The US Securities and Exchange Commission has declared effective the registration statement for the merger of Elroy Air, which develops the Chaparral cargo VTOL drone, with Inflection Point Acquisition Corp. VII, the companies announced. After closing, the merged company will keep the Elroy Air name, with its shares expected to trade on Nasdaq.
Inflection Point's shareholders will vote on the deal at an extraordinary general meeting on 25 November 2026. Elroy Air says it has about USD 175 million in committed financing, including USD 75 million in pre-PIPE financing already paid in.
Chief executive Andrew Clare said Elroy Air sees strong demand for the Chaparral from defence and commercial customers and plans to scale up its autonomous cargo drone in 2027.
