Company: CSLMF
Filing Date: 2025-10-03
Form Type: DEF 14A
Source: 0001213900-25-096176
Chunk: 39

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-10-03
Form: DEF 14A
Chunk 39
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M has limited time to complete its initial business combination.
If CSLM cannot complete its initial business combination by October 18, 2025 (a later date if CSLM extends the timeline to complete its
initial business combination) because the review process drags on beyond such timeframe or because CSLM’s initial business combination
is ultimately prohibited by CFIUS or another U.S. government entity, CSLM may be required to liquidate. If CSLM liquidates, based on the
Trust Account balance as of October 3, 2025 of $12,307,008.65, CSLM’s public shareholders may only receive approximately $13.64
per Ordinary Share, and the warrants and rights will expire worthless. This will also cause shareholders to lose the investment opportunity
in a target company and the chance of realizing future gains on their investment through any price appreciation in the combined company.

<div align='center'>20</div>

Risks Related to Being Deemed an Investment Company

If we were deemed to be an
investment company for purposes of the Investment Company Act of 1940, as amended (the “Investment Company Act”), we may
be forced to abandon our efforts to complete the Proposed Business Combination and instead be required to liquidate the Company.

There is currently uncertainty
concerning the applicability of the Investment Company Act to a special purpose acquisition company (“SPAC”) and we may in
the future be subject to a claim that we have been operating as an unregistered investment company. If we are deemed to be an investment
company for purposes of the Investment Company Act, we might be forced to abandon our efforts to complete the Proposed Business Combination
and instead be required to liquidate. If we are required to liquidate, our investors would not be able to realize the benefits of owning
stock in a successor operating business, including the potential appreciation in the value of our stock and warrants following such a
transaction, and our warrants would expire worthless.

The longer that the funds
in the trust account are held in short-term U.S. government securities or in money market funds invested exclusively in such securities,
the greater the risk that we may be considered an unregistered investment company, in which case we may be required to liquidate.

Full Text of the Resolution.

Please see Annex A.

<div align='center'>THE BOARD RECOMMENDS A VOTE “FOR” THE EXTENSION PROPOSAL.

21

PROPOSAL 2-

THE TRUST AMENDMENT</div>