Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 291

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 291
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 the warrant shares issuable upon
exercise of the warrants and a current prospectus relating to such warrant shares. Notwithstanding the foregoing, if a registration statement
covering the issuance of the warrant shares issuable upon exercise of the public warrants is not effective within 60 days from the closing
of our initial business combination, warrant holders may, commencing on the 61 day until such time as there is an effective
registration statement and during any period when we shall have failed to maintain an effective registration statement, exercise warrants
on a cashless basis pursuant to an available exemption from registration under the Securities Act. If an exemption from registration
is not available, holders will not be able to exercise their warrants on a cashless basis. In the event of a cashless exercise, each
holder would pay the exercise price by surrendering the warrants for that number of warrant shares equal to the quotient obtained by
dividing (x) the product of the number of warrant shares underlying the warrants, multiplied by the difference between the exercise price
of the warrants and the “fair market value” by (y) the fair market value. The “fair market value” for this purpose
will mean the average reported last sale price of the public shares for the ten trading days ending on the trading day prior to the date
of exercise.

Once the warrants become exercisable, we may redeem the outstanding warrants:

| ● | at a price of $0.01 per warrant; |

| ● | upon a minimum of 30 days’ prior written notice of redemption, which we refer to as the 30-day redemption period; 
 and                                                                                                               |

| ● | if, and only if, the last reported sale price of our Class A ordinary shares equals or exceeds $18.00 per share (as adjusted for stock splits, 
 stock dividends, reorganizations, recapitalizations and the like) for any 20 trading                                                           
 days within a 30-trading day period ending on the third trading day prior to the date                                                          
 on which we send the notice of redemption to the warrant holders.                                                                              |

We will not redeem the warrants unless a registration statement under the Securities
Act covering the issuance of the warrant shares underlying the warrants to be so redeemed
is then effective and a current prospectus relating to those warrant shares is available
throughout the 30-day redemption period, except if the warrants may be exercised on
a cashless basis and such cashless exercise is exempt from registration under the
Securities Act. If and when the warrants