Merlin Awarded $8.9 Million Task Order To Advance USSOCOM C-130J Autonomy Program from Design Into Integration

(NASDAQ:MRLN) Merlin, Inc. announced it has been awarded a new task order worth $8.9 million for the next phase of its C-130J autonomy program with the U.S. Special Operations Command (USSOCOM). The company has completed its Preliminary Design Review (PDR) and Critical Design Review (CDR) and is now executing the next task order, which includes system integration, ground test preparation, cybersecurity approval, and airworthiness acceptance to support future flight demonstrations. The task order aims to demonstrate how the Merlin Pilot system can reduce demands on C-130J aircrews and expand the operational capacity of the aircraft. Matt George, CEO and Founder of Merlin, stated that the priority is delivering capabilities that can be integrated into existing fleets and trusted in demanding operational environments. The next phase will validate system performance, crew interaction, and response in off-nominal conditions. The C-130J autonomy development program is designed to potentially reduce crew workload across all phases of flight. The task order advances system integration and validation through flight control law tuning, human factors evaluations, failure mode testing, and simulated flight-test dry runs to verify system behavior and readiness before aircraft installation. It also includes updating test plans, procedures, verification matrices, and safety assessments for Government review ahead of ground testing. The program will advance the cybersecurity assessment and documentation required for an Interim Authorization to Test (IATT) and deliver an updated airworthiness plan to support flight test demonstrations. Completion of these milestones will move the program closer to demonstrating these capabilities on the C-130J aircraft. Merlin has a total IDIQ contract ceiling value of over $100 million under its C-130J autonomy program with USSOCOM. The Merlin Pilot system has been proven through hundreds of autonomous flights from test facilities across the globe. The company is focused on delivering full-stack autonomy for any aircraft, military or civilian, from takeoff to touchdown.

Merlin, Inc. Announces $80 Million PIPE Investment to Accelerate Program Execution and Unlock New Growth Opportunities

Merlin, Inc. (NASDAQ:MRLN) announced it has entered into a securities purchase agreement with an existing institutional shareholder to raise $80 million of equity capital via a private investment in public equity (PIPE). The company currently has approximately $107 million in cash and cash equivalents, and with this financing, expects total cash resources of $183 million. The proceeds will be used to advance Merlin's core platform development, fund regulatory approval activities, scale program capacity, and support customer contracts. Under the agreement, Merlin will issue 8 million shares of common stock and warrants to purchase 4 million shares at a strike price of $6.67 per share, with an expiry date of 5 years from the issue date. The transaction is expected to close on or about May 1, 2026.