---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-048884"
form_type: "8-K"
ticker: "MRLN"
cik: "0002028707"
company_name: "Merlin, Inc."
filed_at: "2026-04-29T23:59:59+00:00"
generated_at: "2026-05-15T02:24:52.129016+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Merlin raises $80M in PIPE from existing institutional investor; pro forma cash $183M

## Summary
- Issued 8M shares at $10 each and warrants for 4M shares at $6.67 strike, 5-year expiry.
- Existing cash $107M; pro forma cash $183M to accelerate platform development and regulatory approvals.
- Closing expected on or about May 1, 2026; Cantor Fitzgerald & Co. led placement.
- Anti-dilution adjustments triggered to conversion price of 12% Series A Preferred and certain warrants.
- Company agreed to file registration statement for resale of the issued shares and warrant shares.

## SEC filing metadata
- accession: 0001213900-26-048884
- form_type: 8-K
- ticker: MRLN
- cik: 0002028707
- company_name: Merlin, Inc.
- filed_at: 2026-04-29T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2028707/000121390026048884/0001213900-26-048884-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2028707/000121390026048884/ea0288180-8k_merlin.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-048884
- JSON: https://secwatch.observer/filing/0001213900-26-048884.json
- Plain text: https://secwatch.observer/filing/0001213900-26-048884.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.