Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 80

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 80
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 defined below), shares of Fusemachines Preferred Stock (as defined below), Fusemachines Options (as defined below), or Fusemachines Convertible Notes (as defined below) will receive an aggregate of the number of shares of Pubco Common Stock equal to the quotient obtained by dividing (a) $200,000,000, by (b) $10.00 (the “ Aggregate Merger Consideration”) in exchange for all of Fusemachines’ Aggregate Fully Diluted Fusemachines Common Stock. The Merger Agreement also provides, among other things, CSLM, Sameer Maskey, the founder and Chief Executive Officer of Fusemachines, and Pubco are entering into and delivering a Founder Transaction Bonus Agreement, (the “ Founder Transaction Bonus Agreement”), pursuant to which Mr. Maskey will be entitled to a transaction completion bonus of up to $1,000,000 upon the Closing. The transaction bonus to be paid to Dr. Maskey is equal to 20% of the sum of (i) the amount of cash remaining in the Trust Account after Redemptions and (ii) the amount of proceeds of any equity investments or debt financing facilities that are or will be actually received by CSLM prior to or substantially concurrently with the Closing, but excluding the PIPE Investment Amount, provided that such transaction bonus shall not exceed $1,000,000. Sponsor Convertible Notes Within five (5) Business Days following the execution of the Merger Agreement, and as a condition to Closing, an affiliate of Sponsor provided to Fusemachines loans in an aggregate amount of $6.5 million in the form of convertible promissory notes, of which $4.5 million is being used by Fusemachines for general corporate purposes, including debt repayment, and $2.0 million is being used by Fusemachines to repurchase certain Fusemachines shares from Mr. Maskey (collectively, the “ Sponsor Convertible Notes”), and contemporaneously therewith, Mr. Maskey entered into a pledge agreement with the Sponsor and Fusemachines (the “ Pledge Agreement”), pursuant to which Mr. Maskey pledged certain shares of Fusemachines Common Stock held by him to secure the Fusemachines’ obligations under the Sponsor Convertible Notes. The Sponsor Convertible Notes (i) may convert into shares of Preferred Stock of Fusemachines prior to the Closing of Merger at the option of the Sponsor in the event of a Qualified Financing, as defined in the Sponsor Convertible Notes, or (ii) automatically convert