Inflection Point Acquisition Corp. II has announced that it entered into a Business Combination Agreement with USA Rare Earth, LLC, and IPXX Merger Sub, LLC. The agreement is aimed at merging Merger Sub into USARE with USARE continuing as the surviving company. Post-merger, Inflection Point will change its name to "USA Rare Earth, Inc." The combination was approved by Inflection Point's board of directors and the managers of USARE. This business combination is expected to be closed in the first quarter of 2025 subject to approvals by Inflection Point’s shareholders and other customary closing conditions. Additionally, Inflection Point plans to migrate and domesticate as a Delaware corporation prior to the closing of the Business Combination. They will also provide the opportunity for shareholders to redeem their shares before this domestication.
Names mentioned: 1. Inflection Point Acquisition Corp. II 2. USA Rare Earth, LLC 3. IPXX Merger Sub, LLC 4. New USARE (post-closing company name)