Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 82

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 82
---
 Effective Time will be converted into an option to
acquire, subject to substantially the same terms and conditions as were applicable under such Fusemachines Option (including expiration date, vesting conditions, and exercise provisions), the number of shares of Pubco Common Stock (rounded down to
the nearest whole share), determined by multiplying the number of shares of Fusemachines Common Stock subject to such Fusemachines Option as of immediately prior to the Effective Time by the Conversion Ratio (as defined below), at an exercise price
per Pubco Common Stock (rounded up to the nearest whole cent) equal to (A) the exercise price per share of Fusemachines Common Stock of such Fusemachines Option divided by (B) the Conversion Ratio (a “Converted Stock Option”). At the Effective Time, Pubco will assume all obligations of Fusemachines with respect to each Converted Stock Option.

Pursuant to the Merger Agreement, effective immediately prior to the Effective Time, each of Fusemachines’ issued and
outstanding convertible promissory notes (the “Fusemachines Convertible Notes”) shall be (i) treated in accordance with the terms of the relevant agreement governing such Fusemachines Convertible Notes, and (ii) converted
into Fusemachines Preferred Stock or Fusemachines Common Stock, as applicable.

The “Conversion Ratio” is the quotient
obtained by dividing (i) the number of Pubco Common Stock constituting the Aggregate Merger Consideration, by (ii) the “Aggregate Fully Diluted Fusemachines Common Stock”, which means: the sum, without duplication, of
(a) all shares of Fusemachines Common Stock that are issued and outstanding immediately prior to the Effective Time; plus (b) the aggregate number of shares of Fusemachines Common Stock issuable upon conversion of all shares of
Fusemachines Preferred Stock that are issued and outstanding immediately prior to the Effective Time; plus (c) the aggregate number of shares of Fusemachines Common Stock issuable upon full exercise of all Fusemachines Options (whether vested
or unvested); plus (d) the aggregate number of shares of Fusemachines Common Stock issuable upon full conversion of all Company Convertible Notes that are outstanding immediately prior to the Effective Time; plus (e) the aggregate number
of shares of Fusemachines Common Stock issuable upon full conversion, exercise or exchange of any other securities of the Fusemachines outstanding immediately prior to the Effective Time directly or indirectly convertible into or exchangeable or