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Elroy Air and Columbus Circle Capital Corp II Announce Confidential Submission of Draft Registration Statement on Form S-4 in Connection with Proposed Business Combination

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  • Elroy Air & Columbus Circle Capital Corp II (renamed Inflection Point Acquisition Corp VII) confidentially submitted a Form S-4 registration statement to the SEC for a business combination.
  • The transaction is expected to close in Q4 2026, subject to regulatory & shareholder approval.
  • Elroy Air will have a pre-money valuation of $800 million with an estimated post-closing enterprise value of $1.0 billion.
  • Over $165 million in committed PIPE capital will fund Chaparral production with Kratos Defense & Security Solutions, including $65 million funded at the BCA execution.
  • Upon closing, the combined entity will operate under the name Elroy Air & trade on Nasdaq under the ticker symbol "ELRY".
  • Elroy Air's Chaparral is a hybrid-electric VTOL drone capable of carrying 500+ pounds, with a range up to 450 miles & no charging infrastructure requirements.
  • The Chaparral features three new unattended delivery modes under contract with the U.S. Army: precision airdrop from hover, precision airdrop in forward flight, & ground delivery.
  • The company is backed by venture capital firms including DiamondStream Partners, Catapult Ventures, & Lockheed Martin Ventures.