Company: KOYNU
Filing Date: 2025-07-31
Form Type: S-1/A
Source: 0001829126-25-005627
Chunk: 401

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-31
Form: S-1/A
Chunk 401
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or earlier upon redemption or liquidation.

<div align='center'>F-12</div>

Public Warrants —No Warrants are currently
outstanding. Each whole Warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share, subject to
adjustment as discussed herein. The Warrants cannot be exercised until 30 days after the completion of the initial Business Combination,
and will expire at 5:00 p.m., New York City time, five years after the completion of the initial Business Combination or earlier upon
redemption or liquidation.

The Company will not be obligated to deliver any
Class A ordinary shares pursuant to the exercise of a Warrant and will have no obligation to settle such Warrant exercise unless a registration
statement under the Securities Act with respect to the Class A ordinary shares underlying the Warrants is then effective and a prospectus
relating thereto is current. No Warrant will be exercisable and the Company will not be obligated to issue a Class A ordinary share upon
exercise of a Warrant unless the Class A ordinary share issuable upon such Warrant exercise has been registered, qualified or deemed
to be exempt under the securities laws of the state of residence of the registered holder of the Warrants. In the event that the conditions
in the two immediately preceding sentences are not satisfied with respect to a Warrant, the holder of such Warrant will not be entitled
to exercise such Warrant and such Warrant may have no value and expire worthless. In no event will the Company be required to net cash
settle any Warrant. In the event that a registration statement is not effective for the exercised Warrants, the purchaser of a Unit containing
such Warrant will have paid the full purchase price for the Unit solely for the Class A ordinary share underlying such Unit.

Under the terms of the warrant agreement, the
Company will agree that, as soon as practicable, but in no event later than 20 business days after the closing of its Business Combination,
it will use commercially reasonable efforts to file with the SEC a post-effective amendment to the registration statement for the Proposed
Public Offering or a new registration statement covering the registration under the Securities Act of the Class A ordinary shares issuable
upon exercise of the Warrants and thereafter will use its commercially reasonable efforts to cause the same to become effective within
60 business days following the Company’s initial Business Combination and to maintain a current prospectus relating to the Class
A ordinary shares issuable