Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 125

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 125
---
 be read in conjunction with the financial statements and notes to the financial statements included herein.

Unless the context requires otherwise, references to “Fusemachines”, “we”, “us”, “our” and “the company” in this section are to the business and operations of Fusemachines prior to the Business Combination and the business and operations of Pubco as directly or indirectly affected by Fusemachines by virtue of Pubco’s ownership of the business of Fusemachines following the Business Combination.

Risks Related to Fusemachines’ Business, Industry, and Operations

The market for Fusemachines’ enterprise AI services and products is relatively new, and may decline or experience limited growth, and Fusemachines’ business is dependent on its clients’ continuing adoption and use of its services and products.

The
use of enterprise AI is still relatively new, and customers may not recognize the need for or benefits of our services and products. If customers do not recognize the need for and benefits of our services and products, then they may decide to adopt
alternative services to satisfy their business needs. In order to grow our business and extend our market position, Fusemachines intends to focus on educating potential customers about the benefits of our services and products, expanding the range
of Fusemachines’ services and bringing new technologies to market to increase market acceptance and use of our platform. Fusemachines’ ability to expand the market that our services and products address depends upon a number of factors,
including the cost, performance and perceived value associated with our services and products. The market for our services and products could fail to grow significantly or there could be a reduction in demand for our services and/or products as a
result of a lack of acceptance, technological challenges, competing services, a decrease in spending by current and prospective customers, weakening economic conditions and other causes. If the market for enterprise AI does not experience continued
significant growth, or demand for its services and/or products decreases, then our business, financial condition and results of operations could be adversely affected.

Fusemachines has experienced moderate growth in the past several years, and if Fusemachines fails to effectively manage its growth, then its business, results of operations and financial condition could be adversely affected.

Fusemachines has experienced moderate
growth in its business since its founding in 2012. This growth has placed, and may continue to place, significant demands on its corporate culture, operational infrastructure and management. Any failure to manage Fusemachines’ anticipated
growth and organizational changes in a manner that preserves the key