Company: KOYNU
Filing Date: 2025-07-31
Form Type: S-1/A
Source: 0001829126-25-005627
Chunk: 118

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-31
Form: S-1/A
Chunk 118
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 complete an initial business combination. Although we intend to consummate our business combination with a target with an aggregate
enterprise value in excess of $500 million, there is no guarantee that we will do so. If we are unable to locate a target business
or businesses that satisfy this fair market value test, we may be forced to liquidate, and you will only be entitled to receive your
pro rata portion of the funds in the trust account. If Nasdaq delists our securities from trading on its exchange after this offering,
we would not be required to satisfy the fair market value requirement described above and could complete an initial business combination
with a target business having a fair market value substantially below 80% of the balance in the trust account. If the net proceeds of
this offering and the sale of the private warrants not being held in the trust account are insufficient to allow us to operate for at
least the completion window, we may be unable to complete our initial business combination, in which case our public shareholders may
only receive $10.00 per share, or less than such amount in certain circumstances, and our warrants will expire worthless.

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The funds available to us outside
of the trust account may not be sufficient to allow us to operate for at least the completion window, assuming that our initial business
combination is not completed during that time. We believe that, upon the closing of this offering, the funds available to us outside
of the trust account will be sufficient to allow us to operate for at least the completion window; however, we cannot assure you that
our estimate is accurate.

Of the funds available to us,
we could use a portion of the funds available to us to pay fees to consultants to assist us with our search for a target business. We
could also use a portion of the funds as a down payment or to fund a “no-shop” provision (a provision in letters of intent
or merger agreements designed to keep target businesses from “shopping” around for transactions with other companies on terms
more favorable to such target businesses) with respect to a particular proposed initial business combination, although we do not have
any current intention to do so. If we entered into a letter of intent or merger agreement where we paid for the right to receive exclusivity
from a target business and were subsequently required to forfeit such funds (whether as a result of our breach or otherwise), we might
not have sufficient funds to continue searching for, or conduct due diligence with respect