Company: IPCX
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076625
Chunk: 52

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 52
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NOTES
TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

(Unaudited)

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

Inflection Point Acquisition Corp. III (the “Company”)
is a special purpose acquisition company incorporated as a Cayman Islands exempted company on January 31, 2024. The Company was formed
for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination
with one or more businesses (“Business Combination”).

Although the Company is not limited to a particular
industry or geographic region for purposes of completing a Business Combination, the Company intends to capitalize on the ability of
its management team to identify and combine with a business or businesses that can benefit from its management team’s established
global relationships and operating experience. The Company is an early stage and emerging growth company and, as such, the Company is
subject to all of the risks associated with early stage and emerging growth companies.

As of June 30, 2025, the Company had not commenced
any operations. All activity for the period from January 31, 2024 (inception) through June 30, 2025, relates to the Company’s formation
and the initial public offering (“Initial Public Offering”), which occurred on April 28, 2025 (as described below), and subsequent
to the Initial Public Offering, identifying a target company for a Business Combination. The Company will not generate any operating
revenues until after the completion of a Business Combination, at the earliest. The Company will generate non-operating income in the
form of interest and dividend income from the proceeds derived from the Initial Public Offering and the concurrent sale of the Private
Placement Units (as defined below). The Company has selected December 31 as its fiscal year end.

The Company’s sponsor is Inflection Point
Holdings III LLC (the “Sponsor”).

The registration statement for the Company’s
Initial Public Offering was declared effective on April 24, 2025. On April 28, 2025, the Company consummated the Initial Public Offering
of 25,300,000 units at $10.00 per unit (the “Public Units” and with respect to the ordinary shares included in the Public
Units, the “Public Shares”), which includes the full exercise of the underwriters’ over-allotment option of 3,300,000
Units (see