Company: KOYNU
Filing Date: 2025-07-08
Form Type: S-1/A
Source: 0001829126-25-004923
Chunk: 326

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-08
Form: S-1/A
Chunk 326
---
 the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of our initial business combination on the date of the consummation of our initial business combination (net of redemptions), and (z) the Market Value is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 180% of the greater of (i) the Market Value or (ii) the price at which we issue the additional ordinary shares or equity-linked securities.

The warrants may be exercised upon surrender of the warrant certificate on or prior to the expiration date at the offices of the warrant agent, with the exercise form on the reverse side of the warrant certificate completed and executed as indicated, accompanied by full payment of the exercise price (or on a cashless basis, if applicable), by certified or official bank check payable to us, for the number of warrants being exercised. The warrant holders do not have the rights or privileges of holders of Class A ordinary shares and any voting rights until they exercise their warrants and receive Class A ordinary shares. After the issuance of Class A ordinary shares upon exercise of the warrants, each holder will be entitled to one vote for each share held of record on all matters to be voted on by shareholders.

<div align='center'>188</div>

Under the terms of the warrant
agreement, we have agreed that as soon as practicable, but in no event later than 20 business days after the closing of our initial business
combination, we will use our best efforts to file with the SEC a registration statement for the registration under the Securities Act
of the warrant shares and thereafter use our best efforts to cause the registration statement to become effective and to maintain the
effectiveness of such registration statement until the expiration of the warrants. However, we cannot assure you that we will be able
to do so and, if we do not maintain a current prospectus relating to the warrant shares issuable upon exercise of the warrants, holders
will be unable to exercise their warrants for cash and we will not be required to net cash settle or cash settle the warrant exercise.

No fractional shares will be issued upon exercise of the warrants. If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in a share, we will, upon exercise, round down to the nearest whole number of shares to be issued to the warrant holder. As a result, warrant holders not purchasing