Inflection Point Acquisition VII amends Elroy Air deal terms
IPXG•Inflection Point Acquisition Corp. VII and Elroy Air amended their June 26, 2026, merger agreement on October 27. The amendment caps New Elroy Air incentive-plan shares at 12% of fully diluted capitalization and revises award-conversion, lock-up and financial-statement delivery terms.
1. Amended merger terms
The companies amended their merger agreement on October 27, 2026. Shares issuable under New Elroy Air’s incentive plan immediately after closing are capped at 12% of fully diluted capitalization, and Elroy Air options and restricted stock units will convert into corresponding New Elroy Air awards using the common stock exchange ratio.
2. Closing conditions
Closing requires lock-up agreements from Elroy Air equityholders receiving at least 1% of aggregate consideration, including through option exercises or restricted-stock-unit settlements. Missing financial-statement delivery deadlines will not constitute a breach of the merger agreement or failure of the related closing condition.
