Company: IPCX
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076625
Chunk: 24

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 24
---
 liquidation, merger, share exchange or other similar transaction after the initial Business Combination that results in all of the
shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property.

Promissory Note — Related Party

On October 10, 2024, an affiliate of the Sponsor,
Inflection Point Fund I, LP, had agreed to loan the Company up to $300,000 to be used for a portion of the expenses of the Initial Public
Offering. The loan was non-interest bearing, unsecured and due at the earlier of December 31, 2025 or the closing of the Initial Public
Offering. The Company repaid $184,282 at the closing of the Initial Public Offering. As of June 30, 2025, the Company had $187 outstanding
under the promissory note. Borrowings under the note are no longer available.

Services and Indemnification Agreement

Commencing on the date the securities of the
Company are first listed on Nasdaq, April 25, 2025, the Company will pay an aggregate of $29,167 per month to Inflection Point Asset
Management LLC (“IPAM”), an affiliate of the Sponsor and executive officers, for the services of Kevin Shannon, Chief Operating
Officer and for office space and administrative services provided to members of our management team. Upon completion of a Business Combination
or its liquidation, the Company will cease paying these monthly fees. In addition, the Company, pursuant to the services and indemnification
agreement with the Sponsor, IPAM and Kevin Shannon relating to the monthly payment for the services of Kevin Shannon, Chief Operating
Officer and for office space and administrative services provided to members of our management team, agreed that it will indemnify the
Sponsor and IPAM from any claims arising out of or relating to the Initial Public Offering or the Company’s operations or conduct
of the Company’s business or any claim against the Sponsor and/or IPAM alleging any expressed or implied management or endorsement
by the Sponsor and/or IPAM of any of the Company’s activities or any express or implied association between the Sponsor and/or
IPAM, on the one hand, and the Company or any of its other affiliates, on the other hand, which agreement provides that the indemnified
parties cannot access the funds held in the Trust Account.

For the three and six months ended June 30, 2025,
we incurred and paid $64,167