Company: KOYNU
Filing Date: 2025-08-12
Form Type: S-1/A
Source: 0001829126-25-006117
Chunk: 433

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-08-12
Form: S-1/A
Chunk 433
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 use its commercially reasonable efforts to register or qualify the shares under applicable blue sky laws
to the extent an exemption is not available.

If the holders exercise their Public Warrants
on a cashless basis, they would pay the warrant exercise price by surrendering the warrants for that number of Class A ordinary shares
equal to the quotient obtained by dividing (x) the product of the number of Class A ordinary shares underlying the warrants, multiplied
by the excess of the “fair market value” of the Class A ordinary shares over the exercise price of the warrants by (y) the
fair market value. The “fair market value” is the average reported closing price of the Class A ordinary shares for the 10
trading days ending on the third trading day prior to the date on which the notice of exercise is received by the warrant agent or on
which the notice of redemption is sent to the holders of warrants, as applicable.

<div align='center'>F-31</div>

Redemption of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $18.00: The Company may redeem the outstanding Warrants:

| ● | in whole and not in part; |

| ● | at a price of $0.01 per Warrant; |

| ● | upon a minimum of 30 days’                                               
 prior written notice of redemption (the “30-day redemption period”); and |

| ● | if, and only if, the closing price                                                                                                    
 of the Class A ordinary shares equals or exceeds $18.00 per share (as adjusted for adjustments to the number of shares issuable upon  
 exercise or the exercise price of a Warrant) for any 20 trading days within a 30-trading day period commencing at least 30 days after 
 completion of the Company’s initial Business Combination and ending three business days before the Company sends the notice           
 of redemption to the Warrant holders.                                                                                                 |

Additionally, if the number of outstanding Class
A ordinary shares is increased by a share capitalization payable in Class A ordinary shares, or by a subdivision of ordinary shares or
other similar event, then, on the effective date of such share capitalization, subdivision or similar event, the number of Class A ordinary
shares issuable on exercise of each Warrant will be increased in proportion to such increase in the outstanding ordinary shares. A rights
offering made to all or substantially all holders of ordinary shares entitling holders to purchase Class A ordinary shares at a price
less than the