Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 239

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 239
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 of the cash released to us from the trust account
for general corporate purposes, including for maintenance or expansion of operations
of the post-transaction company, the payment of principal or interest due on indebtedness incurred in completing
our initial business combination, to fund the purchase of other companies or for working
capital.

We have not selected any specific business combination target, and we have not, nor
has anyone on our behalf, engaged in any substantive discussions, directly or indirectly,
with any business combination target with respect to an initial business combination
with us.

We may seek to raise additional funds through a private offering of debt or equity
securities in connection with the completion of our initial business combination,
and we may effectuate our initial business combination using the proceeds of such
offering rather than using the amounts held in the trust account.

In the case of an initial business combination funded with assets other than the trust
account assets, our tender offer documents or proxy materials disclosing the business
combination would disclose the terms of the financing and, only if required by law
or we decide to do so for business or other reasons, we would seek shareholder approval
of such financing. There are no prohibitions on our ability to raise funds privately
or through loans in connection with our initial business combination. At this time,
we are not a party to any arrangement or understanding with any third party with respect
to raising any additional funds through the sale of securities or otherwise.

Lack of business diversification

For an indefinite period of time after consummation of our initial business combination,
the prospects for our success may depend entirely on the future performance of a single
business. Unlike other entities that have the resources to complete business combinations
with multiple entities in one or several industries, it is probable that we will not
have the resources to diversify our operations and mitigate the risks of being in
a single line of business. By consummating our initial business combination with only
a single entity, our lack of diversification may:

| ● | subject us to negative economic, competitive and regulatory                                                                              
 developments, any or all of which may have a substantial adverse impact on the particular industry in which we operate after our initial 
 business combination, and                                                                                                                |

| ● | cause us to depend on the marketing and sale of a single product 
 or limited number of products or services.                       |

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Limited ability to evaluate the target’s management team

Although we intend to closely scrutinize the management of a