Company: KOYNU
Filing Date: 2025-08-12
Form Type: S-1/A
Source: 0001829126-25-006117
Chunk: 50

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-08-12
Form: S-1/A
Chunk 50
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 of $0.003 per share, following which transfer our Sponsor holds an aggregate of 7,566,667 
 founder shares.                                                                                                                                                                                                                                                                                                                                                                        |

Because our Sponsor (and pursuant to the Securities Transfer Agreement, each of the Company’s director nominees, Christopher Bradley, Brian Rudick, Mathew August, Danel Calvillo Armendariz and Dr. Jim Kyung Soo Liew) acquired the founder shares at a nominal price ($0.003 per share), our public shareholders will incur immediate and substantial dilution upon the closing of this offering, assuming no value is ascribed to the warrants included in the units. Further, the Class A ordinary shares issuable in connection with the conversion of the founder shares (including those issued in connection with an increase in the size of the offering) may result in material dilution to our public shareholders due to the anti-dilution rights of our founder shares that may ultimately result in an issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion. Additionally, our public shareholders may experience dilution from the exercise of the 387,500 private warrants (408,125 private warrants if the underwriter’s over-allotment option is exercised in full) that compose part of the private units to be purchased by our Sponsor simultaneously with the closing of this offering as well as conversion of any working capital loans into units, if elected by the Sponsor or by another person or entity who made such working capital loans. The exercise of the private warrants that compose part of the private units would cause the actual dilution to the public shareholders to be higher, particularly where a cashless exercise for warrants is utilized. See the sections titled “Risk Factors — Risks Relating to our Securities — The nominal purchase price paid by our Sponsor for the founder shares may result in significant dilution to the implied value of your public shares upon the consummation of our initial business combination, and our Sponsor is likely to make a substantial profit on its investment in us in the event we consummate an initial business combination, even if the business combination causes the trading price of our ordinary shares to materially decline” and “Dilution.” Status as a Public Company After this offering, we believe our structure will make us an attractive business combination partner to prospective target businesses. As a publicly traded company, we will offer a target business an alternative to the traditional initial public offering. We believe that target businesses will favor this alternative, which we believe is less expensive, while offering greater certainty of execution than a traditional initial