Company: IPCX
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111009
Chunk: 16

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 PubCo (each a “PubCo Ordinary Share”);

9

INFLECTION POINT ACQUISITION CORP. III

NOTES TO CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS

SEPTEMBER 30, 2025

(Unaudited)

(ii)each ordinary share held in treasury by Inflection Point, if any (the “Excluded
                                                                 Shares”), that is issued and outstanding immediately prior to the First Merger Effective Time shall no longer be outstanding
                                                                 and shall automatically be cancelled and shall cease to exist, without any conversion thereof and no consideration shall be paid
                                                                 with respect thereto;

(iii)each Public Share validly tendered for redemption in connection with the Air Water Business Combination
pursuant to the Amended and Restated Memorandum and Articles of Association (the “Redeeming Shares”) will be redeemed by Inflection
Point (the “Redemption”) and each Redeeming Share shall automatically be cancelled and shall cease to exist, and each holder
of such Redeeming Shares shall thereafter cease to have any rights with respect to such securities except the right to be paid the Redemption
Price in accordance with the Amended and Restated Memorandum and Articles of Association;

(iv)each ordinary share issued and outstanding immediately prior to the First Merger Effective Time and held
by a shareholder who is entitled to demand and has properly exercised in writing dissenter rights in respect of such shares in accordance
with Section 238 of the Companies Act (Revised) of the Cayman Islands (the “Companies Act”) and who has otherwise complied
with all of the provisions of the Companies Act relevant to the exercise and perfection of dissenters’ rights (such ordinary shares
being referred to collectively as the “Inflection Point Dissenting Shares” until such time as such holder fails to perfect
or otherwise waives, withdraws, or loses such holder’s dissenter rights under the Companies Act with respect to such shares) shall
no longer be outstanding and shall automatically be cancelled by virtue of the First Merger, and the holder of such Inflection Point Dissenting
Share shall thereafter cease to have any rights with respect to such Inflection Point Dissenting Share, but instead shall be entitled
to the right to be paid the fair value of such Inflection Point Dissenting Share and such other rights as are granted by Section 238 of
the Companies Act; provided, however, that if, after the First Merger Effective Time, such holder fails to perfect, waives