Company: IPCX
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111009
Chunk: 104

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 104
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LECTION POINT ACQUISITION CORP. III

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited)

Underwriting Agreement

The underwriters had a 45-day option from the
date of the Initial Public Offering to purchase up to an additional 3,300,000 units to cover over-allotments, if any. On April 28, 2025,
the underwriter fully exercised its over-allotment option. The underwriters were entitled to a cash underwriting discount of $0.20 per
unit, or $4,400,000 in the aggregate (whether or not the underwriters’ option to purchase additional units was exercised), which
was paid upon closing of the Initial Public Offering.

In addition, the underwriters are entitled to
a deferred fee of $0.45 per unit on units other than those sold pursuant to the underwriters’ option to purchase additional units
and $0.65 per unit on units sold pursuant to the underwriters’ 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.

Deferred Legal Fees

As of September 30, 2025, and December 31, 2024,
the Company had a total of $2,401,554 and $14,456, respectively, of deferred legal fees to be paid to the Company’s legal advisors
upon the consummation of the Business Combination, which are classified as a non-current liability in the accompanying condensed consolidated
balance sheets.

NOTE 7. SHAREHOLDERS’ DEFICIT

Preference Shares — The
Company is authorized to issue 5,000,000 preference shares with a par value of $0.0001. The Company’s board of directors is authorized
to fix the voting rights, if any, designations, powers, preferences, the relative, participating, optional or other special rights and
any qualifications, limitations and restrictions thereof, applicable to the shares of each series. The board of directors will be able
to, without shareholder approval, issue preference shares with voting and other rights that could adversely affect the voting power and
other rights of the holders of