Company: IPCX
Filing Date: 2025-06-09
Form Type: 10-Q
Source: 0001213900-25-052614
Chunk: 81

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-06-09
Form: 10-Q
Item: Part I, Item 2
Chunk 81
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 at $10.00 per Units
generating gross proceeds of $253,000,000. Simultaneously with the closing of the Initial Public Offering, we consummated the sale of
an aggregate of 740,000 Private Placement Units at a price of $10.00 per unit in a private placement to the Sponsor and Cantor Fitzgerald
& Co., generating gross proceeds of $7,400,000.

16

Following the Initial Public Offering, the full
exercise of the over-allotment option, and the sale of the Private Units, a total of $253,000,000 was placed in the Trust Account. We
incurred $17,305,941, consisting of $4,400,000 of cash underwriting fee, $12,045,000 of deferred underwriting fee, and $860,941 of other
offering costs.

For the three months ended March 31, 2025, cash
used by operating activities was $0. Net loss of $80,334 was affected by changes in operating assets and liabilities provided $75,334
of cash for operating activities and payment of operating costs via promissory note – related party of $5,000.

We intend to use substantially all of the funds
held in the Trust Account, including any amounts representing interest earned on the Trust Account (less income taxes payable), to complete
our Business Combination. We may withdraw interest or dividends earned on the funds held in the Trust Account for permitted withdrawals.
To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our Business Combination, the
remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses,
make other acquisitions and pursue our growth strategies.  

We intend to use the funds held outside the Trust
Account plus permitted withdrawals primarily to identify and evaluate target businesses, perform business due diligence on prospective
target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their representatives
or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete
a Business Combination.

In order to fund working capital deficiencies
or finance transaction costs in connection with a Business Combination, the Sponsor, or certain of our officers and directors or their
affiliates may, but are not obligated to, loan us funds as may be required. If we complete a Business Combination, we would repay such
loaned amounts