Company: IPCX
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111009
Chunk: 111

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 111
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9, 2025. The Company’s securities filings can be accessed
on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, the Company
disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future
events or otherwise.

Overview

We are a blank check company incorporated in
the Cayman Islands on January 31, 2024 formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition,
share purchase, reorganization or other similar Business Combination with one or more businesses. We intend to effectuate our Business
Combination using cash derived from the proceeds of the Initial Public Offering and the sale of the Private Placement Units, our shares,
debt or a combination of cash, shares and debt.

We expect to continue to incur significant costs
in the pursuit of our acquisition plans. We cannot assure you that our plans to complete a Business Combination will be successful.

29

Recent Updates

Air Water Business Combination

On August 25, 2025, Inflection Point, Air Water,
PubCo and Merger Sub, entered into the Air Water Business Combination Agreement.

Pursuant to terms of the Air Water Business Combination
Agreement and subject to the terms and conditions set forth therein: (a) in the First Merger, Inflection Point will be merged with and
into PubCo, as a result of which the separate corporate existence of Inflection Point shall cease and PubCo shall continue as the surviving
company, and (b) one business day after the First Merger, in the Second Merger, Air Water will be merged with and into Merger Sub, as
a result of which the separate corporate existence of the Company shall cease and Merger Sub shall continue as the surviving company
and a wholly owned direct subsidiary of PubCo, resulting in a combined company whereby PubCo will own Air Water OpCo and substantially
all of the assets and the business of the combined company will be held and operated by Air Water OpCo and its subsidiaries.

Structure and consideration

One day prior to the First Merger Effective Date:

(i)each then-issued and outstanding Units
                                            shall be automatically detached and separated into one Class A ordinary share and one Right
                                            to receive one-tenth of one Class A ordinary share, upon the closing
                                            of Inflection Point’s initial business combination;

(ii)pursuant to Inflection Point’s
                                            Am