Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 146

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 146
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 banking firm or from an independent accounting
firm that such business combination is fair to our Company from a financial point of view. In fact, we may enter into a business combination
with a target business that is affiliated with our Sponsor, our directors or officers, although we do not intend to do so. Nor do we have
a policy that expressly prohibits any such persons from engaging for their own account in business activities of the types conducted by
us. Accordingly, such persons or entities may have a conflict between their interests and ours.

In particular, affiliates of our Sponsor have invested in a diverse set of industries. As a result, there may be substantial overlap between companies that would be a suitable business combination for us and companies that would make an attractive target for such other affiliates.

We may engage in a business combination with one or more target businesses that have relationships with entities that may be affiliated with our Sponsor, directors or officers which may raise potential conflicts of interest.

In light of the involvement
of our Sponsor, directors and officers with other entities, we may decide to acquire one or more businesses or entities affiliated with
our Sponsor, directors and officers. Certain of our directors and officers also serve as officers and board members for other entities,
including those described under “Management and Advisors — Conflicts of Interest.” Such entities may compete with us
for business combination opportunities. Our Sponsor, directors and officers are not currently aware of any specific opportunities for
us to complete our initial business combination with any entities with which they are affiliated, and there have been no preliminary discussions
concerning a business combination with any such entity or entities. Although we will not be specifically focusing on, or targeting, any
transaction with any affiliated entities, we would pursue such a transaction if we determined that such affiliated entity met our criteria
and guidelines for a business combination as set forth in “Proposed Business — Effecting Our Initial Business Combination
— Selection of a target business and structuring of our initial business combination” and such transaction was approved by
a majority of our independent and disinterested directors. Despite our agreement that we, or a committee of independent and disinterested
directors, will obtain an opinion from an independent investment banking firm that is a member of FINRA or from an independent entity
that commonly renders valuation opinions regarding the fairness to our Company from a financial point of view of a business combination
with one or more domestic or international businesses affiliated with our Sponsor, directors or officers, potential conflicts of interest
still may exist and, as a result,