Company: KOYNU
Filing Date: 2025-07-31
Form Type: S-1/A
Source: 0001829126-25-005627
Chunk: 272

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-31
Form: S-1/A
Chunk 272
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 circumstances shall a
shareholder have any right or interest of any kind to or in the trust account.

Our initial shareholders will
not participate in any redemption distribution from our trust account with respect to their founder shares and private shares. Additionally,
any loans made by our officers, directors, Sponsors or their affiliates for working capital needs will be forgiven and not repaid if
we are unable to complete an initial business combination.

If we are forced to file a bankruptcy
case or an involuntary bankruptcy case is filed against us which is not dismissed, the proceeds held in the trust account could be subject
to applicable bankruptcy law, and may be included in our bankruptcy estate and subject to the claims of third parties with priority over
the claims of our shareholders. To the extent any bankruptcy claims deplete the trust account, we cannot make any assurance of the amount
we will be able to return to our public shareholders.

If we are forced to file
a bankruptcy case or an involuntary bankruptcy case is filed against us which is not dismissed, any distributions received by shareholders
could be viewed under applicable debtor/creditor and/or bankruptcy laws as either a “preferential transfer” or a “fraudulent
conveyance.” As a result, a bankruptcy court could seek to recover all amounts received by our shareholders. Furthermore, because
we intend to distribute the proceeds held in the trust account to our public shareholders promptly after 24 months from the closing of
this offering, this may be viewed or interpreted as giving preference to our public shareholders over any potential creditors with respect
to access to or distributions from our assets. Furthermore, our Board of Directors may be viewed as having breached their fiduciary duties
to our creditors and/or may have acted in bad faith, and thereby exposing itself and our Company to claims of punitive damages, by paying
public shareholders from the trust account prior to addressing the claims of creditors. We cannot assure you that claims will not be
brought against us for these reasons.

Amended and Restated Memorandum and Articles of Association

Our amended and restated memorandum
and articles of association will contain certain requirements and restrictions relating to this offering that will apply to us until
the consummation of our initial business combination. These provisions cannot be amended without the approval of a majority of our shareholders.
If we seek to amend any provisions of our amended and restated memorandum and articles of association that would stop our public shareholders
from converting or selling their shares to us in connection with a business combination or affect the substance or timing