Company: KOYNU
Filing Date: 2025-07-31
Form Type: S-1/A
Source: 0001829126-25-005627
Chunk: 321

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-31
Form: S-1/A
Chunk 321
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 ordinary share at a price of $11.50 per share, subject to adjustment
as discussed below, at any time commencing on 30 days after the completion of our initial business combination. Pursuant to the warrant
agreement, a warrant holder may exercise its warrants only for a whole number of Class A ordinary shares. This means that only a whole
warrant may be exercised at any given time by a warrant holder. No fractional warrants will be issued upon separation of the units and
only whole warrants will trade. The warrants will expire at 5:00 p.m., New York City time, on the fifth anniversary of our completion
of an initial business combination, or earlier upon redemption or the liquidation of the Company.

No public warrants will
be exercisable for cash unless we have an effective and current registration statement covering the warrant shares issuable upon exercise
of the warrants and a current prospectus relating to such warrant shares. Notwithstanding the foregoing, if a registration statement
covering the issuance of the warrant shares issuable upon exercise of the public warrants is not effective within 60 days from the closing
of our initial business combination, warrant holders may, commencing on the 61 day until such time as there is an effective
registration statement and during any period when we shall have failed to maintain an effective registration statement, exercise warrants
on a cashless basis pursuant to an available exemption from registration under the Securities Act. If an exemption from registration
is not available, holders will not be able to exercise their warrants on a cashless basis. In the event of a cashless exercise, each
holder would pay the exercise price by surrendering the warrants for that number of warrant shares equal to the quotient obtained by
dividing (x) the product of the number of warrant shares underlying the warrants, multiplied by the difference between the exercise price
of the warrants and the “fair market value” by (y) the fair market value. The “fair market value” for this purpose
will mean the average reported last sale price of the public shares for the ten trading days ending on the trading day prior to the date
of exercise.

Once the warrants become exercisable,
we may redeem the outstanding warrants:

| ● | at a price of $0.01 per warrant; |

| ● | upon a minimum of 30 days’ prior                                                     
 written notice of redemption, which we refer to as the 30-day redemption period; and |

| ● | if, and only if, the last reported