Company: IPCX
Filing Date: 2025-08-25
Form Type: 425
Source: 0001213900-25-080147
Chunk: 3

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-08-25
Form: 425
Chunk 3
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 PubCo Sole Shareholder paid for such PubCo Ordinary Share.                                                                |

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At the Second Merger Effective
Time, by virtue of the Second Merger and without any action on the part of any party or the holders of securities of the Company or PubCo:

| ● | each Company Ordinary Share that is issued and outstanding immediately                                                                   
 prior to the Second Merger Effective Time shall be converted into the right to receive a number of PubCo Ordinary Shares equal to (i)    
 that number of PubCo Ordinary Shares determined by dividing (x) $300,000,000 by (y) the Redemption Price; divided by (ii) the total      
 number of Company Ordinary Shares (including the Company Ordinary Shares underlying the Company RSUs) issued and outstanding immediately 
 prior to the Second Merger Effective Time (the “Exchange Ratio”);                                                                        |

| ● | each Company Series A-1 Preferred Share that is issued and outstanding                                                                
 immediately prior to the Second Merger Effective Time shall be converted into the right to receive a number of PubCo Preferred Shares 
 equal to (i) the aggregate Accrued Value attributable to such Company Series A-1 Preferred Share divided by (ii) the PubCo Preferred  
 Share Issue Price;                                                                                                                    |

| ● | each Company Series A-2 Preferred Share that is issued and outstanding                                                                
 immediately prior to the Second Merger Effective Time shall be converted into the right to receive a number of PubCo Preferred Shares 
 equal to (i) the aggregate Accrued Value attributable to such Company Series A-2 Preferred Share divided by (ii) the PubCo Preferred  
 Share Issue Price;                                                                                                                    |

| ● | each Company Warrant that is issued and outstanding immediately prior                                                                         
 to the Second Merger Effective Time that was issued pursuant to a Pre-Funded PIPE Subscription Agreement or PIPE Agreement, will be converted 
 into the right to receive a PubCo Series A Investor Warrant exercisable for a number of PubCo Ordinary Shares equal to (x) the number         
 of Company Ordinary Shares issuable upon conversion of the applicable Pre-Funded PIPE Investor’s or PIPE Investor’s Company                   
 Series A Preferred Shares upon a hypothetical conversion of such Company Series A Preferred Shares immediately prior to the Second Merger     
 multiplied by (y) the Exchange Ratio;                                                                                                         |

| ● | each Company Warrant that is issued and outstanding immediately prior                                                                   
 to the Second Merger Effective Time which was not issued pursuant to a Pre-Funded PIPE Subscription Agreement or PIPE