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

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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the “Redemption
Price”) 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of a Business Combination, including interest earned on the funds held in the Trust Account (net of amounts withdrawn to fund our working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”).

6

INFLECTION POINT ACQUISITION CORP. III

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited)

The Public Shares are recorded at redemption value
and classified as temporary equity upon the completion of the Initial Public Offering, in accordance with Accounting Standards Codification
(“ASC”) Topic 480 “Distinguishing Liabilities from Equity.”

If the Company seeks shareholder approval, the
Company will complete a Business Combination only if it receives an ordinary resolution under Cayman Islands law approving a Business
Combination, which requires the affirmative vote of a majority of the Company’s ordinary shares which are represented in person
or by proxy and are voted at a general meeting of the Company. If a shareholder vote is not required under applicable law or stock exchange
listing requirements and the Company does not decide to hold a shareholder vote for business or other reasons, the Company will, pursuant
to its Amended and Restated Memorandum and Articles of Association, conduct the redemptions pursuant to the tender offer rules of the
Securities and Exchange Commission (“SEC”), and file tender offer documents containing substantially the same information
as would be included in a proxy statement with the SEC prior to completing a Business Combination. If the Company seeks shareholder approval
in connection with a Business Combination, the Sponsor has agreed to vote its Founder Shares (as defined in Note 5), the Private Placement
Shares (as defined in Note 4) and any Public Shares purchased in or after the Initial Public Offering in favor of approving a Business
Combination and to waive its redemption rights with respect to any such shares in