Company: KOYNU
Filing Date: 2025-08-12
Form Type: S-1/A
Source: 0001829126-25-006117
Chunk: 438

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-08-12
Form: S-1/A
Chunk 438
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agreed not to transfer, assign or sell any of their founder shares and any Class A ordinary shares issued upon conversion thereof until
the earlier of (i) six months after the completion of a Business Combination and (ii) subsequent to a Business Combination, the date
on which the Company consummates a subsequent liquidation, merger, share exchange or other similar transaction which results in all of
the Company’s shareholders having the right to exchange their Class A Ordinary Shares for cash, securities or other property. Any
permitted transferees will be subject to the same restrictions and other agreements of the Company’s initial shareholders with
respect to any founder shares (the “Lock-up”). Notwithstanding the foregoing, if the Company consummates a transaction after
the initial Business Combination which results in the Company’s shareholders having the right to exchange their shares for cash,
securities or other property, the founder shares will be released from the Lock-up.

Promissory Note — Related Party

The Sponsor has agreed to loan the Company an
aggregate of up to $300,000 to be used for a portion of the expenses of the Proposed Public Offering (the “Promissory Note”).
The Promissory Note is non-interest bearing, unsecured and due at the earlier of (i) the closing of the Proposed Public Offering or (ii)
the date which the Company determines not to proceed with the Proposed Public Offering. The Promissory Note will be repaid out of the
$2,973,324 of offering proceeds that has been allocated to the payment of offering expenses. As of March 31, 2025 and December 31,
2024, the Company had borrowed $11,394 under the Promissory Note.

<div align='center'>F-34</div>

Administrative Services Agreement

Commencing on the effective date of the Registration
Statement of which this prospectus forms a part, the Company will enter into an agreement with our Sponsor to pay an aggregate of $30,000
per month for company administration, office space, utilities, and secretarial and administrative support. Upon completion of the initial
Business Combination or the liquidation, the Company will cease paying the $30,000 per month fee.

Related Party Loans

In order to finance transaction costs in connection
with an intended initial Business Combination, the Sponsor or an affiliate of the Sponsor or certain of our officers and directors may,
but are not obligated to, loan the Company funds as may be required on a non-interest basis (the “Working