Company: CSLMF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076682
Chunk: 37

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 2024, the Company’s marketable
securities held in the Trust Account were valued at $16,572,304 and $16,053,202, respectively. The marketable securities held in the
Trust Account must be recorded on the balance sheet at fair value and are subject to re-measurement at each balance sheet date. With
each re- measurement, the valuations will be adjusted to fair value, with the change in fair value recognized in the Company’s
statement of operations. 

The following table presents the fair value information, as of June
30, 2025 and December 31, 2024, of the Company’s financial assets that were accounted for at fair value on a recurring basis and
indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. The Company’s
marketable securities held in the Trust Account are based on dividend and interest income and market fluctuations in the value of invested
marketable securities, which are considered observable. The fair value of the marketable securities held in trust is classified within
Level 1 of the fair value hierarchy.

The following table sets forth by level within the fair value hierarchy
the Company’s assets and liabilities that were accounted for at fair value on a recurring basis:

    (Level 1)  
    (Level 2)  
    (Level 3) 
  
    As of June 30, 2025 

    Assets: 

    Treasury Trust Funds held in Trust Account 
    $16,572,304  
    $—  
    $— 
  
    As of December 31, 2024 

    Assets: 

    Treasury Trust Funds held in Trust Account 
    $16,053,202  
    $—  
    $— 

Non-Recurring Fair Value Measurements

On February 4, 2025, the Company entered into a third amendment on
its WC Promissory Note which resulted in the Company accounting for the 3rd A&R WC Promissory Note as a debt extinguishment (see Note
5). As a result, the Company measured the 3rd A&R WC Promissory Note at its reacquisition price, which is the fair value of the amended
debt instrument on February 4, 2025, or $4,715,000. The 3rd A&R WC Promissory Note was issued at a substantial premium (see Note 5),