Company: IPCX
Filing Date: 2025-08-25
Form Type: 425
Source: 0001213900-25-080147
Chunk: 13

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-08-25
Form: 425
Chunk 13
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 conditions. The New Registration Rights Agreement also provides that PubCo will
pay certain expenses relating to such registrations and indemnify the shareholders against certain liabilities.

The foregoing summary of the
New Registration Rights Agreement is qualified in its entirety by reference to the full text of the form of New Registration Rights Agreement,
which is attached as Exhibit 10.5 hereto and the terms of which are incorporated herein by reference.

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Series A Preferred Shares Investment

In connection with the transactions
contemplated by the Business Combination Agreement, the Company entered into (i) the Pre-Funded PIPE Subscription Agreement with certain
investors identified on the signature pages thereto (collectively, the “Series A-1 Investors”), pursuant to which the
Pre-Funded PIPE Investors have agreed to purchase approximately $32.5 million (the “Series A-1 Investment”) of Company
Series A-1 Preferred Shares and Company Warrants (the “Signing PIPE Securities”), which transactions have been consummated
concurrently with the execution of the Business Combination Agreement and (ii) the Closing PIPE Subscription Agreement (together with
the Pre-Funded PIPE Subscription Agreement, the “Subscription Agreements”) with certain investors identified on the
signature pages thereto, pursuant to which the Closing PIPE Investors have agreed to purchase approximately $31 million (the “Series A-2 Investment” and together with the Series A-1 Investment, the “Series A Investments”) of Company Series
A Preferred Shares and Company Warrants (together with the Signing PIPE Securities, the “Securities”), which transactions
will be consummated immediately prior to the Second Merger Effective Time.

The Subscription Agreements
include customary representations and warranties from the Company and the Series A Investors and customary closing conditions. The Subscription
Agreements also include customary covenants and agreements related to transfer restrictions and indemnification. In addition, PubCo and
the Series A Investors will enter into registration rights agreements providing for customary registration rights for the Securities.

Dividends: The PubCo
Series A Preferred Shares will accrue dividends daily at the rate of 12% per annum of the Accrued Value (as defined in the PubCo A&R
Articles) (if paid in kind), or 10% per annum of the Accrued Value (if paid in cash). Such dividends will compound semi-annually.

Liquidation Preference:
Upon a Deemed Liquidation Event, Disposal or on a distribution of assets on a liquidation,