Inflection Point Acquisition Corp. III (IPCX) insiders convert 8.43M Class B shares in merger
Rhea-AI Filing Summary
Inflection Point Holdings III LLC, managed by Inflection Point Asset Management LLC and associated with Michael Blitzer, reported the conversion of SPAC founder securities in connection with the Closing of the Business Combination between Inflection Point Acquisition Corp. III and Air Water Ventures Holdings Limited. On 2026-08-12, 8,433,333 Class B ordinary shares automatically converted into 8,433,333 Class A ordinary shares, and 500,000 rights, each for one-tenth of a share, converted into 50,000 Class A ordinary shares. The derivative positions (Class B shares and rights) were reduced to zero as they became Class A ordinary shares, with Inflection Point Asset Management LLC and Michael Blitzer disclaiming beneficial ownership beyond any pecuniary interest in the securities held of record by Inflection Point Holdings III LLC.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 8,483,333 shares
Net Buy
4 txns
Insider
Inflection Point Holdings III LLC, Inflection Point Asset Management LLC, BLITZER MICHAEL
Role
Director, 10% Owner | Director, 10% Owner | See Remarks
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Class B Ordinary Shares, par value $0.0001 per share F1, F2 | 8,433,333 | -- | -- |
| Exercise | Rights to receive Class A ordinary shares F3, F2 | 500,000 | -- | -- |
| Grant/Award | Class A Ordinary Shares, par value $0.0001 per share F1, F2 | 8,433,333 | -- | -- |
| Grant/Award | Class A Ordinary Shares, par value $0.0001 per share F3, F2 | 50,000 | -- | -- |
Holdings After Transaction:
Class B Ordinary Shares, par value $0.0001 per share — 0 shares (Direct);
Rights to receive Class A ordinary shares — 0 shares (Direct);
Class A Ordinary Shares, par value $0.0001 per share — 8,983,333 shares (Direct)
Footnotes (3)
- F1. In connection with the closing (the "Closing") of the business combination (the "Business Combination") between the Issuer and Air Water Ventures Holdings Limited, each of the Issuer's Class B ordinary shares converted into one Class A ordinary share as described under the heading "Description of Securities" in the Issuer's Registration Statement on Form S-1 (File No. 333-283427) (as amended).
- F2. Inflection Point Holdings III LLC is the record holder of the securities reported herein. Inflection Point Asset Management LLC is the manager of Inflection Point Holdings III LLC and shares voting and investment discretion with respect to the securities held of record by Inflection Point Holdings III LLC. Michael Blitzer controls Inflection Point Asset Management LLC and shares voting and investment discretion with respect to the securities held of record by Inflection Point Holdings III LLC. Inflection Point Asset Management LLC and Michael Blitzer disclaim any beneficial ownership of the securities held by Inflection Point Holdings III LLC other than to the extent of any pecuniary interest it or he may have therein, directly or indirectly.
- F3. In connection with the Closing of the Business Combination, the 500,000 rights held by Inflection Point Holdings III LLC, each entitling the holder to receive one-tenth (1/10) of on Class A ordinary share as part of the Closing, converted into 50,000 Class A ordinary shares as described under the heading "Description of Securities" in the Issuer's Registration Statement on Form S-1 (File No. 333-283427) (as amended).
Key Figures
Class B shares converted: 8,433,333 shares
Rights converted: 500,000 rights
Class A from rights: 50,000 shares
+1 more
4 metrics
Class B shares converted
8,433,333 shares
Each Class B ordinary share converted into one Class A ordinary share at Closing of the Business Combination
Rights converted
500,000 rights
Each right to receive one-tenth of a Class A share converted at Closing of the Business Combination
Class A from rights
50,000 shares
500,000 rights converted into 50,000 Class A ordinary shares in connection with the Closing
Derivative exercise shares
8,933,333 shares
Total derivative shares exercised or converted (Class B plus rights) per transaction summary
Key Terms
Business Combination, Class B ordinary shares, rights to receive Class A ordinary shares, pecuniary interest
4 terms
Business Combination financial
"In connection with the closing (the "Closing") of the business combination"
A business combination happens when two or more companies join together to operate as one, like two friends merging their teams into a single group. This is important because it can change how companies grow, compete, and make money, often making them bigger and more powerful in the market.
pecuniary interest financial
"other than to the extent of any pecuniary interest it or he may have"
FAQ
What insider equity changes were reported for IPCX on this Form 4?
The reporting entities converted 8,433,333 Class B shares into Class A shares and 500,000 rights into 50,000 Class A shares at the Business Combination closing, eliminating the underlying derivative positions.
Who is the record holder of the IPCX securities reported on this Form 4?
Inflection Point Holdings III LLC is the record holder of the reported securities. Inflection Point Asset Management LLC manages it and shares voting and investment discretion over those holdings as described in the footnotes.
What beneficial ownership disclaimers are included in the IPCX Form 4?
Inflection Point Asset Management LLC and Michael Blitzer disclaim beneficial ownership of securities held by Inflection Point Holdings III LLC, except to the extent of any direct or indirect pecuniary interest they may have.
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