Company: IPCX
Filing Date: 2025-06-09
Form Type: 10-Q
Source: 0001213900-25-052614
Chunk: 24

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-06-09
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 ordinary shares underlying the rights and after
giving effect to any redemptions of Public Shares by public shareholders) after such conversion plus (ii) the sum of the total number
of Class A ordinary shares issued, or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights
issued or deemed issued, by the Company in connection with or in relation to the consummation of a Business Combination, excluding any
Class A ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, or to
be issued, to any seller in a Business Combination and any Private Placement Units issued to the Sponsor, officers or directors upon
conversion of working capital loans; provided that such conversion of Founder Shares will never occur on a less than one-for-one basis.

13

INFLECTION POINT ACQUISITION CORP. III

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited) 

Rights — Except
in cases where the Company is not the surviving company in a business combination, each holder of a right will automatically receive one-tenth
(1/10) of one Class A ordinary share upon consummation of the initial Business Combination. The Company will not issue fractional
shares in connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise
addressed in accordance with the applicable provisions of Cayman law. In the event the Company is not the surviving company upon completion
of the initial business combination, each holder of a Right will be required to affirmatively convert his, her or its rights in order
to receive the one-tenth (1/10) of one Class A ordinary share underlying each Right upon consummation of the Business Combination.
If the Company is unable to complete the initial Business Combination within the required time period and the Company will redeem the
Public Shares for the funds held in the Trust Account, including interest earned on the funds held in the Trust Account (net of taxes
paid or payable and up to $100,000 of interest to pay liquidation expenses), holders of Rights will not receive any of such funds for
their Rights and the Rights will expire worthless.

NOTE 8. SEGMENT INFORMATION

ASC Topic 280, “Segment Reporting,”
establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic
areas, and major customers