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

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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 (1) $10.00 per Public Share and (2) the
actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.00 per
Public Share due to reductions in the value of trust assets, less taxes paid or payable. This liability will not apply to any claims by
a third party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account nor will
it apply to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering against certain liabilities,
including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). Moreover, in the event that an
executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability
for such third-party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account
due to claims of creditors by endeavoring to have all vendors, service providers (other than the Company’s independent registered
public accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements with
the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.

8

INFLECTION POINT ACQUISITION CORP. III

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited)

Air Water Business Combination

On August 25, 2025, Inflection Point, Air
Water Ventures Holdings Limited, a Cayman Islands exempted company (“Air Water”), Air Water Ventures Limited, a Cayman
Islands exempted company (“PubCo”) and Merger Sub, entered into a Business Combination Agreement (the “Air Water
Business Combination Agreement”).

Pursuant to terms of the Air Water Business
Combination Agreement and subject to the terms and conditions set forth therein: (a) Inflection Point will be merged with and into
PubCo, as a result of which the separate corporate existence of Inflection Point shall cease and PubCo shall continue as the
surviving company (the “First Merger”), and (b) one business day after the First Merger, Air Water will be merged with
and into Merger Sub, as a result of which the separate corporate existence