Company: KOYNU
Filing Date: 2025-07-31
Form Type: S-1/A
Source: 0001829126-25-005627
Chunk: 192

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-31
Form: S-1/A
Chunk 192
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 public shareholder (but not our initial shareholders or the underwriter)
the right to have his, her or its Class A ordinary shares redeemed for cash (subject to the limitations described elsewhere in this prospectus)
regardless of whether such shareholder votes for or against such proposed business combination or votes at all. This is different than
other similarly structured blank check companies where shareholders are offered the right to redeem their shares only when they vote
against a proposed business combination. This threshold and the ability to seek redemption while voting in favor of a proposed business
combination may make it more likely that we will consummate our initial business combination.

<div align='center'>109</div>

Because of our structure, other companies may have a competitive advantage and we may not be able to consummate an attractive business combination.

We expect to encounter intense
competition from entities other than blank check companies having a business objective similar to ours, including private equity groups,
venture capital funds, leveraged buyout funds and operating businesses competing for acquisitions. Many of these entities are well established
and have extensive experience in identifying and effecting business combinations directly or through affiliates. Many of these competitors
possess greater technical, human and other resources than we do and our financial resources will be relatively limited when contrasted
with those of many of these competitors. Therefore, our ability to compete in acquiring certain sizable target businesses may be limited
by our available financial resources. This inherent competitive limitation gives others an advantage in pursuing the acquisition of certain
target businesses. Furthermore, seeking shareholder approval of our initial business combination may delay the consummation of a transaction.
Any of the foregoing may place us at a competitive disadvantage in successfully negotiating our initial business combination.

In addition, we do not intend
to hold an annual meeting of shareholders to elect new directors prior to the completion of our business combination. Unless we hold
an annual meeting, all of the current directors will continue in office until at least the completion of the business combination. If
there is an annual meeting, the entire Board of Directors will be considered for election, however our initial shareholders, because
of their ownership position, will have considerable influence regarding the outcome. Accordingly, our initial shareholders will continue
to exert control at least until the completion of our business combination.

Cyber incidents or attacks directed at us could result in information theft, data corruption, operational disruption and/or financial loss.

We depend on digital technologies,
including information systems, infrastructure and cloud applications and services, including those of third parties with which we may
deal. Soph