Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 588

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 588
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 effective interest rate was 23%. The 2023 Notes were secured by
substantially all of the Company’s assets.

In January 2024, the Company repaid the entire aggregate outstanding principal on the
2023 Notes Payable in the amount of $3,000.0 thousand along with an additional payment of $78.5 thousand for interest, prepayment fees, and lender fees. The Company recorded a loss of $601.1 thousand on extinguishment of debt, in the
consolidated statements of operations and comprehensive loss.

Common Stock Warrants—In connection with the 2023 Notes
Agreement, the Company issued to the lender common stock warrants (the “Common Stock Warrants”) to purchase up to 140,133 shares of the Company’s common stock, exercisable immediately, with an exercise price of $0.46 per share with a
contractual term of 10 years. The Company determined that the Common Stock Warrants are freestanding financial instruments and were determined to be within the scope of ASC 480-10, and accordingly, are
liability classified. As of December 31, 2024 and December 31, 2023, the fair value and carrying amount of the Common Stock Warrant Liability was $945.0 thousand and $430.0 thousand, respectively (refer to “Note 3 - Fair
Value Measurements”).

Revolving Line of Credit

During 2023, the Company entered into a line of credit with JPMorgan Chase Bank, N.A. for a principal amount of $150.0 thousand. The terms
of the agreement were five years with an annual interest rate of 2%. During August 2023, the line of credit including principal and interest expense of $2.0 thousand was repaid through the 2023 Notes Payable.

F-79

Loan from Bimal Tamrakar

During 2023, the Company entered into a short-term loan agreement of $300.0 thousand. The terms of the loan were 3 months with an annual
interest rate of 13.25%. During August 2023, the short-term loan was repaid through the 2023 Notes Payable.

April 2024 Convertible Note

In April 2024, the Company entered into a convertible note agreement (the “April 2024 Convertible Note Agreement”) with
a lender for the aggregate principal amount of $125.0 thousand, that bears interest at a rate of