Company: IPCX
Filing Date: 2025-08-25
Form Type: 425
Source: 0001213900-25-080147
Chunk: 12

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-08-25
Form: 425
Chunk 12
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 or other similar transaction that results in all of its shareholders having
the right to exchange their shares of common stock for cash, securities or other property. For purposes of the Sponsor Lock-Up Agreement,
(a) the “Private Placement Restricted Securities” means the PubCo Ordinary Shares issued to the Sponsor pursuant to
the Business Combination Agreement in exchange for the 500,000 units consisting of one SPAC Class A Ordinary Share and one right to receive
one-tenth of one SPAC Class A Ordinary Share upon Closing following the unit separation (together with any dividends or distributions
with respect to such securities or into which such securities are changed or exchanged or which are received in any recapitalization,
share exchange, share conversion or similar transactions), and (b) the “General Restricted Securities” means the PubCo
Ordinary Shares issued to the Sponsor or the Insiders in exchange for the SPAC Class A Ordinary Shares received by Sponsor or the Insiders
upon conversion of the SPAC Class B Ordinary Shares, pursuant to the terms of the Business Combination Agreement (together with any dividends
or distributions with respect to such securities or into which such securities are changed or exchanged or which are received in any recapitalization,
share exchange, share conversion or similar transactions).

The foregoing summaries of
the Company Shareholder Lock-Up Agreement and the Sponsor Lock-Up Agreement are qualified in their entirety by reference to the full text
of the form of Sponsor Lock-Up Agreement and the form of Company Shareholder Lock-Up Agreement, which are attached as Exhibits 10.3 and
10.4 hereto, respectively, and the terms of which are incorporated herein by reference.

New Registration Rights Agreement

The Business Combination Agreement
contemplates that, at the Closing, PubCo, certain Company equityholders, Sponsor, Inflection Point, and the other parties signatory thereto
will enter into a Registration Rights Agreement (the “New Registration Rights Agreement”), pursuant to which PubCo
will agree to register for resale certain shares of PubCo Registrable Securities that are held by the parties thereto from time to time.
Pursuant to the New Registration Rights Agreement, among other things, PubCo will agree to file a shelf registration statement registering
the sale or resale of all of the Registrable Securities (as defined in the New Registration Rights Agreement) no later than 30 days after
the Closing Date. Pursuant to the New Registration Rights Agreement, PubCo will also provide customary “piggyback” registration
rights, subject to certain requirements and customary