Company: IPCX
Filing Date: 2025-04-08
Form Type: S-1/A
Source: 0001213900-25-029998
Chunk: 169

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-04-08
Form: S-1/A
Chunk 169
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 seek to partner with a proven, exceptional management team that is already in place. Experience with SPACs In January 2021, members of our management team founded Inflection Point Acquisition Corp. (“IPAX”), a SPAC formed for substantially similar purposes as our company. IPAX completed its initial public offering in September 2021, in which it sold 32,975,000 units, each consisting of one Class A ordinary share of IPAX and one -halfof one warrant to purchase one Class A ordinary share of IPAX, for an offering price of $10.00 per unit, generating aggregate proceeds of $329,750,000. On September 16, 2022, IPAX announced its business combination with Intuitive Machines, Inc. (“LUNR”), a diversified space exploration, infrastructure, and services company with marquee contracts supporting NASA’s $93 billion Artemis program. Prior to the extraordinary general meeting of IPAX shareholders to approve the business combination with LUNR, holders of 27,481,818 of IPAX Class A ordinary shares, or 83.34% of the 105 outstanding IPAX Class A ordinary shares and 89.37% of the outstanding IPAX Class A ordinary shares not held by affiliates of IPAX, exercised their right to redeem those shares for cash at a price of approximately $10.1843 per share, for an aggregate of $279,884,313.81. The transaction with LUNR closed on February 13, 2023, and began trading on Nasdaq on February 14, 2023 under the ticker “LUNR.” We believe LUNR represents a high -quality, public -readycompany with a history of significant revenue growth. We believe the deal’s valuation was attractive and the significant $50 million capital commitment from the sponsor supporting the transaction was a main differentiator. IPAX supported the transaction with extensive due diligence, significant investor outreach, and comprehensive planning, including a detailed media plan and retaining due diligence and capital markets advisors. There was no vote held to extend the date by which IPAX was required to complete its initial business combination because IPAX completed its initial business combination with LUNR within 24 months of its initial public offering. LUNR’s shares of Class A common stock and its warrants are listed on the Nasdaq Stock Market under the symbols “LUNR” and “LUNRW,” respectively. On April4, 2025, the closing price of shares of the Class