Company: IPCX
Filing Date: 2025-06-09
Form Type: 10-Q
Source: 0001213900-25-052614
Chunk: 44

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-06-09
Form: 10-Q
Item: Part I, Item 8
Chunk 44
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 and a portion of the proceeds of
the sale of the Private Placement Units, are held in the trust account (the “Trust Account”) and will be initially be invested
only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions
under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations; the holding
of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended Business Combination and,
may at any time be held as cash or cash items, including in demand deposit accounts at a bank, as determined by the Company, until the
earlier of: (i) the completion of a Business Combination and (ii) the distribution of the funds in the Trust Account to the
Company’s shareholders, as described below.

5

INFLECTION POINT ACQUISITION CORP. III

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited) 

The Company will provide its shareholders with
the opportunity to redeem all or a portion of their Public Shares in connection with the completion of a Business Combination either (i) in
connection with a general meeting called to approve the Business Combination or (ii) without a shareholder vote by means of a tender
offer. The decision as to whether the Company will seek shareholder approval of a Business Combination or conduct a tender offer will
be made by the Company. The public shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount held
in the Trust Account (initially $10.00 per share), calculated as of two business days prior to the completion of a Business
Combination, including interest earned on the funds held in the Trust Account (net of amounts withdrawn to fund our working capital requirements,
subject to an annual limit of $250,000 (plus the rollover of unused amounts from prior years), and/or to pay for our taxes (any withdrawals
to pay for our taxes (which shall exclude any 1% U.S. federal excise tax on stock repurchases under the Inflation Reduction Act of 2022
that is imposed on us, if any) shall not be subject to the $250,000 annual limitation described in the foregoing)) (such withdrawals,
“Permitted Withdrawals”).

The Public Shares are recorded at redemption value