Company: IPCX
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076625
Chunk: 73

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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,000 Class A ordinary shares issued and
outstanding, excluding 25,300,000 shares subject to possible redemption. At December 31, 2024, there were no shares issued and outstanding.

12

INFLECTION POINT ACQUISITION CORP. III

NOTES
TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

(Unaudited)

Class B Ordinary Shares — The
Company is authorized to issue 50,000,000 Class B ordinary shares, with a par value of $0.0001 per share. Holders of the Class B
ordinary shares are entitled to one vote for each share. At June 30, 2025 and December 31, 2024, there were 8,433,333 Class B
ordinary shares issued and outstanding, of which an aggregate of up to 1,100,000 Founder Shares were subject to forfeiture to the extent
that the underwriters’ over-allotment option was not exercised in full or in part so that the number of Founder Shares will equal
25% of the Company’s issued and outstanding ordinary shares after the Initial Public Offering (excluding the Private Placement
Shares). As a result of the full exercise of the over-allotment option by the underwriter, the 1,100,000 Founder Shares are no longer
subject to forfeiture.

Prior to the closing of the initial Business
Combination, only holders of the Class B ordinary shares will be entitled to vote on continuing the Company in a jurisdiction outside
the Cayman Islands (including any special resolution required to amend the constitutional documents of the Company or to adopt new constitutional
documents of the Company, in each case, as a result of the Company approving a transfer by way of continuation in a jurisdiction outside
the Cayman Islands). On any other matters submitted to a vote of the Company’s shareholders prior to or in connection with the
completion of the initial Business Combination, holders of the Class B ordinary shares and holders of the Class A ordinary
shares will vote together as a single class, except as required by law.

The Class B ordinary shares will automatically
convert into Class A ordinary shares immediately prior to, concurrently with or immediately following the completion of a Business
Combination or earlier at the option of the holder on a one-for-one basis, subject to adjustment. In the case that additional Class A
ordinary shares or equity-linked securities are issued or deemed