Company: KOYNU
Filing Date: 2025-07-31
Form Type: S-1/A
Source: 0001829126-25-005627
Chunk: 304

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-31
Form: S-1/A
Chunk 304
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 approve our proposed initial business combination and (D)
that such private shares shall not participate in any liquidating distribution upon winding up if a business combination is not consummated,
until all of the claims of any redeeming shareholders and creditors are fully satisfied (and then only from funds held outside the trust
account). To the extent that our initial shareholders acquire any public shares after we publicly announce our intention to engage in
a proposed business combination, such initial shareholders have agreed pursuant to the terms of a letter agreement that they will not
vote such shares for or against such business combination.

Our initial shareholders have
agreed not to transfer, assign or sell any of their respective founder shares that they hold until the date that is (i) in the case of
the founder shares, the earlier of (A) six months after the date of the consummation of our initial business combination or (B) the date
on which we consummate a liquidation, merger, stock exchange or other similar transaction after our initial business combination which
results in all of our shareholders having the right to exchange their public shares for cash, securities or other property, and (ii)
in the case of the private units or any securities underlying the private units, until 30 days after the completion of our initial business
combination. Notwithstanding the foregoing, the lock-up period of the non-managing Sponsor investors shall not be longer than the Sponsor’s
lock-up period; provided that if upon consummation of an initial business combination, any securityholder holding more than three percent
(3.0%) of the capital stock of the surviving company is not subject to a lock-up agreement or is subject to a lock-up agreement for a
shorter period of time than non-managing Sponsor investors, the non-managing Sponsor investors’ lock-up period shall be reduced
to the shortest lock-up period or terminated, as the case may be, unless such exclusion from the lock-up obligations is required in compliance
with the listing rules of Nasdaq or any other national stock exchange.

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Notwithstanding the foregoing,
during their respective lock-up periods, the initial shareholders may transfer, assign or sell any of the aforenamed securities (1) amongst
the Sponsor and its affiliates, to our executive officers or directors, or to any affiliate or family member of any of our executive
officers or directors, (2) in the case of an entity, as a distribution to its partners, shareholders or members upon its liquidation,