425 1 ea0304291-425_inflection7.htm FORM 425

Filed by Inflection Point Acquisition Corp. VII

Pursuant to Rule 425 under the Securities Act of 1933, as amended and deemed filed

pursuant to Rule 14a-12 under the Securities Exchange Act of 1934, as amended

Subject Company: Inflection Point Acquisition Corp. VII

Subject Company: Elroy Air, Inc.

Commission File No.: 001-43112

The following materials were made available in connection with the proposed business combination (the “Business Combination”) between Inflection Point Acquisition Corp. VII (“IPAC”) and Elroy Air, Inc. (“Elroy Air”).

Set forth below is a press release, published by Elroy Air on September 2, 2026:

Elroy Air Completes the First Uncrewed Autonomous Flights Under U.S. DOT and FAA’s eVTOL Integration Pilot Program (eIPP)

HOUMA, La. September 2, 2026 — Elroy Air, a U.S.-based technology developer of autonomous heavy-cargo drones for commercial logistics, defense and rapid response, today announced the completion of the first autonomous and uncrewed flights authorized under the U.S. Department of Transportation’s (USDOT) and the Federal Aviation Administration’s (FAA) eVTOL Integration Pilot Program (eIPP). This marks a historic moment on the way to nationwide commercial autonomous cargo operations.

Elroy Air’s Chaparral, an autonomous hybrid-electric VTOL aircraft capable of carrying more than 500 lbs of payload with a maximum range of up to 450 miles, conducted a week-long series of flights in Houma, Louisiana in late August. The flights were completed in partnership with LIFTOFF Louisiana and long-time partner Bristow Group, demonstrating Chaparral’s readiness for commercial service across the Gulf Coast’s energy and industrial corridors across Louisiana, Texas and Mississippi. A variety of cargo was transported during the week including packages and parcels, medical supplies, toolboxes with spare parts, food and jerry cans of water. Elroy Air was selected for the eIPP in March 2026 as part of the State of Louisiana’s application and Chaparral remains the only purpose-built, heavy-payload cargo drone in the program.

“Over the course of the week, Chaparral flew autonomously and with no pilot on board from one of the nation’s busiest airports for rotorcraft under Air Traffic Control oversight. These flights bring Chaparral closer to fulfilling our mission: moving heavy cargo autonomously, safely, and at scale for commercial operations,” said Elroy Air CEO Dr. Andrew Clare. “Through the eIPP, we’re working closely with the FAA as well as local and state officials to shape how uncrewed cargo aircraft operate in the National Airspace System. We’re grateful to Bristow Group, LIFTOFF Louisiana, and the FAA for their partnership, and to the White House, Secretary Duffy, and the USDOT for their commitment to American aviation leadership.”

The eIPP was established under President Trump’s Unleashing American Drone Dominance Executive Order to accelerate the safe integration of Advanced Air Mobility aircraft into the National Airspace System. The program brings together aircraft manufacturers, operators, state and local governments, and federal agencies, with operational data informing future aviation policy and the broader commercialization of Advanced Air Mobility across the United States.

“I witnessed Chaparral fly at Houma–Terrebonne Airport under air traffic control. It was a disciplined, safe operation—and exactly the kind of work this program is meant to produce,” said Josh Duplantis, Advanced Aeronautics Director at the Louisiana Department of Transportation and Development. “We are proud of this first week with Elroy Air and Bristow Group, and we are ready for the work still ahead under LIFTOff Louisiana.”

“This demonstration with the Louisiana Department of Transportation and Development and Elroy Air provides data to help turn these concepts from trial to deployment.” said FAA Administrator Bryan Bedford. “These test flights demonstrate how these new aircraft can expand cargo delivery options to communities nationwide and improve our logistics infrastructure.”

“Our energy and government services customers need low-risk, high-tempo options for moving critical cargo across the Gulf Coast, and that’s exactly what Chaparral delivers,” said Dave Stepanek, Bristow Executive Vice President and Chief Transformation Officer. “Louisiana is our core U.S. base of operations, and these flights bring us closer to offering our customers new ways to move freight offshore and across the region.”

While Chaparral’s eIPP flights are focused on commercial operations, its dual-use design extends to defense logistics, tactical resupply and humanitarian aid. Elroy Air’s commercial demand pipeline exceeds 1,400 aircraft, representing more than $5 billion in potential revenue from leading logistics and aviation companies. Kratos Defense & Security Solutions, the exclusive U.S. manufacturer of the Chaparral, will produce the aircraft at its expanding Sacramento, California facility, with the first production aircraft planned for late 2026.

Set forth below is an article interviewing Andrew Clare, Chief Executive Officer of Elroy Air, published by Forbes Media LLC on September 2, 2026:

Forbes

Elroy Air Completes Major Test Under Federal VTOL Program

By Ed Garsten

2 September 2026

Elroy Air Chaparral autonomous hybrid-electric vertical takeoff and landing aircraft on a test flight over Louisiana in August, 2026.

Vertical takeoff and landing cargo drone company Elroy Air has completed the first autonomous and uncrewed test flights barely five months after being chosen to participate in a federal program to promote development of so-called advanced air mobility aircraft, the company announced Wednesday.

The San Francisco-based company conducted a week-long series of flights from the Houma-Terrabonne Airport in Houma, Louisiana in late August, in cooperation with partners Bristow Group and LIFTOFF Louisiana.

Elroy Air’s Chaparral hybrid-electric autonomous VTOL is designed to carry loads of up to 500 pounds over distances of up to 450 miles.

Payloads during the test flights weighed “at least” 150 pounds and included a variety of materials including packages and parcels, medical supplies, toolboxes with spare parts, food and jerry cans of water, according to the Elroy CEO Andrew Clare.

“We were very very pleased with the aircraft performance that we saw. It met all of our simulation models of the high humidity and the hot weather testing that we have already done before,” said Clare, in an interview. “But until you actually do it and validate your models--it was really great to see the data really correlate there, which was great.”

The federal initiative is called the Advanced Air Mobility and Electric Vertical Takeoff and Landing Integration Pilot Program, or eIPP, part of Pres. Donald Trump’s American drone dominance executive order.

Last March, several aviation companies were invited to participate in eight projects across the country designed to both test the technologies and demonstrate their capabilities.

Chosen along with Elroy Air, were Archer Aviation, Joby Aviation, Electra and BETA Technologies.

“You see how quickly we were here, up and running, and operating in a new airspace, fully integrated with air traffic control under FAA approval. So I think that’s the first feature of acceleration of the eIPP,” said Clare.

In addition, Clare credited eIPP with, enabling the Federal Aviation Administration and U.S. Department of Transportation to receive useful data from the test flights, with helping air traffic control develop rules and policies for vertical takeoff and landing aircraft and creating what he termed “pathways towards revenue-generating operations.”

“This demonstration with the Louisiana Department of Transportation and Development and Elroy Air provides data to help turn these concepts from trial to deployment.” said FAA Administrator Bryan Bedford, in a statement. “These test flights demonstrate how these new aircraft can expand cargo delivery options to communities nationwide and improve our logistics infrastructure.”

While Elroy has focused primarily on developing Chaparral for commercial deliveries, it was developed as a dual-use aircraft designed to serve the defense industry for transporting cargo for military purposes, as well as delivering humanitarian aid, especially in locations that cannot accommodate typical runways, as Chaparral requires none.

The company says its “commercial demand pipeline” is more than 1,400 aircraft representing more than $5 billion in “potential revenue.”

Its key customers, according to Clare, are Bristow Group, which pre-ordered 100 aircraft, The Barq Group, with which Elroy Air signed a $200 million joint venture to build a manufacturing facility in Abu Dhabi, SLI Aerospace, formerly known as LCI, to purchase up to 40 aircraft with deposits placed on 20, along with the U.S. Defense Department and FedEx.

The Chaparral will be produced in the U.S. by Kratos Defense & Security Solution at its Sacramento, California facility.

The first aircraft should start rolling off the line during the fourth quarter of this year for mainly test purposes, with initial deliveries to customers in 2027, Clare said.

Investors looking to buy shares of Elroy will soon have that opportunity as the company plans to go public on the NASDAQ through a special purpose acquisition company, or SPAC led by the management team of Inflection Point Asset Management and Cohen & Company, Inc.”

“We will be ringing the bell in Q4,” said Clare.

Set forth below is a transcript from a video, published by Elroy Air on LinkedIn on September 2, 2026:

Video Transcript

Andrew Clare: It’s been a historic week here in Houma, Louisiana. Elroy Air and our Chaparral unmanned system completed the very first set of flights that were autonomous and uncrewed under the EVITOL integration pilot program. I’d like to thank all of our partners at the White House, the Department of Transportation, the FAA, the Louisiana Department of Transportation and Development, Liftoff Louisiana, the Houma-Terrebonne Airport, and the Bristow Group for making this incredible week all come together.

Josh Saplanis: Here at Houma Terrebonne Airport, this week, we are officially launching Liftoff Louisiana, which is our EIPP project with the FAA. So the program is going to be a three year program where we’re testing all kinds of different aircraft systems. But for Elroy, we’re really excited to get into beyond visible line of sight operations in a very safe way and eventually out in supporting oil and gas infrastructure in the Gulf of America.

Joshua Alford: This is really just the beginning of what is going to come. It’s the largest heliport in the world. And what better testing ground to introduce advanced air mobility into the air space and write the playbook for the rest of the country to use.

Andrew Clare: This is Chaparral. It is our heavy payload cargo drone. We can carry up to 500 pounds of cargo in our pod. We can fly up to 450 miles, enabled by the really unique hybrid electric powertrain that simply takes gas and allows us to fly wherever we need to go. There is no pilot onboard this aircraft. It is uncrewed and it’s autonomous. It takes off vertically using our vertical propulsion system like a helicopter, and then flies like an airplane using our forward propulsion system and wing. It’s going to be used here in Houma, Louisiana, where we are today for moving critical cargo offshore and around the Gulf Coast.