Company: IPCX
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111009
Chunk: 82

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 82
---
 referred to collectively as the “Inflection Point Dissenting Shares” until such time as such holder fails to perfect
or otherwise waives, withdraws, or loses such holder’s dissenter rights under the Companies Act with respect to such shares) shall
no longer be outstanding and shall automatically be cancelled by virtue of the First Merger, and the holder of such Inflection Point Dissenting
Share shall thereafter cease to have any rights with respect to such Inflection Point Dissenting Share, but instead shall be entitled
to the right to be paid the fair value of such Inflection Point Dissenting Share and such other rights as are granted by Section 238 of
the Companies Act; provided, however, that if, after the First Merger Effective Time, such holder fails to perfect, waives, withdraws,
or loses such holder’s right to dissent pursuant to Section 238 of the Companies Act, or if a court of competent jurisdiction shall
determine that such holder is not entitled to the relief provided by Section 238 of the Companies Act, such ordinary shares shall cease
to be Inflection Point Dissenting Shares and shall be treated as if they had been converted as of the First Merger Effective Time into
the right to receive the consideration provided by clause (i) above without interest thereon; and

(v)each PubCo Ordinary Share that is issued and outstanding immediately prior to the First Merger
                                                                Effective Time (excluding, for the avoidance of doubt, any PubCo Ordinary Shares issued at the First Merger Effective Time in
                                                                connection with the First Merger) shall be irrevocably surrendered to PubCo for cancellation and for consideration equal to the
                                                                subscription price (if any) that was paid for such PubCo Ordinary Share.

At the effective time of the Second Merger (the
“Second Merger Effective Time”) by virtue of the Second Merger and without any action on the part of any party or the holders
of securities of Air Water or PubCo:

(i)each ordinary share of a nominal or par value of $0.01344 per share of Air Water (each an “Air Water
Ordinary Share”) that is issued and outstanding immediately prior to the Second Merger Effective Time shall be converted into the
right to receive a number of PubCo Ordinary Shares equal to the Exchange Ratio (as defined below);

(ii)each series A1 redeemable preference shares of a nominal or par value of $0.0001 per share of Air Water
(each an “Air