Company: IPCX
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111009
Chunk: 142

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 142
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 company for a Business
Combination. We do not expect to generate any operating revenues until after the completion of our Business Combination. We generate
non-operating income in the form of interest income on marketable securities held in the Trust Account. We incur expenses as a result
of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the three months ended September 30, 2025,
we had a net loss of $90,821, which consists of operating costs of $2,773,017, offset by interest income on marketable securities held
in the Trust Account of $2,682,196.

For the nine months ended September 30, 2025,
we had a net loss of $1,388,538, which consists of operating costs of $3,320,642 and compensation expense of $2,581,854, offset by interest
income on marketable securities held in the Trust Account of $4,513,958.

For the three months ended September 30, 2024,
we had net loss of $16,708, which consisted of formation and operating costs.

For the period from January 31, 2024 (inception)
through September 30, 2024, we had net loss of $22,683, which consisted of formation and operating costs.

34

Liquidity and Capital Resources

Until the consummation of the Initial Public
Offering, our only source of liquidity was an initial purchase of Class B ordinary shares by the Sponsor and loans from an affiliate
of the Sponsor, Inflection Point Fund I, LP. On April 28, 2025, we consummated the Initial Public Offering of 25,300,000 Public Units,
at $10.00 per unit, generating gross proceeds of $253,000,000. Simultaneously with the closing of the Initial Public Offering, we completed
the sale 740,000 Private Placement Units at a price of $10.00 per unit in a private placement to the Sponsor and Cantor, generating gross
proceeds of $7,400,000.

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 transaction costs of $17,305,941, consisting of $4,400,000 of cash under