Company: IPCX
Filing Date: 2025-04-16
Form Type: S-1/A
Source: 0001213900-25-032632
Chunk: 166

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-04-16
Form: S-1/A
Chunk 166
---
 in which it sold 25,000,000 units, each consisting of one Class A ordinary share of IPXX and one -halfof one warrant to purchase one Class A ordinary share of IPXX, for an offering price of $10.00 per unit, generating aggregate proceeds of $250,000,000. On August 21, 2024, IPXX entered into a business combination with USA Rare Earth, LLC (“USARE”), a company whose mission is to establish a vertically integrated, domestic rare earth magnet supply chain that supports the future state of energy, mobility, and national security in the United States. USARE is developing a NdFeB magnet manufacturing plant in the United States, and establishing domestic rare earth and critical minerals supply, extraction, and processing capabilities to supply its magnet manufacturing plant and market surplus materials to third -parties. IPXX held a vote on November 18, 2024 to extend the date by which IPXX must complete an initial business combination from November 30, 2024 to August 21, 2025. In connection with such extension, holders of 22,794,651 Class A ordinary shares of IPXX, or 91.18% of the outstanding IPXX public shares, exercised their right to redeem those shares for cash at a price of approximately $10.83 per share, for an aggregate of $246.9million. Prior to the extraordinary general meeting of IPXX shareholders to approve the business combination with USARE, holders of 128,140 IPXX Class A ordinary shares, or 5.8% of the outstanding IPAX Class A ordinary shares, exercised their right to redeem those shares for cash at a price of approximately $11.00 per share, for an aggregate of $1,409,139.27. The transaction with USARE closed on March13, 2025 and began trading on March14, 2025 under the ticker “USAR.” We believe USARE represents a promising opportunity in an industry with significant tailwinds. We believe the deal’s valuation was attractive and the significant $31.7million capital commitment from affiliates of the sponsor and their network of investors supporting the transaction was a main differentiator. USARE’s shares of common stock and its warrants are listed on the Nasdaq Stock Market under the symbols “USAR” and “USARW,” respectively. On April14, 2025, the closing price of shares of the common stock was $11.75 per share and the closing price of