Quiet Capital Management, LLC - 16 Mar 2026 Form 3 Insider Report for Merlin, Inc. (MRLN)

Reporting relationship: 10%+ Owner
Issuer ticker: MRLN
Reported as of: 16 Mar 2026
Net transaction value: $0
SEC form: 3
Accepted by SEC: 08 May 2026, 16:54:09 UTC
Source filing: View source filing
Reporting owner signature: Quiet Capital Management, LLC, By: /s/ Kabir Masson, Name: Kabir Masson, Title: General Counsel

Key filing fact

Quiet Capital Management, LLC filed Form 3 for Merlin, Inc. (MRLN) on 08 May 2026.

Key facts

This page summarizes Quiet Capital Management, LLC's Form 3 filing for Merlin, Inc. (MRLN).
0 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 08 May 2026, 16:54.

Change

No earlier filing in this sequence is available for direct comparison.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Official SEC source

Ownership activity is grounded in SEC Form 3 disclosures.

View source filing

Reporting Owners (1)

CIK 0002131928 Primary reporting owner

Quiet Capital Management, LLC

Relationship: 10%+ Owner
Address: 548 MARKET STREET, PMB 72966, SAN FRANCISCO
Signature: Quiet Capital Management, LLC, By: /s/ Kabir Masson, Name: Kabir Masson, Title: General Counsel
Signature date: 08 May 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

MRLN holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 12,896,007
Date: 16 Mar 2026
Ownership: See footnote
Footnotes: F1, F2

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

MRLN holding Derivative

12.0% Series A Cumulative Convertible Preferred Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date: 16 Mar 2026
Ownership: See footnote
Underlying class: Common Stock
Underlying amount: 464,534
Exercise price: $6.67
Footnotes: F2, F3, F4

MRLN holding Derivative

Series A Warrants

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date: 16 Mar 2026
Ownership: See footnote
Underlying class: Common Stock
Underlying amount: 479,343
Exercise price: $6.67
Footnotes: F2, F5, F6

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 6 footnotes

Footnote F1

The reported securities are directly held as follows: 495,590 shares of Common Stock by Quiet ML, L.P. ("Quiet ML"), 3,497,280 shares of Common Stock by Quiet Venture I, LP ("Quiet V1") and 8,903,137 shares of Common Stock by Quiet Venture II, L.P. ("Quiet V2," and together with Quiet ML and Quiet V1, the "Quiet Direct Holders").

Footnote F2

Each of the Quiet Direct Holders is managed by Quiet Capital Management, LLC, whose investment committee exercises voting and investment discretion of, and therefore may be deemed to beneficially own, the reported securities, but disclaims such beneficial ownership except to the extent of the reporting person's pecuniary interest therein.

Footnote F3

Each share of 12.0% Series A Cumulative Convertible Preferred Stock ("Series A Preferred Stock"), is convertible into Common Stock at any time at the option of the holder at a conversion price of $6.67, subject to adjustments. In connection with a PIPE transaction effected by the Issuer on May 1, 2026 (the "PIPE Transaction"), the conversion price, which originally was $12, was automatically adjusted pursuant to the terms of the Certificate of Designation of Preferences, Rights and Limitations of 12.0% Series A Cumulative Convertible Preferred Stock in effect on the original date of acquisition of the Series A Preferred Stock. The Series A Preferred Stock has no expiration date.

Footnote F4

The reported securities are directly held as follows: 47,676 shares of Series A Preferred Stock by Quiet ML, 35,450 shares of Series A Preferred Stock by Quiet V1 and 381,408 shares of Series A Preferred Stock by Quiet V2.

Footnote F5

The reported securities are directly held as follows: 49,195 Series A Warrants by Quiet ML, 36,579 Series A Warrants by Quiet V1 and 393,569 Series A Warrants by Quiet V2.

Footnote F6

In connection with the PIPE Transaction, the exercise price, which originally was $12, was automatically adjusted pursuant to the terms of the Series A Warrants in effect on the original date of acquisition of the Series A Warrants.