Inflection Point Acquisition Corp. II, trading under ticker IPXX and sponsored by Inflection Point Capital Management, filed a definitive merger proxy (Form DEFM14A) with the SEC on July 24, 2026, advancing its proposed business combination with USA Rare Earth, Inc., a domestic critical minerals company focused on rare earth element sourcing and processing. The SPAC, which completed its IPO in 2022, is targeting the critical materials and mining sector at a time of heightened domestic interest in rare earth supply chains. The DEFM14A filing initiates the shareholder vote process, marking one of the final regulatory steps before the transaction can close. Sign up at SpacDesk for full filing data, deal timelines, and sponsor analytics on IPXX and hundreds of active SPAC transactions.