Company: IPCX
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111009
Chunk: 55

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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 less than the actual amount necessary to do so, we may have insufficient funds available to operate our business prior
to our Business Combination. Moreover, we may need to obtain additional financing either to complete our Business Combination or because
we become obligated to redeem a significant number of our Public Shares upon consummation of our Business Combination, in which case
we may issue additional securities or incur debt in connection with such Business Combination.

Off-Balance Sheet Arrangements

We have no obligations, assets or liabilities,
which would be considered off-balance sheet arrangements as of September 30, 2025. We do not participate in transactions that create
relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have
been established for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet financing
arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial
assets.

Contractual obligations

We do not have any long-term debt, capital lease
obligations, operating lease obligations or long-term liabilities, other than an agreement to pay an aggregate of $29,166.66 per month
to Inflection Point Asset Management LLC (“IPAM”), an affiliate of the Sponsor and our executive officers, a monthly fee
of $29,166.66 for the services of Kevin Shannon, Chief Operating Officer and for office space and administrative services provided to
members of our management team. We began incurring these fees on April 25, 2025 and will continue to incur these fees monthly until the
earlier of the completion of the Business Combination and our liquidation.

The underwriters are entitled to a deferred fee
of $0.45 per unit on units other than those sold pursuant to the underwriters’ option to purchase additional units and $0.65 per
unit on units sold pursuant to the underwriters’ option to purchase additional units, or $12,045,000 in the aggregate due to the
full exercise of the underwriters’ over-allotment option. The deferred fee will become payable to the underwriters from the amounts
held in the Trust Account solely in the event that the Company completes a Business Combination, subject to the terms of the underwriting
agreement.

Critical Accounting Policies

The preparation of condensed consolidated financial
statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires
management to make estimates and assumptions