Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 51

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 51
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 trust account. |

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| We are not registering the Class A ordinary shares issuable upon exercise of the warrants (the “warrant shares”) at this time. However, we have agreed that as soon as practicable, but in no event later than 20 business days after the closing of our initial business combination, we will use our best efforts to file with the SEC a registration statement for the registration under the Securities Act of the warrant shares and thereafter use our best efforts to cause the registration statement to become effective and to maintain the effectiveness of such registration statement until the expiration of the warrants. No warrants will be exercisable for cash unless we have an effective and current registration statement covering the issuance of the warrant shares and a current prospectus relating thereto. |

| If a registration statement                                                                                                                 
 covering the issuance of the warrant shares is not effective within 60 days following the consummation of our initial business combination, 
 warrant holders may, commencing on the 61st day until such time as there is such an effective registration statement and                    
 during any period when we shall have failed to maintain such an effective registration statement, exercise warrants on a cashless           
 basis in accordance with Section 3(a)(9) of the Securities Act. In this circumstance, each holder would pay the exercise price by           
 surrendering warrants exercisable for the number of Class A ordinary shares equal to the quotient obtained by dividing (x) the product      
 of the number of Class A ordinary shares underlying such warrants and the difference between the exercise price of such warrants            
 and the “fair market value” (defined below) by (y) the fair market value. The “fair market value” means the                                 
 average reported last sale price of the Class A ordinary shares for the ten trading days ending on the trading day prior to the date        
 of exercise.                                                                                                                                |

| Exercise period |     | The warrants will become exercisable 30 days after the completion of our initial business combination |

| 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. No fractional shares will be issued upon exercise of the warrants, and only whole warrants will trade. If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in a share, we will, upon exercise, round down to the nearest whole number of Class A ordinary shares to be issued to the warrant holder. |

| Redemption