MMCAP and MM Asset Management report 5.1% stake in Inflection Point (IPFXU)

Rhea-AI Filing Summary

Inflection Point Acquisition Corp. disclosure: two related filers report shared beneficial ownership of 1,500,000 Class A ordinary shares, representing 5.1% of the class (CUSIP G4790S107). The filing lists shared voting and dispositive power of 1,500,000 shares held by MMCAP International Inc. SPC and MM Asset Management Inc., with addresses in the Cayman Islands and Ontario.

Insights

Institutional Ownership Analyst

Institutional holders report a passive 5.1% stake via shared power.

The Schedule 13G lists 1,500,000 Class A shares and shows shared voting and dispositive power between MMCAP International Inc. SPC and MM Asset Management Inc. The filing follows the joint-filing format with signatures from authorized signatories.

Ownership at 5.1% is below common activist thresholds; subsequent filings would show whether this position changes or becomes active.

Compliance & Regulatory Counsel

Filing appears procedural and consistent with Section 13 reporting.

The statement includes registered CUSIP (G4790S107), filer identities, addresses, and a joint filing agreement (Exhibit 99.1). It records shared powers rather than sole control, which affects voting attribution.

Filing signatures are dated 04/01/2026; any future change in voting/dispositive power would require amendment filings as required by law.

Key Figures

Beneficial ownership: 1,500,000 shares Percent of class: 5.1% CUSIP: G4790S107

3 metrics

Beneficial ownership 1,500,000 shares Class A Ordinary Shares

Percent of class 5.1% Percent of Class A outstanding

CUSIP G4790S107 Identifier for Class A Ordinary Shares

Key Terms

Schedule 13G, beneficially owned, shared voting power, joint filing agreement

4 terms

Schedule 13G regulatory

"Item 1. (a) Name of issuer: Inflection Point Acquisition Corp."

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

beneficially owned financial

"Item 4. (a) Amount beneficially owned: 1,500,000"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared voting power regulatory

"Shared Voting Power 1,500,000.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

joint filing agreement legal

"Exhibit 99.1 Joint Filing Agreement"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Inflection Point Acquisition Corp. VI

(Name of Issuer)

Class A Ordinary Shares

(Title of Class of Securities)

G4790S107

(CUSIP Number)

03/27/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G4790S107

1

Names of Reporting Persons

MMCAP International Inc. SPC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,500,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,500,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,500,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP Number(s): G4790S107

1

Names of Reporting Persons

MM Asset Management Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,500,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,500,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,500,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Inflection Point Acquisition Corp. VI
(b)	Address of issuer's principal executive offices: 167 Madison Avenue, Suite 205, New York, NY 10016
Item 2.
(a)	Name of person filing: i) MMCAP International Inc. SPC ii) MM Asset Management Inc.
(b)	Address or principal business office or, if none, residence: i) c/o Mourant Governance Services (Cayman) Limited, 94 Solaris Avenue, Camana Bay, P. O. Box 1348, Grand Cayman KY1-1108, Cayman Islands ii) 161 Bay Street, TD Canada Trust Tower, Suite 2240, Toronto, Ontario M5J 2S1 Canada
(c)	Citizenship: i) Cayman Islands ii) Ontario, Canada
(d)	Title of class of securities: Class A Ordinary Shares
(e)	CUSIP Number(s): G4790S107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1,500,000
(b)	Percent of class: 5.1%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 1,500,000
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 1,500,000
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

MMCAP International Inc. SPC

Signature:	Ulla Vestergaard
Name/Title:	Director
Date:	04/01/2026

MM Asset Management Inc.

Signature:	Hillel Meltz
Name/Title:	President
Date:	04/01/2026

Exhibit Information

Exhibit 99.1 Joint Filing Agreement

FAQ

What stake does MMCAP/ MM Asset Management hold in IPFXU?

They report beneficial ownership of 1,500,000 shares, equal to 5.1% of Class A ordinary shares (CUSIP G4790S107). The filing states shared voting and dispositive power over those shares.

Who are the filing entities in the Schedule 13G for IPFXU?

The joint filers are MMCAP International Inc. SPC (Cayman Islands) and MM Asset Management Inc. (Ontario, Canada), each listed with principal addresses and signatures dated 04/01/2026.

Does the Schedule 13G show sole control of the shares?

No. The filing reports 0 shares with sole voting or dispositive power and 1,500,000 shares with shared voting and dispositive power, indicating joint control rather than sole authority.

Is this filing an active intent to influence Inflection Point Acquisition Corp.?

The Schedule 13G lists a passive beneficial ownership stake of 5.1%. It does not state any activist intent; Schedule 13G filings typically indicate passive investment unless amended to show active intentions.

Which document confirms the joint arrangement between the filers?

The filing references a Joint Filing Agreement as Exhibit 99.1, which formalizes the joint reporting arrangement between the two entities and is signed by authorized representatives.