Company: CSLMF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076682
Chunk: 91

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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 occurred substantially concurrently with the closing of the Initial
Public Offering. Each Private Placement Warrant is exercisable to purchase one share of ordinary shares at an exercise price of $11.50
per share, subject to adjustment (see Note 6). A portion of the proceeds from the Private Placement Warrants will be added to the proceeds
from the Initial Public Offering to be held in the Trust Account. If the Company does not complete a Business Combination within the Combination
Period, the proceeds from the sale of the Private Placement Warrants held in the Trust Account will be used to fund the redemption of
the Public Shares (subject to the requirements of applicable law), and the Private Placement Warrants will expire worthless.

13

NOTE 5 — RELATED PARTY TRANSACTIONS

Founder Shares

In July 2021, the Sponsor purchased 4,743,750 shares of the Company’s
Class B ordinary shares (the “Founder Shares”) for an aggregate purchase price of $25,000. The Founder Shares included an
aggregate of up to 618,750 shares subject to forfeiture by the Sponsor to the extent that the underwriter’s overallotment was not
exercised in full or in part, so that the number of Founder Shares collectively represented approximately 20% of the Company’s issued
and outstanding shares after the Initial Public Offering. In August 2021, the Sponsor transferred 50,000 founder shares to each of the
Company’s independent director nominees. The Company will account for the transfer of founder shares under ASC 718-10-15-4 and record
a compensation expense upon completion of a Business Combination.

The Sponsor has agreed, subject to certain limited exceptions,
not to transfer, assign or sell any of the Founder Shares until the earlier of (A) one year after the completion of a Business
Combination or (B) subsequent to a Business Combination, (x) if the last reported sale price of the Class A ordinary shares equals
or exceeds $12.00 per share (as adjusted for share capitalization, share subdivisions, reorganizations, recapitalizations and the
like) for any 20 trading days within any 30-trading day period commencing at least 150 days after a Business Combination, or (y) the
date on which the Company completes a liquidation, merger, stock exchange, reorganization or other similar transaction that results
in all of the Company’s shareholders having the right to exchange their Class A ordinary shares for cash, securities or other
property.

Administr