Company: IPCX
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076625
Chunk: 99

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 99
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31, 2024 (inception)
through June 30, 2024, we had net loss of $5,975, which consisted of formation and operating costs.

Liquidity and Capital Resources

Until the consummation of the Initial Public
Offering, our only source of liquidity was an initial purchase of Class B ordinary shares by the Sponsor and loans from an affiliate
of the Sponsor, Inflection Point Fund I, LP. On April 28, 2025, we consummated the Initial Public Offering of 25,300,000 Public Units,
at $10.00 per unit, generating gross proceeds of $253,000,000. Simultaneously with the closing of the Initial Public Offering, we completed
the sale 740,000 Private Placement Units at a price of $10.00 per unit in a private placement to the Sponsor and Cantor, generating gross
proceeds of $7,400,000.

Following the Initial Public Offering, the full
exercise of the over-allotment option, and the sale of the Private Units, a total of $253,000,000 was placed in the Trust Account. We
incurred $17,305,941, consisting of $4,400,000 of cash underwriting fee, $12,045,000 of deferred underwriting fee, and $860,941 of other
offering costs. 

16

For the six months ended June 30, 2025, cash
used in operating activities was $727,928. Net loss of $1,297,717 was affected by interest earned on marketable securities held in the
Trust Account of $957,808 and compensation expense of $2,581,854. Changes in operating assets and liabilities used $1,054,257 of cash
for operating activities.  

For the period from January 31, 2024 (inception)
through June 30, 2024, cash used in operating activities was $0.

As of June 30, 2025, we had marketable securities
held in the Trust Account of $253,957,808. We intend to use substantially all of the funds held in the Trust Account, including any amounts
representing interest earned on the Trust Account (less income taxes payable), to complete our Business Combination. We may withdraw
interest or dividends earned on the funds held in the Trust Account for Permitted Withdrawals. To the extent that our share capital or
debt