Inflection Point Acquisition III, the third blank check company formed by Kingstown Capital targeting disruptive growth sector, filed on Monday with the SEC to raise up to $220 million in an initial public offering.
The New York, NY-based company plans to raise $220 million by offering 22 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination. At the proposed deal size, Inflection Point Acquisition III would command a market value of $300 million.
The company is led by CEO and Chairman Michael Blitzer, the founder and Co-CEO of Kingstown Capital Management. It plans to target North American and European businesses in disruptive growth sectors.
Management's previous SPACs include Inflection Point Acquisition II (IPXX; +7% from $10 offer price), which has a pending merger agreement with rare earth miner and explorer USA Rare Earth, and Inflection Point Acquisition, which merged with space exploration company Intuitive Machines (LUNR; +51%) in February 2023.
Inflection Point Acquisition III was founded in 2024 and plans to list on the Nasdaq under the symbol IPCXU. Cantor Fitzgerald is the sole bookrunner on the deal.
