Company: IPCX
Filing Date: 2025-06-09
Form Type: 10-Q
Source: 0001213900-25-052614
Chunk: 26

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-06-09
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 Based upon this review,
other than as described below, the Company did not identify any subsequent events that would have required adjustment or disclosure in
the condensed financial statements.

On April 28, 2025, the Company consummated the
Initial Public Offering of 25,300,000 units at $10.00 per unit, which includes the full exercise of the underwriters’ over-allotment
option, generating gross proceeds of $253,000,000. Simultaneously with the closing of the Initial Public Offering, the Company consummated
the sale of an aggregate of 740,000 Private Placement Units to the Sponsor and Cantor, at a price of $10.00 per unit, generating gross
proceeds of $7,400,000.

On April 28, 2025, in connection with the Initial
Public Offering, the underwriter was paid a cash underwriting discount of $4,400,000. In addition, the underwriter will be entitled to
a deferred fee of $0.45 per unit on units other than those sold pursuant to the underwriter’s’ option to purchase additional
units and $0.65 per unit on units sold pursuant to the underwriter’s option to purchase additional units, or $12,045,000 in the
aggregate due to the full exercise of the underwriters’ over-allotment option. The deferred fee will become payable to the underwriters
from the amounts held in the Trust Account solely in the event that the Company completes a Business Combination, subject to the terms
of the underwriting agreement.

On April 28, 2025, at the closing of the Initial
Public Offering, the Company repaid the $184,282 outstanding under the Promissory Note. Borrowings under the Note are no longer available.

The Company entered into an agreement, commencing
on April 25, 2025, to pay a for services of Kevin Shannon, the Chief Operating Officer, and for office and administrative services of
$29,166.66 to IPAM, until the earlier of an initial Business Combination or liquidation of the Company. In addition, the Company, pursuant
to the services and indemnification agreement with the Sponsor, IPAM and Kevin Shannon relating to the monthly payment for the services
of Kevin Shannon, Chief Operating Officer and for office space and administrative services provided to members of our management team,
agreed that it will indemnify the Sponsor and IPAM from any claims arising out of or