Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 415

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 415
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 of December 31, 2024, we had an accumulated deficit of $34.22 million and a net loss of $15.38 million for the year ended December 31, 2024. In January 2024, we repurchased an aggregate of 667,000 shares of common stock held by our Chief Executive Officer at a price of $4.352 per share, which was below the fair market value of the Company’s common stock price of $4.46 per share in January 2024 (the “Repurchase Consideration”), and as such did not result in stock- based compensation for the Company. Mr. Maskey applied $902.7 thousand of the Repurchase Consideration 264

toward repayment of his 2023 Promissory Note to the Company. Upon repayment, the 2023 Promissory Note, along with any accrued interest, was settled, and the vested shares pledged under the 2023 Promissory Notes are now considered exercised. The repurchase was consummated to incentivize our CEO to enter into the January Related Party Pledge Agreement. See the sections herein entitled “Recent Developments – Repayment and Forgiveness of the Promissory Notes,” “Recent Developments – January 2024 Related Party Pledge Agreement,” and “Liquidity and Capital Resources as of December 31, 2024 – Financing Activities” for more information. The Company expects that it will need to raise additional capital in order to fund its continuing operations for the next 12 months and beyond. The Company does not currently have any plans to raise capital, but the Company expects to explore equity financing opportunities following the closing of the business combination. Although the Company does not currently foresee what instrument or instruments will be utilized to raise this capital, the Company currently seeks to raise capital through a private placement of common or preferred equity from institutional investors. The Company expects that the net proceeds of such capital raise or capital raises will fund its operations for at least twelve months. Currently, the Company expects to rely on one or more equity financings to fund its operations beyond twelve months. Cash flows Interim Period Cash Flows The following table summarizes our cash flows for the periods presented

| (In thousands)                          |     | Quarter ended 
 March 31,     
 2025          |      |   |     | 2024 |        |   |
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