Company: IPCX
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111009
Chunk: 27

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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30, 2025, and December 31, 2024.

Marketable Securities Held in Trust Account

The Company’s portfolio of investments
is comprised of cash and U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act,
with a maturity of 185 days or less, or investments in money market funds that invest in U.S. government securities and
generally have a readily determinable fair value, or a combination thereof. When the Company’s investments held in the Trust
Account are comprised of U.S. government securities, the investments are classified as trading securities, which are presented at
fair value. Gains and losses resulting from the change in fair value of these securities are included in income from investments
held in the Trust Account in the accompanying unaudited condensed consolidated statement of operations. The estimated fair values of
investments held in the Trust Account are determined using available market information. At September 30, 2025, the assets held in
the Trust Account of $256,650,172 were held in money market funds. There were no marketable securities held in the Trust Account as
of December 31, 2024. As of September 30, 2025, accrued income of $863,786 on the assets held in Trust account is included in other
receivable – dividend income on the Company’s condensed consolidated balance sheets.

Concentration of Credit Risk

Financial instruments that potentially subject
the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal
Deposit Insurance Corporation coverage limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant
adverse impact on the Company’s financial condition, results of operations, and cash flows. As of September 30, 2025 and December
31, 2024, there was $1,020,466 and $0 that exceeded the Federal Deposit Insurance Corporation coverage limit of $250,000.

Offering Costs

The Company complies with the requirements of
the ASC 340-10-S99 and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering.” Deferred offering costs consist principally
of professional and registration fees that are related to the Initial Public Offering. FASB ASC 470-20, “Debt with Conversion and
Other Options,” addresses the allocation of proceeds from the issuance of convertible debt into its equity and debt