Inflection Point Acquisition Corp. III
Completed 2026-08-14- CIK 2012318
- IPCX
- Now WATR
- IPO 2025-04-25
- $263M trust
- 69 filings
Successfully merged with Air Water • Now trading as WATR
- IPO Size
- $253M
- raised at the IPO
- Trust
- $263M
- as of 2026-06-30
- Current Status
- Completed
- from its latest filing
- IPO Year
- 2025
- year it listed
Filings, by quarter
69 filings over 8 quarters; violet bars carry a milestone
- 24 Q4: 2 filings
- 25 Q1: 2 filings
- 25 Q2: 25 filings
- 25 Q3: 9 filings
- 25 Q4: 6 filings
- 26 Q1: 7 filings
- 26 Q2: 6 filings
- 26 Q3: 12 filings
S-1 filed
IPO
Definitive agreement
Completed
- S-1 filed 24 Q4
- IPO 25 Q2
- Definitive agreement 25 Q3
- Completed 26 Q3
SPAC Overview
Where it stands on the road from S-1 to merger
Timeline Progress
About
A SPAC with no selected target, seeking an initial business combination and initially focusing on North American and European businesses in disruptive growth sectors.
Geographic Focus
North America, Europe
Key Information
As the filings state it
- IPO Date
- 2025-04-25
- PIPE
- $96M
- SIC
- 6770
- Completion Date
- 2026-08-14
- Merger Target
- Air Water
- SPAC Ticker
- IPCX
- Merged Ticker
- WATR
Stock Performance
WATRTrading symbol, and its price at each step since the first trade
| Point | Date | Price | Move |
|---|---|---|---|
| First Trade | 2025-06-16 | $10.31 | |
| At Merger | 2026-08-17 | $2.51 | -76% |
| Current Price | 2026-10-16 | $1.91 | -81% |
SPAC Team
The banks on its IPO, and the team as the filings describe it
Underwriters
Extended Team Information
The management team has experience across public and private markets, investing, SPACs, PIPEs, complex transactions, public-company boards, space and technology ventures, real estate and financial services.