Inflection Point Acquisition Corp. VII filed a Form 425 on October 28, 2026, disclosing a press release from Elroy Air, Inc. announcing the appointment of Jeremy Hux as Chief Financial Officer effective immediately, as the company prepares to become publicly traded through its pending business combination with Inflection Point.

Key Highlights

  • New CFO appointed: Elroy Air named Jeremy Hux as Chief Financial Officer, effective immediately, according to the filing.
  • Extensive background: Hux brings more than 25 years of experience across investment banking, private equity, and CFO roles in deep tech, sustainability, clean technology, and biomanufacturing sectors, the filing states.
  • Prior roles: Hux previously served as CFO of UPSIDE Foods and as CFO of Manus Bio, and earlier spent over two decades at Morgan Stanley, Credit Suisse, Marathon Capital, and other firms, advising on more than $50 billion in financing and M&A transactions, according to the filing.
  • Army contract: The company disclosed it was recently awarded a multi-year contract worth up to $46 million with the U.S. Army.
  • FAA milestone: Elroy Air was described as the first to fly an uncrewed, autonomous drone in the National Airspace System under the FAA and U.S. Department of Transportation's eVTOL Integration Pilot Program (eIPP).
  • Business combination timeline: The business combination with Inflection Point (NASDAQ:IPXG) is expected to close in the fourth quarter of 2026, subject to customary closing conditions including regulatory and shareholder approval, the filing states.

Elroy Air CFO Appointment and SPAC Combination Details

According to the Form 425 filing, Elroy Air published a press release on October 27, 2026, announcing Jeremy Hux as its new Chief Financial Officer. In his new role, the filing states Hux will oversee Elroy Air's "capital markets approach, financial reporting, accounting and treasury functions and guide company strategy alongside CEO Andrew Clare and the Elroy Air leadership team as it prepares to enter the public markets and scale production of its autonomous, heavy-cargo drone, Chaparral, to meet demand across commercial and defense markets."

The filing describes Hux's prior career as spanning investment banking and private equity at firms including Morgan Stanley, Credit Suisse, and Marathon Capital, where he "advised on more than $50 billion in financing and M&A transactions across a broad range of technologies including semiconductors, memory, EVs, fuel cells, charging, renewable fuels and chemicals, and biomanufacturing." His most recent position before joining Elroy Air was CFO of UPSIDE Foods, and prior to that he served as CFO of Manus Bio.

The filing also notes context for Hux's appointment. Elroy Air's Chaparral aircraft is described as designed to carry 500+ pounds of cargo and operate with a hybrid-electric powertrain delivering a range of up to 450 miles, requiring no charging infrastructure. The company disclosed it entered into a definitive business combination agreement with Inflection Point Acquisition Corp. VII, formerly known as Columbus Circle Capital Corp II and listed on Nasdaq as IPXG, in June. That combination is expected to close in the fourth quarter of 2026, subject to customary closing conditions, including regulatory and shareholder approval. A registration statement on Form S-4, including a proxy statement and prospectus, has been filed with the SEC in connection with the proposed transaction, according to the filing.

What Was Disclosed

The Form 425 filing, submitted by Inflection Point Acquisition Corp. VII, reproduced an Elroy Air press release disclosing the appointment of Jeremy Hux as CFO effective immediately, along with updates on a U.S. Army contract worth up to $46 million and the pending SPAC business combination expected to close in Q4 2026.