Company: KOYNU
Filing Date: 2025-08-27
Form Type: 424B4
Source: 0001829126-25-006758
Chunk: 285

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-08-27
Form: 424B4
Chunk 285
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 Regulation M under the Exchange Act. We do not currently anticipate that such purchases, if any, would constitute a tender offer subject to the tender offer rules under the Exchange Act or a going-private transaction subject to the going-private rules under the Exchange Act; however, if the purchasers determine at the time of any such purchases that the purchases are subject to such rules, the purchasers will comply with such rules. |     | If we are unable to complete our initial business combination within the completion window, we will redeem all public shares at a per-share price, payable in cash, equal to the aggregate amount, then on deposit in the trust account (which is initially anticipated to be $10.00 per share), including interest earned thereon (which interest shall be net of any permitted withdrawals) divided by the number of then issued and outstanding public shares. |
| Impact to remaining shareholders |     | The redemptions in connection with our initial business combination will reduce the book value per share for our remaining shareholders, who will bear the burden of the deferred underwriting commissions and interest withdrawn in order to pay our taxes (to the extent not paid from amounts accrued as interest on the funds held in the trust account).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |     | If the permitted purchases described above are made, there would be no impact to our remaining shareholders because the purchase price would not be paid by us.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |     | The redemption of our public shares if we fail to complete our initial business combination will reduce the book value per share for the shares held by our initial shareholders, who will be our only remaining shareholders after such redemptions.                                                                                                                                                                                                             |

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Comparison of This Offering to Those of Blank Check Companies Subject to Rule 419

The following table compares the terms of this offering to the terms of an offering by a blank check company subject to the provisions of Rule 419. This comparison assumes that the gross proceeds, underwriting commissions and underwriting expenses of our offering would be identical to those of an offering undertaken by a company subject to Rule 419, and that the underwriter will not exercise its over-allotment option. None of the provisions of Rule 419 apply to our offering.

|                                                           |     | Terms of Our Offering                                                                                                                                                                                                                                                                                                                                                                                                                                    |     | Terms Under a Rule 419 Offering                                                                                                                                                                                                                                                                                                                                                   |
| Escrow of offering proceeds                               |     | $200,000,000 of the net proceeds of this offering and the sale of the private