Company: IPCX
Filing Date: 2025-06-09
Form Type: 10-Q
Source: 0001213900-25-052614
Chunk: 23

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-06-09
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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2024, there were no Class A ordinary
shares issued and outstanding.

Class B Ordinary Shares — The
Company is authorized to issue 50,000,000 Class B ordinary shares, with a par value of $0.0001 per share. Holders of the Class B
ordinary shares are entitled to one vote for each share. At March 31, 2025 and December 31, 2024, there were 8,433,333 Class B
ordinary shares issued and outstanding, of which an aggregate of up to 1,100,000 Founder Shares were subject to forfeiture to the extent
that the underwriters’ over-allotment option is not exercised in full or in part so that the number of Founder Shares will equal
25% of the Company’s issued and outstanding ordinary shares after the Initial Public Offering (excluding the Private Placement Shares).
As a result of the full exercise of the over-allotment option by the underwriter on April 28, 2025, the 1,100,000 Founder Shares are no
longer subject to forfeiture

Prior to the closing of the initial Business Combination,
only holders of the Class B ordinary shares will be entitled to vote on continuing the Company in a jurisdiction outside the Cayman
Islands (including any special resolution required to amend the constitutional documents of the Company or to adopt new constitutional
documents of the Company, in each case, as a result of the Company approving a transfer by way of continuation in a jurisdiction outside
the Cayman Islands). On any other matters submitted to a vote of the Company’s shareholders prior to or in connection with the completion
of the initial Business Combination, holders of the Class B ordinary shares and holders of the Class A ordinary shares will
vote together as a single class, except as required by law.

The Class B ordinary shares will automatically
convert into Class A ordinary shares immediately prior to, concurrently with or immediately following the completion of a Business
Combination or earlier at the option of the holder on a one-for-one basis, subject to adjustment. In the case that additional Class A
ordinary shares or equity-linked securities are issued or deemed issued in connection with a Business Combination, the number of Class A
ordinary shares issuable upon conversion of all Founder Shares will equal, in the aggregate, 25% of the sum of (i) the total number of
Class A ordinary shares outstanding (excluding the Private Placement Units and the