MMCAP International Inc. SPC Makes New $14.10 Million Investment in Inflection Point Acquisition Corp. III $IPCX

MMCAP International Inc. SPC purchased a new stake in Inflection Point Acquisition Corp. III (NASDAQ:IPCX) during the third quarter, according to its most recent filing with the SEC. The firm purchased 1,400,000 shares of the company’s stock, valued at approximately $14,098,000. Inflection Point Acquisition Corp. III accounts for 1.6% of MMCAP International Inc. SPC’s portfolio, making the stock its 17th biggest holding. MMCAP International Inc. SPC owned about 4.06% of Inflection Point Acquisition Corp. III at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in IPCX. JPMorgan Chase & Co. purchased a new stake in shares of Inflection Point Acquisition Corp. III during the 3rd quarter worth $16,747,000. Wealthspring Capital LLC bought a new position in Inflection Point Acquisition Corp. III in the third quarter worth about $5,357,000. Hudson Bay Capital Management LP purchased a new stake in shares of Inflection Point Acquisition Corp. III during the second quarter valued at about $4,848,000. Finally, Wolverine Asset Management LLC lifted its position in shares of Inflection Point Acquisition Corp. III by 63.8% during the third quarter. Wolverine Asset Management LLC now owns 164,698 shares of the company’s stock valued at $1,659,000 after buying an additional 64,126 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Inflection Point Acquisition Corp. III in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Inflection Point Acquisition Corp. III presently has a consensus rating of “Sell”.

Inflection Point Acquisition Corp. III Price Performance

Inflection Point Acquisition Corp. III stock opened at $10.16 on Monday. The company has a 50-day simple moving average of $10.15. Inflection Point Acquisition Corp. III has a one year low of $10.05 and a one year high of $10.35.

About Inflection Point Acquisition Corp. III

Inflection Point Acquisition Corp. III (NASDAQ: IPCX) is a special purpose acquisition company (SPAC), commonly referred to as a blank?check company, that is organized to raise capital through a public offering for the purpose of effecting a merger, acquisition, capital stock exchange, asset purchase, reorganization or similar business combination. As a SPAC, it does not operate a conventional operating business; instead, its principal objective is to identify and combine with one or more operating businesses that will become publicly listed through the transaction.

Like many SPACs, Inflection Point Acquisition Corp.