Company: KOYNU
Filing Date: 2025-07-31
Form Type: S-1/A
Source: 0001829126-25-005627
Chunk: 408

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-31
Form: S-1/A
Chunk 408
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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-16</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 Capital Loans”).
If we complete an initial Business Combination, the Company would repay such loaned amounts. In the event that the initial Business Combination
does not close, the Company may use amounts held outside the Trust Account to repay such loaned amounts but no proceeds from the Trust
Account would be used for such repayment. Up to $1,500,000 of such loans may be convertible into units of the post business combination
entity at a price of $10.00 per unit at the option of the lender. Such units would be identical to the Private Units. Except as set forth
above, the terms of such loans, if any, have not been determined and no written agreements exist with respect to such loans. As of March 31,
2025 and December 31, 2024, no such Working Capital Loans were outstanding.

Note 7 — Commitments and Contingencies

Risks and Uncertainties

The United States and global markets are experiencing
volatility and disruption following the geopolitical instability resulting from the ongoing Russia-Ukraine conflict and the recent escalation
of the Israel-Hamas conflict. In response