37 million in 2026 and $85 million in 2027.
The combined entity plans to list on Nasdaq under ticker IPXX as Inflection Point Mach X Bleichroeder after domestication to Delaware. Ursa Major targets Havoc missile output above 500 units per year by 2030.
The document includes standard risk factors, forward-looking statements, and participant disclosures tied to the pending Registration Statement on Form S-4.
Pulse Impact
- Previous Pulse: 71
- New Pulse: 71
- Change: Unchanged
- Driver: Form 425 does not move Pulse; it is not treated as a registration beat.
Bleichroeder Acquisition Corp. III Form 425 (2026-08-31)
Not investment advice. Facts taken from the company’s Form 425.