Company: IPCX
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076625
Chunk: 23

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 paid approximately $0.003 per share. The share capitalizations are disclosed as retroactive adjustments.
The Founder Shares include an aggregate of up to 1,100,000 shares subject to forfeiture by the Sponsor to the extent that the underwriters’
over-allotment is not exercised in full or in part, so that the number of Founder Shares collectively represents 25% of the Company’s
issued and outstanding shares upon the completion of the Initial Public Offering (excluding the Private Placement Units). As a result
of the full exercise of the over-allotment option by the underwriter, the 1,100,000 Founder Shares are no longer subject to forfeiture.

In April 2025, the Sponsor sold membership
interests equivalent to an aggregate of 340,000 Class B ordinary shares to four independent director nominees for approximately
$0.003 per share. The sale of the Founders Shares to the Company’s independent directors is in the scope of FASB ASC Topic
718, “Compensation-Stock Compensation” (“ASC 718”). Under ASC 718, stock-based compensation associated with
equity-classified awards is measured at fair value upon the grant date. The fair value of the 340,000 shares granted to the
Company’s independent directors was $775,892 or approximately $2.29 per share. Also, in April 2025, the Sponsor sold
membership interests equivalent to an aggregate of 791,382 Class B ordinary shares to three officers for approximately $0.003 per
share. The fair value of the 791,382 shares granted to the Company’s officers was $1,805,962 or approximately $2.29 per share.
Such amount has been recorded as compensation expense on April 2, 2025, the date the shares were granted, as there are no service
restrictions. The valuation was derived using PWERM model in which the expected share price at the initial Business Combination
close is $9.709, the likelihood of the Initial Public Offering was 80%, the likelihood of a Business Combination was 30% and the
applied Discount for Lack of Marketability (DLOM) was 1.8%.

The Sponsor has agreed not to transfer, assign
or sell any of the founder shares and any Class A ordinary shares issuable upon conversion thereof until the earlier to occur of:
(i) 180 days after the completion of the initial Business Combination or (ii) the date on which the Company completes
a