Company: CSLMF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076682
Chunk: 87

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 87
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 private placement warrants and rights are indexed
to the Company’s own stock and meet the criteria to be classified in shareholders’ deficit.

Ordinary Shares Subject to Possible Redemption

Ordinary shares subject to mandatory redemption (if any) are
classified as a liability instrument and is measured at fair value. Conditionally redeemable ordinary shares (including ordinary
shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence
of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, ordinary
shares are classified as shareholders’ equity. The Company’s ordinary shares feature certain redemption rights that are
considered to be outside of the Company’s control and subject to the occurrence of uncertain future events. In connection with
the shareholders’ vote at the Special meeting of shareholders held by the Company on June 29, 2023, 14,202,813 Class A
ordinary shares were tendered for redemption for an aggregate value of $149,486,187 and distributed from the Trust Account on July
26, 2023. In connection with the shareholders’ vote at the Annual Meeting of the shareholders held by the Company on August
18, 2024, 3,399,500 Class A ordinary shares were tendered for redemption at an aggregate value of $38,596,223 and distributed from
the Trust Account on August 21, 2024. Accordingly, at June 30, 2025 and December 31, 2024, 1,372,687 shares of Class A ordinary
shares subject to possible redemption is presented, at redemption value equal to the amount held in the Trust Account, as temporary
equity, outside of the shareholders’ deficit section of the Company’s balance sheet.

The proceeds of the offering were allocated to the Class A ordinary
shares and the Public Warrants and Rights based on their relative fair values. The Company recognizes changes in redemption value of Class
A ordinary shares subject to possible redemption immediately as they occur and adjusts the carrying value of redeemable ordinary shares
to equal the redemption value at the end of each reporting period. Such changes are reflected in additional paid-in capital, or in the
absence of additional capital, in accumulated deficit. The Company has recorded remeasurements of $260,544 and $899,680 for the three
months ended June 30, 2025 and 2024, respectively, and $519,102 and $1,789,022