Company: IPCX
Filing Date: 2025-08-25
Form Type: 425
Source: 0001213900-25-080147
Chunk: 2

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-08-25
Form: 425
Chunk 2
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 of each of Inflection Point, the Company,
PubCo and Merger Sub, and by the sole shareholder of each of PubCo and Merger Sub. The closing of the Transactions is targeted to be consummated
in the first quarter of 2026, after receipt of the required approval by the shareholders of Inflection Point (the “Inflection Point Shareholder Approval”), the required approval of the shareholders of the Company (the “Company Shareholder Approval”)
and the fulfilment of certain other terms and conditions set forth in the Business Combination Agreement.

Conversion of Securities

One day prior to the date
of the First Merger Effective Time:

| ● | each SPAC Unit that is issued and outstanding at such time shall be                 
 automatically detached into one (1) SPAC Class A Ordinary Share and one SPAC Right; |

| ● | each SPAC Class B Ordinary Share that is issued and outstanding at such time shall be automatically converted 
 into one (1) SPAC Class A Ordinary Share; and                                                                 |

| ● | each SPAC Right that is issued and outstanding at such time shall be automatically converted into one-tenth                                    
 (1/10) of one SPAC Class A Ordinary Share (provided, that if a holder of SPAC Rights would be entitled to receive a fraction of a SPAC         
 Class A Ordinary Share upon the Rights Conversion, the number of SPAC Class A Ordinary Shares issued to such holder upon the Rights Conversion 
 will be rounded down to the nearest whole number of SPAC Class A Ordinary Shares without cash settlement for such rounded fraction).           |

At the First Merger Effective
Time, by virtue of the First Merger and without any action on the part of any party or the holders of securities of Inflection Point or
PubCo:

| ● | each SPAC Class A Ordinary Share (other than any Excluded Shares, SPAC Dissenting Shares and Redeeming                                
 SPAC Shares), which is issued and outstanding immediately prior to the First Merger Effective Time, shall be converted into the right 
 to receive one (1) PubCo Ordinary Share; and                                                                                          |

| ● | each PubCo Ordinary Share that is issued and outstanding immediately                                                                              
 prior to the First Merger Effective Time all of which shall be standing in the name of the PubCo Sole Shareholder in the register of members      
 of PubCo shall be irrevocably surrendered by the PubCo Sole Shareholder to PubCo for cancellation and for consideration equal to the subscription 
 price (if any) that the