Company: KOYNU
Filing Date: 2025-07-31
Form Type: S-1/A
Source: 0001829126-25-005627
Chunk: 414

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-31
Form: S-1/A
Chunk 414
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 sheet date through July 22, 2025, the date that the financial statements were available to be issued.
Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial
statements, other than as disclosed below.

The Company has borrowed an additional $259,000
under the Promissory note subsequent to March 31, 2025.

The Company made $181,537 of payments to vendors
subsequent to March 31, 2025.

The Sponsor has committed, pursuant to a Securities
Transfer Agreement that will close immediately prior to effectiveness of the registration statement, to transfer 20,000 founder shares
(or 100,000 in the aggregate) to each of the Company’s director nominees, for the sum of $0.003 per share.

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

<div align='center'>20,000,000 Units

CSLM Digital Asset Acquisition Corp III, Ltd

Preliminary Prospectus

, 2025

Lead Book-Running Manager

Cohen & Company Capital Markets</div>

Until [_______] 2025 (25 days after the date of this
prospectus), all dealers that buy, sell or trade our Class A ordinary shares, whether or not participating in this offering, may be required
to deliver a prospectus. This is in addition to the dealers’ obligation to deliver a prospectus when acting as underwriter and
with respect to its unsold allotments or subscriptions.

<div align='center'>PART II

INFORMATION NOT REQUIRED IN PROSPECTUS</div>

Item 13. Other Expenses of Issuance and Distribution.

The estimated expenses payable
by us in connection with the offering described in this registration statement (other than the underwriting discount) will be as follows:

| SEC Registration Fees           |     | $ |  55,460 |
| FINRA Filing Fees               |     | $ |  35,000 |
| Accounting fees and expenses    |     | $ |  75,000 |
| Printing and engraving expenses |     | $ |  35,000 |
| Nasdaq listing fees             |     | $ |  85,000 |
| Legal fees and expenses         |     | $ | 200,000 |
| Trustee fees and expenses       |     | $ |  40,000 |
| Miscellaneous(1)                |     | $ | 251,216 |
| Total