Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 536

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 536
---
, the Company repaid $206,313 for amounts outstanding under the Promissory Note balance, resulting in an overpayment of $25,000. The Company also made payments
related to Sponsor invoices. These items are recorded within due from related party on the condensed balance sheet as of March 31, 2025 and December 31, 2024.

In February 2023, the Sponsor issued an unsecured promissory note to the Company (the “WC Promissory Note”), pursuant to which the
Company may borrow up to an aggregate principal amount of $1,500,000. The WC Promissory Note bears interest at a rate of 4.75% per annum and is payable on the earlier of the date by which the Company has to complete a business combination or the
effective date of a business combination. On January 18, 2024, the Company issued an amended and restated promissory note (the “A&R WC Promissory Note”), pursuant to which the Company may borrow up to an aggregate principal amount
of $2,000,000. The A&R Promissory Note does not amend any other existing terms. The Company drew an aggregate of $2,860,000 and has accrued $162,499 of interest on principal amounts outstanding as of March 31, 2025 and drew an aggregate of
$2,750,000 and has accrued $129,630 of interest on principal amounts outstanding as of December 31, 2024.

On February 4, 2025, the
Company issued a third amended and restated promissory note (the “3rd A&R WC Promissory Note”) pursuant to which the Company may borrow up to an aggregate principal amount of $3,000,000. The 3rd A&R Promissory Note additionally
includes a conversion feature whereby, notwithstanding the foregoing in the event of the Business Combination, the outstanding balance may be repaid at the Sponsor’s discretion, in cash or $1,491,000 of the principal and accrued and unpaid
interest shall be converted into the Company’s Class A ordinary shares at a share price of four dollars ($4.00), the balance of which shall be payable in cash at the closing of the Business Combination.

F-39

The Company determined that the third amendment to the WC Promissory note is not considered
a troubled debt restructuring and that the inclusion of a conversion feature is a substantive modification. As a result, the issuance