Company: IPCX
Filing Date: 2025-01-16
Form Type: S-1/A
Source: 0001213900-25-003974
Chunk: 154

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-01-16
Form: S-1/A
Chunk 154
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 our initial business combination. In order to fund working capital deficiencies or finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our officers and directors may, but are not obligated to, loan us funds as may be required. If we complete our initial business combination, we would repay such loaned amounts. In the event that our initial business combination does not close, we may use amounts held outside the trust account or funds released to us as permitted withdrawals 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 terms of such loans, if any, have not been determined and no written agreements exist with respect to such loans. Prior to the completion of our initial business combination, we do not expect to seek loans from parties other than our sponsor, our officers, our directors or their affiliates as we do not believe third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our trust account. We expect our primary liquidity requirements during that period to include approximately $300,000 for legal, accounting, due diligence, travel and other expenses associated with structuring, negotiating and documenting successful business combinations; $75,000 for legal and accounting fees related to regulatory reporting requirements; $75,000 for Nasdaq and other regulatory fees; approximately $400,000 for directors’ and officers’ liability insurance; $40,000 for consulting, tax and miscellaneous expenses incurred during search for initial business combination target; and approximately $35,000 for general working capital that will be used for miscellaneous expenses and reserves. Commencing on the date the securities of the Company are first listed on Nasdaq, we will also pay an aggregate of $29,166.66 per month to IPAM, an affiliate of our sponsor and executive officers, for the services of Kevin Shannon, Chief Operating Officer and for office space and administrative services provided to members of our management team. Upon completion of our initial business combination or our liquidation, we will cease paying these monthly fees. These amounts are estimates and may differ materially from our actual expenses. In addition, we could use a portion of the funds not being placed in trust to pay commitment fees for financing, fees to consultants to assist us with our search for a target business or as a down payment or