Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 78

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 78
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 articles of association, which requires the affirmative vote of at least a two-thirds
(2/3) majority (or such higher approval threshold as specified in the Company’s amended and restated memorandum and articles of
association) of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy
at a general meeting of the Company of which notice specifying the intention to propose the resolution as a special resolution has been
duly given. Our initial shareholders (and their permitted transferees will agree), pursuant to the terms of the agreements to be entered
into with us, to vote any Class A and Class B ordinary shares held by them in favor of our initial business combination. As a result,
in addition to the founder shares and private shares held by our initial shareholders, we would need approximately 6,279,166 public shares,
or approximately 31.39% of the 20,000,000 public shares sold in this offering to be voted in favor of a transaction (assuming all issued
and outstanding shares are voted, the over-allotment option is not exercised and 1,000,000 founder shares are forfeited) in order to
have such initial business combination approved. In addition, Meteora Capital, for which Mr. Mittal serves as the Managing Member and
Chief Investment Officer, Consilium or their affiliates may also purchase additional public shares which they have agreed to vote in
favor of a transaction.

Assuming that only the holders
of one-third of our issued and outstanding ordinary shares, representing a quorum under our amended and restated memorandum and articles
of association, vote their ordinary shares at a general meeting of the Company, we will not need any public shares in addition to our
founder shares to be voted in favor of an initial business combination in order to approve an initial business combination. However,
if our initial business combination is structured as a statutory merger or consolidation with another company under Cayman Islands law,
the approval of our initial business combination will require a special resolution, which requires the affirmative vote of at least two-thirds
of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable
general meeting of the Company. Accordingly, if we seek shareholder approval of our initial business combination, the agreement by our
initial shareholders and management team to vote in favor of our initial business combination will increase the likelihood that a special
resolution