# EDGAR Filing Document

**Accession Number:** 0002012318
**File Stem:** 0001213900-26-047623
**Filing Date:** 2026-4
**Character Count:** 32913
**Document Hash:** 35243c7186f0638582f81f5e05daca68
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-047623.hdr.sgml**: 20260424

**ACCESSION NUMBER**: 0001213900-26-047623

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260424

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260424

**DATE AS OF CHANGE**: 20260424

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Inflection Point Acquisition Corp. III
- **CENTRAL INDEX KEY:** 0002012318
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 981773732
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42614
- **FILM NUMBER:** 26895873

**BUSINESS ADDRESS:**
- **STREET 1:** 167 MADISON AVE
- **STREET 2:** SUITE 205 #1017
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10016
- **BUSINESS PHONE:** 2124766908

**MAIL ADDRESS:**
- **STREET 1:** 167 MADISON AVE
- **STREET 2:** SUITE 205 #1017
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10016

?xml version='1.0' encoding='ASCII'?

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

Date of Report (Date of earliest event reported): **April 24, 2026**

**INFLECTION POINT ACQUISITION CORP. III**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Cayman Islands** | **001-42614** | **N/A** |
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File Number) | (IRS Employer<br> Identification No.) |

---

**167 Madison Avenue Suite 205 #1017**

**New York, New York 10016**

(Address of principal executive offices, including zip code)

Registrant's telephone number, including area code: **(212) 295-5830**

**Not Applicable**

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Title of each class | &nbsp;&nbsp;Trading Symbol(s) | &nbsp;&nbsp;Name of each exchange on which registered |
| &nbsp;&nbsp;**Units, each consisting of one Class A ordinary share, $0.0001 par value, and one right to receive one-tenth (1/10) of one Class A ordinary share** | &nbsp;&nbsp;**IPCXU** | &nbsp;&nbsp;**The Nasdaq Stock Market LLC** |
| &nbsp;&nbsp;**Class A ordinary shares, par value $0.0001 par value** | &nbsp;&nbsp;**IPCX** | &nbsp;&nbsp;**The Nasdaq Stock Market LLC** |
| &nbsp;&nbsp;**Rights, each entitling the holder to receive one tenth (1/10) of one Class A ordinary share** | &nbsp;&nbsp;**IPCXR** | &nbsp;&nbsp;**The Nasdaq Stock Market LLC** |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

On April 24, 2026, the board of directors (the "<u>Board</u>") of Inflection Point Acquisition Corp. VI (the "<u>Company</u>") appointed Jae Hyun (James) Park to the Board. Mr. Park was appointed to serve as a Class II director with a term expiring at the Company's second annual meeting of stockholders.

The Board appointed Mr. Park, who was determined to be an "independent director" as defined in the applicable rules of The Nasdaq Stock Market LLC and the applicable rules of the U.S. Securities and Exchange Commission (the "<u>Commission</u>"), to the Board's Audit Committee as a member.

Jae Hyun (James) Park, 59, is an investment professional and executive with extensive experience in cross-border capital markets, SPAC transactions, and natural resources investments. Mr. Park currently serves as Executive Chairman of Keystone Acquisition Corp., a special purpose acquisition company established in the Cayman Islands in November 2025, where he leads sponsor activities, capital formation, and strategic execution of the company's business combination objectives. He is also the Managing Member of Keystone International Acquisition Management LLC, a Delaware-based entity formed in November 2025 that manages and operates the sponsor activities of Keystone Acquisition Corp. From March 2021 to December 2025, Mr. Park served as Representative of East Asia for USA Rare Earth, where he was responsible for capital raising initiatives and business development across the region. Earlier in his career, Mr. Park was a Certified Public Accountant (CPA) licensed in the State of New York and spent approximately ten years at KPMG, where he worked in both external and internal audit functions. During this time, he developed extensive expertise in financial reporting, auditing, and internal controls across a range of industries. Mr. Park has significant experience in structuring and executing investments across private equity, SPACs, and commodities sectors, and works closely with family offices and institutional investors globally on cross-border transactions and capital formation initiatives.

On April 24, 2026, the Company entered into an indemnity agreement (the "<u>Indemnity Agreement</u>") with Mr. Park, pursuant to which the Company has agreed to provide contractual indemnification to Mr. Park, in addition to the indemnification provided in the Company's Amended and Restated Memorandum and Articles of Association, against liabilities that may arise by reason of his service on the Board, and to advance expenses incurred as a result of any proceeding against Mr. Park as to which he could be indemnified, in the form previously entered into by and between the Company and each of its other directors in connection with the Company's initial public offering.

On April 24, 2026, the Company entered into a letter agreement with Mr. Park (the "<u>Letter Agreement</u>") on substantially the same terms as the form of letter agreement previously entered into by and between the Company and each of its other directors in connection with the Company's initial public offering.

The foregoing descriptions of the Indemnity Agreement and the Letter Agreement do not purport to be complete and are qualified in their entireties by reference to the form of indemnity agreement and the Letter Agreement, copies of which are attached as Exhibit 10.1 and Exhibit 10.2 hereto, respectively, and are incorporated herein by reference.

There are no arrangements or understandings between Mr. Park and any other persons pursuant to which Mr. Park was selected as a director of the Company. There are no family relationships between Mr. Park and any of the Company's other directors or executive officers and Mr. Park does not have any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.

**Item 9.01 Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

**EXHIBIT INDEX**

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 10.1 | [Form of Indemnity Agreement (incorporated herein by reference to Exhibit 10.6 to Amendment No. 1 to the Registration Statement on Form S-1 (File No. 333-283427), filed by the Company on January 16, 2025).](https://www.sec.gov/Archives/edgar/data/2012318/000121390025003974/ea022207202ex10-6_inflect3.htm) |
| 10.2 | [Letter Agreement, dated April 24, 2026 by and between the Company and Jae Hyun Park.](ea028768701ex10-2.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  | **INFLECTION POINT ACQUISITION CORP. III** | **INFLECTION POINT ACQUISITION CORP. III** | **INFLECTION POINT ACQUISITION CORP. III** |
|  | By: | /s/ Michael Blitzer | /s/ Michael Blitzer |
|  |  | Name: | Michael Blitzer |
|  |  | Title: | Chairman and Chief Executive Officer |
| Dated: April 24, 2026 |  |  |  |

---

## Exhibit 10.2

**Exhibit 10.2**

April 24, 2026

Inflection Point Acquisition Corp. III

167 Madison Avenue Suite 205 #1017

New York, NY 10016

Re: Initial Public Offering

Ladies and Gentlemen:

This letter (this "***Letter Agreement***") is being delivered to you in accordance with the Underwriting Agreement (the "***Underwriting Agreement***") entered into by and among Inflection Point Acquisition Corp. III, a Cayman Islands exempted company (the "***Company***"), and Cantor Fitzgerald & Co., as representative (the "***Representative***") of the several underwriters (each, an "***Underwriter***" and collectively, the "***Underwriters***"), relating to an underwritten initial public offering (the "***Public Offering***"), of 25,300,000 of the Company's units (including 3,300,000 units purchased to cover over-allotments, if any) (the "***Units***"), each comprised of one of the Company's Class A ordinary shares, par value $0.0001 per share (the "***Class A Ordinary Shares***"), and one right to receive one tenth (1/10) of one Class A Ordinary Share upon the consummation of the Company's initial Business Combination (as defined below) (the "***Rights***"). The Units were sold in the Public Offering pursuant to a registration statement on Form S-1 and prospectus (the "***Prospectus***") filed by the Company with the U.S. Securities and Exchange Commission (the "***Commission***") and are listed on The Nasdaq Global Market. Certain capitalized terms used herein are defined in <u>paragraph 11</u> hereof.

For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned, a member of the Company's board of directors (the "***Director***"), hereby agrees with the Company as follows:

&nbsp;&nbsp;&nbsp;&nbsp;1. The
 Director agrees that if the Company seeks shareholder approval of a proposed Business Combination,
 then in connection with such proposed Business Combination, he shall (i) vote any Ordinary
 Shares (as defined below) owned by him in favor of any proposed Business Combination (including
 any proposals recommended by the Company's board of directors in connection with such Business
 Combination) (except with respect to any such Public Shares which may not be voted in favor
 of approving the Business Combination transaction in accordance with the requirements of
 Rule 14e-5 under the Securities Exchange Act of 1934, as amended, and any Commission interpretations
 or guidance relating thereto) and (ii) not redeem any Ordinary Shares owned by him in connection
 with such shareholder approval. If the Company seeks to consummate a proposed Business Combination
 by engaging in a tender offer, the Director agrees that he will not sell or tender to the
 Company any Ordinary Shares owned by him in connection therewith.

&nbsp;&nbsp;&nbsp;&nbsp;2. The
 Director hereby agrees that in the event that the Company fails to consummate a Business
 Combination within 24 months from the closing of the Public Offering, or such later period
 approved by the Company's shareholders in accordance with the Company's amended
 and restated memorandum and articles of association (as it may be amended from time to time,
 the "  ***Charter*** "), the Director shall take all reasonable steps to
 cause the Company to, as promptly as reasonably possible but not more than ten (10) business
 days thereafter, redeem 100% of the Class A Ordinary Shares sold as part of the Units in
 the Public Offering (the "  ***Offering Shares*** "), at a per-share price,
 payable in cash, equal to the aggregate amount then on deposit in the Trust Account (as defined
 below), including interest earned on the funds held in the Trust Account (net of amounts
 withdrawn to fund the Company's working capital requirements, subject to an annual
 limit of $250,000 (plus the rollover of unused amounts from prior years), and/or to pay for
 our taxes (any withdrawals to pay for our taxes (which shall exclude any 1% U.S. federal
 excise tax on stock repurchases under the Inflation Reduction Act of 2022 that
 is imposed on us, if any) shall not be subject to the $250,000 annual limitation described
 in the foregoing) (such withdrawals, "  ***Permitted Withdrawals***") and
 less up to $100,000 of interest to pay dissolution expenses), divided by the number of then
 outstanding Offering Shares, which redemption will constitute full and complete payment for
 the Offering Shares and completely extinguish all Public Shareholders' (as defined
 below) rights as shareholders (including the right to receive further liquidating or other
 distributions, if any), subject to the Company's obligations under Cayman Islands law
 to provide for claims of creditors and in all cases subject to the other requirements of
 applicable law. The Director agrees to not propose any amendment to the Charter (A) to modify
 the substance or timing of the Company's obligation to allow redemption in connection
 with a Business Combination or to redeem 100% of the Offering Shares if the Company does
 not complete a Business Combination within the required time period set forth in the Charter
 or (B) with respect to any other material provisions relating to shareholders' rights
 or pre-initial Business Combination activity, unless the Company provides its Public Shareholders
 with the opportunity to redeem their Offering Shares upon approval of any such amendment
 at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the
 Trust Account, including interest earned on the funds held in the Trust Account and not previously
 released to the Company as Permitted Withdrawals, divided by the number of then outstanding
 Offering Shares.

The Director acknowledges that he has no right, title, interest or claim of any kind in or to any monies held in the Trust Account with respect to the Founder Shares or Private Placement Shares held by him. The Director hereby further waives, with respect to any Ordinary Shares held by him, if any, any redemption rights he may have in connection with (a) the consummation of a Business Combination, including, without limitation, any such rights available in the context of a shareholder vote to approve such Business Combination, or (b) a shareholder vote to approve an amendment to the Charter (A) to modify the substance or timing of the Company's obligation to allow redemption in connection with a Business Combination or to redeem 100% of the Offering Shares if the Company has not consummated a Business Combination within the time period set forth in the Charter or (B) with respect to any other material provisions relating to shareholders' rights or pre-initial Business Combination activity or in the context of a tender offer made by the Company to purchase Offering Shares (although the Director and his affiliates shall be entitled to redemption and liquidation rights with respect to any Offering Shares they hold if the Company fails to consummate a Business Combination within the time period set forth in the Charter).

&nbsp;&nbsp;&nbsp;&nbsp;3. [Reserved].

&nbsp;&nbsp;&nbsp;&nbsp;4. [Reserved].

&nbsp;&nbsp;&nbsp;&nbsp;5. [Reserved].

&nbsp;&nbsp;&nbsp;&nbsp;6. The
 Director hereby agrees and acknowledges that: (i) the Underwriters and the Company would
 be irreparably injured in the event of a breach by the Director of his obligations under <u>paragraphs 1</u>, <u>2</u>, <u>7(a)</u>, <u>7(b)</u>, and <u>9</u> as applicable, of this
 Letter Agreement, (ii) monetary damages may not be an adequate remedy for such breach and
 (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any
 other remedy that such party may have in law or in equity, in the event of such breach.

&nbsp;&nbsp;&nbsp;&nbsp;7. (a)
 The Director agrees that he shall not Transfer any Founder Shares (or any Class A Ordinary
 Shares issuable upon conversion thereof) until the earlier of (A) 180 days after the completion
 of the Company's initial Business Combination or (B) the date following the completion
 if an initial Business Combination on which the Company completes a liquidation, merger,
 amalgamation, capital stock exchange, reorganization or other similar transaction that results
 in all of the Company's Public Shareholders having the right to exchange their Class
 A Ordinary Shares for cash, securities or other property (the "  ***Founder Shares Lock-up Period*** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Director agrees that he shall not Transfer any Private Placement Units (or any Private Placement Shares or Private Placement Rights underlying the Private Placement Units, including any Class A Ordinary Shares underlying the Private Placement Rights), until 30 days after the completion of a Business Combination (the "***Private Placement Units Lock-up Period***", together with the Founder Shares Lock-up Period, the "***Lock-up Periods***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding the provisions set forth in <u>paragraphs 7(a)</u> and <u>7(b)</u>, Transfers of the Founder Shares, Private Placement Units and the Private Placement Shares and Private Placement Rights underlying the Private Placement Units that are held by the Director or any of his permitted transferees (that have complied with this <u>paragraph 7(c)</u>), are permitted (a) to the Company's officers or directors, any affiliate or family member of any of the Company's officers, directors, advisors or consultants, any members or partners of the Sponsor or their affiliates, and funds and accounts advised by such members or partners, any affiliates of the Sponsor, or any employees of such affiliates; (b) in the case of an individual, by gift to a member of such individual's immediate family or to a trust, the beneficiary of which is a member of such individual's immediate family, an affiliate of such individual or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of such individual; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection with any forward purchase agreement or similar arrangement, in connection with an extension of the timeframe for the Company to consummate a Business Combination or in connection with the consummation of an initial Business Combination at prices no greater than the price at which the securities were originally purchased; (f) distributions from the Sponsor to its members, partners or stockholders pursuant to the Sponsor's limited liability company agreement; (g) by virtue of the laws of the Cayman Islands or the Sponsor's limited liability company agreement upon dissolution of the Sponsor; (h) in the event of the Company's liquidation prior to the consummation of the initial Business Combination; (i) in the event that, subsequent to the consummation of an initial Business Combination, the Company completes a liquidation, merger, share exchange or other similar transaction which results in all of the shareholders having the right to exchange their Class A Ordinary Shares for cash, securities or other property or (j) to a nominee or custodian of a person or entity to whom a transfer would be permissible under clauses (a) through (g); provided, however, that in the case of clauses (a) through (g) and clause (j), these permitted transferees must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions herein and the other restrictions contained in this Agreement (including provisions relating to voting, the Trust Account and liquidating distributions).

&nbsp;&nbsp;&nbsp;&nbsp;8. The
 Director represents and warrants that he has never been suspended or expelled from membership
 in any securities or commodities exchange or association or had a securities or commodities
 license or registration denied, suspended or revoked. The Director's biographical information
 furnished to the Company (including any such information included in the Company's
 filings with the commission) is true and accurate in all respects and does not omit any material
 information with respect to the Director's background. The Director's questionnaire
 furnished to the Company is true and accurate in all respects. The Director represents and
 warrants that: it, he or she is not subject to or a respondent in any legal action for, any
 injunction, cease-and-desist order or order or stipulation to desist or refrain from any
 act or practice relating to the offering of securities in any jurisdiction; it, he or she
 has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating
 to any financial transaction or handling of funds of another person, or (iii) pertaining
 to any dealings in any securities and it, he or she is not currently a defendant in any such
 criminal proceeding

&nbsp;&nbsp;&nbsp;&nbsp;9. Except
 as disclosed in the Prospectus, neither the Sponsor nor any officer, nor any affiliate of
 the Sponsor or any officer, nor any director of the Company, including the Director, shall
 receive from the Company any finder's fee, reimbursement, consulting fee, non-cash
 payments, monies in respect of any repayment of a loan or other compensation prior to, or
 in connection with any services rendered in order to effectuate, the consummation of the
 Company's initial Business Combination (regardless of the type of transaction that
 it is), other than the following, which, if made prior to the consummation of the Company's
 initial Business Combination, will be made only from funds held outside the Trust Account
 or from funds released to the Company as Permitted Withdrawals: repayment of a loan and advances
 up to an aggregate of $300,000 made to the Company by Inflection Point Fund I, LP, an affiliate
 of the Sponsor; Permitted Withdrawals of up to $250,000 from interest earned on the Trust
 Account for working capital purposes per year (plus the rollover of unused amounts from prior
 years); payment of an aggregate of $29,166.66 per month to Inflection Point Asset Management
 LLC, an affiliate of the Sponsor and the Company's officers, for the services of Kevin
 Shannon, Chief Operating Officer and for office space and administrative services provided
 to members of the Company's management team; payment of consulting, success, or finder
 fees to our Sponsor, officers, directors, advisors, or their respective affiliates in connection
 with the consummation of our initial business combination; payment of customary fees to members
 of the board of directors of the Company for director services; reimbursement for any reasonable
 out-of-pocket expenses related to identifying, investigating, negotiating and completing
 an initial Business Combination, and repayment of loans, if any, and on such terms as to
 be determined by the Company from time to time, made by the Sponsor or an affiliate of the
 Sponsor or any of the Company's officers or directors to finance transaction costs
 in connection with an intended initial Business Combination, provided, that, if the Company
 does not consummate an initial Business Combination, amounts held outside the Trust Account
 may be used by the Company to repay such loaned amounts so long as no proceeds from the Trust
 Account are used for such repayment. Up to $1,500,000 of such loans may be convertible into
 Private Placement Units at a price of $10.00 per unit at the option of the lender. Such units
 would be identical to the Private Placement Units. In addition, the Company may engage the
 Sponsor or an affiliates of the Sponsor as an advisor or otherwise in connection with its
 initial Business Combination and certain other transactions and pay such person or entity
 a salary or fee in an amount that constitutes a market standard for comparable transactions.

&nbsp;&nbsp;&nbsp;&nbsp;10. The
 Director has full right and power, without violating any agreement to which he is bound (including,
 without limitation, any non-competition or non-solicitation agreement with any employer or
 former employer), to enter into this Letter Agreement and, as applicable, to serve as a director
 on the board of directors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;11. As
 used herein, (i) "  ***Business Combination***" shall mean a merger, capital
 stock exchange, asset acquisition, stock purchase, reorganization or similar business combination,
 involving the Company and one or more businesses; (ii) "  ***Ordinary Shares*** "
 shall mean the Class A Ordinary Shares and Class B ordinary shares, par value $0.0001 per
 share (the "  ***Class B Ordinary Shares*** "); (iii) "  ***Founder Shares***" shall mean the 8,433,333 Class B Ordinary Shares issued and outstanding
 and any Class A Ordinary Shares issued upon conversion of such Class B Ordinary Shares; (iv)
 "  ***Initial Shareholders***" shall mean the Sponsor and any director
 or officer that holds Founder Shares; (v) "  ***Private Placement Units*** "
 shall mean the 677,500 units that the Representative and Sponsor purchased for an aggregate
 purchase price of $677,500, or $10.00 per unit, in a private placement that occurred simultaneously
 with the consummation of the Public Offering plus up to 150,000 Private Placement Units that
 may be used upon conversion of working capital loans; (vi) "  ***Private Placement Shares***" shall mean the Class A Ordinary Shares comprising part of the Private
 Placement Units issued to the Sponsor and the Representative in a private placement simultaneously
 with the closing of the Public Offering or upon conversion of working capital loans; (vii)
 "  ***Private Placement Rights***" shall mean the rights sold as part of
 the Private Placement Units; (viii) "  ***Public Shareholders***" shall
 mean the holders of securities issued in the Public Offering; (ix) "  ***Trust Account*** "
 shall mean the trust fund into which a portion of the net proceeds of the Public Offering
 and the sale of the Private Placement Units were deposited; (x) "  ***Sponsor*** "
 shall mean Inflection Point Holdings VI LLC; and (xi) "  ***Transfer*** "
 shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge,
 grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly
 or indirectly, or establishment or increase of a put equivalent position or liquidation with
 respect to or decrease of a call equivalent position within the meaning of Section 16 of
 the Exchange Act, and the rules and regulations of the Commission promulgated thereunder
 with respect to, any security, (b) entry into any swap or other arrangement that transfers
 to another, in whole or in part, any of the economic consequences of ownership of any security,
 whether any such transaction is to be settled by delivery of such securities, in cash or
 otherwise, or (c) public announcement of any intention to effect any transaction specified
 in clause (a) or (b).

&nbsp;&nbsp;&nbsp;&nbsp;12. The
 Company will maintain an insurance policy or policies providing directors' and officers'
 liability insurance, and each director shall be covered by such policy or policies, in accordance
 with its or their terms.

&nbsp;&nbsp;&nbsp;&nbsp;13. This
 Letter Agreement constitutes the entire agreement and understanding of the parties hereto
 in respect of the subject matter hereof and supersedes all prior understandings, agreements,
 or representations by or among the parties hereto, written or oral, to the extent they relate
 in any way to the subject matter hereof or the transactions contemplated hereby. This Letter
 Agreement may not be changed, amended, modified or waived (other than to correct a typographical
 error) as to any particular provision, except by a written instrument executed by all parties
 hereto.

&nbsp;&nbsp;&nbsp;&nbsp;14. No
 party hereto may assign either this Letter Agreement or any of its rights, interests, or
 obligations hereunder without the prior written consent of the other parties. Any purported
 assignment in violation of this paragraph shall be void and ineffectual and shall not operate
 to transfer or assign any interest or title to the purported assignee. This Letter Agreement
 shall be binding on the Director and his successors, heirs and assigns and permitted transferees.

&nbsp;&nbsp;&nbsp;&nbsp;15. Nothing
 in this Letter Agreement shall be construed to confer upon, or give to, any person or corporation
 other than the parties hereto any right, remedy or claim under or by reason of this Letter
 Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All covenants,
 conditions, stipulations, promises and agreements contained in this Letter Agreement shall
 be for the sole and exclusive benefit of the parties hereto and their successors, heirs,
 personal representatives and assigns and permitted transferees.

&nbsp;&nbsp;&nbsp;&nbsp;16. This
 Letter Agreement may be executed in any number of original or facsimile counterparts and
 each of such counterparts shall for all purposes be deemed to be an original, and all such
 counterparts shall together constitute but one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;17. This
 Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any
 term or provision hereof shall not affect the validity or enforceability of this Letter Agreement
 or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable
 term or provision, the parties hereto intend that there shall be added as a part of this
 Letter Agreement a provision as similar in terms to such invalid or unenforceable provision
 as may be possible and be valid and enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;18. This
 Letter Agreement shall be governed by and construed and enforced in accordance with the laws
 of the State of New York. The parties hereto (i) all agree that any action, proceeding, claim
 or dispute arising out of, or relating in any way to, this Letter Agreement shall be brought
 and enforced in the courts of New York City, in the State of New York, and irrevocably submit
 to such jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii)
 waive any objection to such exclusive jurisdiction and venue or that such courts represent
 an inconvenient forum.

&nbsp;&nbsp;&nbsp;&nbsp;19. Any
 notice, consent or request to be given in connection with any of the terms or provisions
 of this Letter Agreement shall be in writing and shall be sent by express mail or similar
 private courier service, by certified mail (return receipt requested), by hand delivery or
 facsimile transmission.

&nbsp;&nbsp;&nbsp;&nbsp;20. This
 Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods
 or (ii) the liquidation of the Company.

[*Signature Page Follows*]

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| |
|:---|
| Sincerely, |
| /s/ Jae Hyun Park |
| Name: Jae Hyun Park |

---

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| | | |
|:---|:---|:---|
| Acknowledged and Agreed: | Acknowledged and Agreed: | Acknowledged and Agreed: |
| **INLFECTION POINT ACQUISITION CORP. III** | **INLFECTION POINT ACQUISITION CORP. III** | **INLFECTION POINT ACQUISITION CORP. III** |
| By: | /s/ Michael Blitzer | /s/ Michael Blitzer |
|  | Name: | Michael Blitzer |
|  | Title: | Chairman and Chief Executive Officer |

---

[Signature Page to Letter Agreement]