Company: IPCX
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111009
Chunk: 54

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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, cash used in operating activities was $0.

As of September 30, 2025, we had marketable
securities held in the Trust Account of $256,650,172 and accrued interest of $863,786 which is included in other receivable –
dividend income on our condensed consolidated balance sheets. We intend to use substantially all of the funds held in the Trust
Account, including any amounts representing interest earned on the Trust Account (less income taxes payable), to complete our
Business Combination. We may withdraw interest or dividends earned on the funds held in the Trust Account for Permitted Withdrawals.
To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our Business Combination,
the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or
businesses, make other acquisitions and pursue our growth strategies.  

As of September 30, 2025, we had cash of $1,270,446.
We intend to use the funds held outside the Trust Account plus permitted withdrawals primarily to identify and evaluate target businesses,
perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective
target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses,
and structure, negotiate and complete a Business Combination.

In order to fund working capital deficiencies
or finance transaction costs in connection with a Business Combination, the Sponsor, or certain of our officers and directors or their
affiliates may, but are not obligated to, loan us funds as may be required. If we complete a Business Combination, we would repay such
loaned amounts. In the event that a Business Combination does not close, we may use a portion of the working capital held outside the
Trust Account to repay such loaned amounts but no proceeds from our Trust Account would be used for such repayment. Up to $1,500,000
of such loans may be convertible into additional Private Placement Units at a price of $10.00 per Unit at the option of the lender.
The units would be identical to the Private Placement Units.

35

We do not believe we will need to raise additional
funds in order to meet the expenditures required for operating our business that are payable prior to the closing of a Business Combination.
However, if our estimate of the costs of identifying a target business, undertaking in-depth due diligence and negotiating a Business
Combination are