Inflection Point Acquisition Corp. II Announces Business Combination Agreement Amendment

Summary

Inflection Point Acquisition Corp. II, USA Rare Earth, LLC, and IPXX Merger Sub, LLC announced an amendment to their Business Combination Agreement, previously disclosed on August 21, 2024. The amendment, dated January 22, 2025, modifies the terms of the securities purchase agreement between USA Rare Earth and Michael Blitzer, affecting the issuance of Series A Preferred Stock in exchange for the forgiveness of a portion of a convertible promissory note. The transaction involves unregistered sales of equity securities, as detailed in Item 3.02 of the filing.