Company: IPCX
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111009
Chunk: 20

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 following events (each a “Triggering Event”):

●(a) with respect to any full fiscal quarter of PubCo ending on or prior to June 30, 2026, the revenue from continuing operations (excluding extraordinary gains) for such fiscal quarter exceeds $25,000,000, or (b) PubCo or any of its consolidated subsidiaries enters into a binding and definitive agreement on or prior to June 30, 2026 with the US Federal Emergency Management Agency, the US Department of War or other US federal agency or Regenerate1 LLC that provides for minimum annual and recurring Revenue of at least $100,000,000;

●with respect to any full fiscal quarter of PubCo ending on or prior to December 31, 2026, the revenue
from continuing operations (excluding extraordinary gains) for such fiscal quarter exceeds $50,000,000;

●with respect to any full fiscal quarter of PubCo ending on or prior to December 31, 2026, the EBITDA (as
defined and reported by Bloomberg L.P.) for such fiscal quarter exceeds $12,500,000; and

●within the time period beginning on the date that is the 6-month anniversary of the Second Merger Effective Time and ending on the date that is the 18-month anniversary of the Second Merger Effective Time, the closing sale price of one PubCo Ordinary Share as reported on Nasdaq (or the exchange on which the PubCo Ordinary Shares are then listed) for a period of at least twenty (20) days out of thirty (30) consecutive trading days ending on the trading day immediately prior to the date of determination, is greater than or equal to $20.00, in each case subject to equitable adjustments for any reclassification, share split (including a reverse share split), reorganization, recapitalization, split-up, combination, exchange of shares, readjustment, or other similar transaction, or a share dividend or share distribution.

Air Water Financings

In connection with the transactions contemplated
by the Air Water Business Combination Agreement, on July 25, Air Water Ventures Ltd, a company incorporated under the laws of England
and Wales (“Air Water UK”) entered into a subscription agreement with IPF, pursuant to which IPF subscribed for and purchased
from Air Water UK preferred shares for an aggregate of $4 million. Such preferred shares were exchange for Air Water Series A1 Preferred
Shares and Air Water Warrants to purchase Air Water Ordinary Shares.

In connection with the