Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 251

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 251
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 Many
of these entities are well established and have extensive experience identifying and
effecting business combinations directly or through affiliates. Many of these competitors
possess greater technical, human and other resources than us and our financial resources
will be relatively limited when contrasted with those of many of these competitors.
Although we believe there may be numerous potential target businesses that we could
acquire with the net proceeds of this offering, our ability to compete in acquiring
certain sizable target businesses may be limited by our available financial resources.

The following also may not be viewed favorably by certain target businesses:

| ● | our obligation to seek shareholder approval of a business combination  
 or engage in a tender offer may delay the completion of a transaction; |

| ● | our obligation to convert or repurchase Class A ordinary shares                                          
 held by our public shareholders may reduce the resources available to us for a business combination; and |

| ● | our outstanding warrants and unit purchase options, and the 
 potential future dilution they represent.                   |

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Any of these factors may place us at a competitive disadvantage in successfully negotiating
a business combination. Our management believes, however, that our status as a public
entity and potential access to the United States public equity markets may give us
a competitive advantage over privately held entities having a similar business objective
as ours in acquiring a target business with significant growth potential on favorable
terms.

If we succeed in effecting a business combination, there will be, in all likelihood,
intense competition from competitors of the target business. We cannot assure you
that, subsequent to a business combination, we will have the resources or ability
to compete effectively.

Facilities

We currently maintain our executive
offices at 2400 E. Commercial Boulevard, Suite 900, Ft. Lauderdale, FL 33308. The cost for this space is included in the $20,000 per
month fee that we will pay our Sponsor for company administration, office space, utilities, and secretarial and administrative support.
We consider our current office space adequate for our current operations.

Employees

We currently have three officers and do not intend to have any full-time employees prior to the completion of our initial business combination. Members of
our team are not obligated to devote any specific number of hours to our matters but
they intend to devote as much of their time as they deem necessary to our affairs
until we have completed our initial business combination. The amount of time that
any such person will devote