Company: KOYNU
Filing Date: 2025-07-31
Form Type: S-1/A
Source: 0001829126-25-005627
Chunk: 103

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-31
Form: S-1/A
Chunk 103
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 shares in open market transactions. As a result, you will continue
to hold that number of shares exceeding 15% and, in order to dispose of such shares, you would be required to sell your shares in open
market transaction, potentially at a loss.

If the funds not being held in the trust account are insufficient to allow us to operate for at least the 24 months following the closing of this offering, we may be unable to complete our initial business combination.

The funds available to us outside
of the trust account may not be sufficient to allow us to operate for at least the 24 months following the closing of this offering,
assuming that our initial business combination is not completed during that time. We expect to incur significant costs in pursuit of
our acquisition plans. Management’s plans to address this need for capital through this offering and potential loans from certain
of our affiliates are discussed in the section of this prospectus titled “Management’s Discussion and Analysis of Financial
Condition and Results of Operations.” However, our affiliates are not obligated to make loans to us in the future, and we may not
be able to raise additional financing from unaffiliated parties necessary to fund our expenses. Any such event in the future may negatively
impact the analysis regarding our ability to continue as a going concern at such time.

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We believe that, upon the
closing of this offering, the funds available to us outside of the trust account will be sufficient to allow us to operate for at least
the 24 months following the closing of this offering; however, we cannot assure you that our estimate is accurate. Of the funds available
to us, we could use a portion of the funds available to us to pay fees to consultants to assist us with our search for a target business.
We could also use a portion of the funds as a down payment or to fund a “no-shop” provision (a provision in letters of intent
designed to keep target businesses from “shopping” around for transactions with other companies or investors on terms more
favorable to such target businesses) with respect to a particular proposed business combination, although we do not have any current
intention to do so. If we entered into a letter of intent where we paid for the right to receive exclusivity from a target business and
were subsequently required to forfeit such funds (whether as a result of our breach or otherwise), we might not have sufficient funds
to continue searching for, or conduct due diligence with respect to, a