Company: IPCX
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111009
Chunk: 34

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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iii) the Private Placement Units (including the Private Placement Shares, Private Placement Rights and Class A ordinary
shares underlying the Private Placement Rights) will be entitled to registration rights, (iv) each holder of Private Placement Shares
will agree to vote any Private Placement Shares in favor of a proposed initial Business Combination if the Company seeks shareholder
approval for such Business Combination and in favor of any proposals recommended by the Company’s board of directors in connection
with such Business Combination, and (v) with respect to Private Placement Rights held by Cantor. and/or its designees, will not be convertible
more than five years from the commencement of sales in the Initial Public Offering in accordance with FINRA Rule 5110(g)(8). The Private
Placement Units may be worthless if the Company does not complete an initial Business Combination.

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INFLECTION POINT ACQUISITION CORP. III

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited)

NOTE 5. RELATED PARTY TRANSACTIONS

Founder Shares

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 5,750,000
Founder Shares. Subsequently on October 10, 2024, the Company effected a share capitalization of 1,916,667 Class B ordinary shares,
as a result of which the Sponsor owned 7,666,667 Founder Shares. On November 18, 2024, the Company effected a share capitalization
of 766,667 Class B ordinary shares, as a result of which the Sponsor owns 8,433,333 Founder Shares for which it 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 202