Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 376

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 376
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 Trust Account of $2,032,507, offset by $214,185 of insurance expense amortization, $1,253,545 of legal and accounting expenses, $120,000 of administrative expenses due to related party, $170,745 dues and subscriptions expenses, $101,343 of
interest expense on the promissory note with related party, and $374 of formation costs. Additionally, the Company earned $505,000 of covenant fees which was fully offset by a $505,000 reserve for credit losses.

For the year ended December 31, 2023, we had net income of $4,626,782, which consisted of realized gains on marketable securities held in
the Trust Account of $2,538,270 and dividend income on marketable securities held in the Trust Account of $3,736,950, offset by $477,750 of insurance expense amortization, $644,515 of legal and accounting expenses, $240,000 of administrative
expenses due to related party, $256,333 dues and subscriptions expenses, $28,288 of interest expense on the promissory note with related party, and $1,552 of bank fees, general and administrative expenses.

Liquidity and Capital Resources

As of March 31, 2025 and December 31, 2024, the Company had $3,213 and $83,227 in cash, respectively, and a working capital deficit
of $4,524,290 and $4,056,679, respectively, excluding Marketing Securities held in the Trust Account and the Deferred Underwriter Fee liability.

237

As of December 31, 2024 and December 31, 2023, the Company had $83,227 and
$138,283 in cash, respectively, and a working capital deficit of $4,056,679 and $1,676,487, respectively, excluding Marketable Securities held in the Trust Account and the Deferred Underwriter Commissions liability.

For the three months ended March 31, 2025, net cash provided by operating activities was $70,664. Net loss of $2,061,897 was decreased by
a $1,822,844 loss on extinguishment of debt, accrued dividends on marketable securities held in trust of $2,120, the Sponsor waiver of administrative services fees of $30,000, and an increase of $277,597 to operating assets and liabilities.

For the three months ended March 31, 2024