Elroy Air, a developer of autonomous heavy-cargo drones, has appointed Jeremy Hux as Chief Financial Officer, effective immediately, as the company prepares to enter the public markets through a merger with a special purpose acquisition company.

Hux brings more than 25 years of experience across investment banking and private equity, having held roles at Morgan Stanley, Credit Suisse, and Marathon Capital, where he advised on more than $50 billion in financing and mergers and acquisitions transactions. He most recently served as CFO of UPSIDE Foods and previously as CFO of Manus Bio.

In his new role, Hux will oversee capital markets strategy, financial reporting, accounting, and treasury functions at Elroy Air alongside CEO Andrew Clare.

"Jeremy brings a rare combination of deep-tech operating experience and tier-one capital markets pedigree to Elroy Air," said Clare in a statement.

The appointment comes as Elroy Air advances a planned business combination with Inflection Point Acquisition Corp. VII (Nasdaq: IPXG), a SPAC affiliated with Cohen & Company (NYSE American: COHN). The transaction is expected to close in the fourth quarter of 2026, subject to regulatory and shareholder approval.

According to a press release, the company was recently awarded a multi-year U.S. Army contract worth up to $46 million and earlier this year became 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.