Company: IPCX
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111009
Chunk: 73

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited)

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

Inflection Point Acquisition Corp. III (the “Company”
or “Inflection Point”) is a special purpose acquisition company incorporated as a Cayman Islands exempted company on January
31, 2024. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses (“Business Combination”). On August 5, 2025, in connection with
the Company’s Business Combination Agreement (as defined below) IPCX Merger Sub Limited, a Cayman Islands exempted company (hereinafter,
“Merger Sub”), was formed and is wholly-owned subsidiary of the Company.

Although the Company is not limited to a particular
industry or geographic region for purposes of completing a Business Combination, the Company intends to capitalize on the ability of its
management team to identify and combine with a business or businesses that can benefit from its management team’s established global
relationships and operating experience. The Company is an early stage and emerging growth company and, as such, the Company is subject
to all of the risks associated with early stage and emerging growth companies.

As of September 30, 2025, the Company had not
commenced any operations. All activity for the period from January 31, 2024 (inception) through September 30, 2025, relates to the Company’s
formation and the initial public offering (“Initial Public Offering”), which occurred on April 28, 2025 (as described below),
and subsequent to the Initial Public Offering, identifying a target company for a Business Combination. The Company will not generate
any operating revenues until after the completion of a Business Combination, at the earliest. The Company will generate non-operating
income in the form of interest and dividend income from the proceeds derived from the Initial Public Offering and the concurrent sale
of the Private Placement Units (as defined below). The Company has selected December 31 as its fiscal year end.

The Company’s sponsor is Inflection Point
Holdings III LLC (the “Sponsor”).

On February 5, 2024, the Sponsor made a capital
contribution of $25,000, or approximately $0.004 per share, to cover certain of our offering and formation costs in exchange for