Company: IPCX
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111009
Chunk: 36

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 expenses of the
Initial Public Offering. The loan was non-interest bearing, unsecured and due at the earlier of December 31, 2025 or the closing of
the Initial Public Offering. The Company repaid $184,282 at the closing of the Initial Public Offering. As of September 30, 2025,
and December 31,2024, respectively, the Company had $187 and $126,884 outstanding under the promissory note. Borrowings under the
note are no longer available.

Services and Indemnification Agreement

Commencing on the date the securities of the Company
are first listed on Nasdaq, April 25, 2025, the Company will pay an aggregate of $29,167 per month to Inflection Point Asset Management
LLC (“IPAM”), an affiliate of the Sponsor and executive officers, for the services of Kevin Shannon, Chief Operating Officer
and for office space and administrative services provided to members of our management team. Upon completion of a Business Combination
or its liquidation, the Company will cease paying these monthly fees. In addition, the Company, pursuant to the services and indemnification
agreement with the Sponsor, IPAM and Kevin Shannon relating to the monthly payment for the services of Kevin Shannon, Chief Operating
Officer and for office space and administrative services provided to members of our management team, agreed that it will indemnify the
Sponsor and IPAM from any claims arising out of or relating to the Initial Public Offering or the Company’s operations or conduct
of the Company’s business or any claim against the Sponsor and/or IPAM alleging any expressed or implied management or endorsement
by the Sponsor and/or IPAM of any of the Company’s activities or any express or implied association between the Sponsor and/or IPAM,
on the one hand, and the Company or any of its other affiliates, on the other hand, which agreement provides that the indemnified parties
cannot access the funds held in the Trust Account.

For the three months ended September 30, 2025,
we incurred and paid $87,500 of fees for these services. For the nine months ended September 30, 2025, we incurred and paid $151,667 of
fees for these services.

Related Party Loans

In order to finance transaction costs in connection
with an intended initial Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the officers and directors may,
but are not obligated to, loan the Company funds as may be required.