Company: KOYNU
Filing Date: 2025-06-18
Form Type: S-1
Source: 0001829126-25-004586
Chunk: 65

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-06-18
Form: S-1
Chunk 65
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 that may result in material dilution to public shareholders. For more information also see below adjacent to the caption “Limited payments to insiders.” |

| Transfer restrictions applicable to founder shares and private units |     | Except with respect to permitted transferees as described herein under “Principal Shareholders,” our initial shareholders have agreed not to transfer, assign or sell any of their respective founder shares and private units that they may hold until the date that is (i) in the case of the founder shares, the earlier of (A) six months after the date of the consummation of our initial business combination or (B) subsequent to our initial business combination, the date on which we consummate a liquidation, merger, stock exchange or other similar transaction after our initial business combination which results in all of our shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property, and (ii) in the case of the private units or any securities underlying the private units, until 30 days after the completion of our initial business combination. |

| Except in certain limited circumstances, no member of the Sponsor (including the non-managing Sponsor investors) may sell, transfer, assign, pledge, mortgage, charge, hypothecate, exchange or otherwise dispose, directly or indirectly, (a “Transfer”) all or any portion of its ordinary shares in the Sponsor. For more information, see “Principal Shareholders — Restrictions on Transfers of Founder Shares and Private Units”. |

| Any permitted transferees would be subject to the same restrictions and other agreements of our initial shareholders with respect to any founder shares and private units. We refer to such transfer restrictions throughout this prospectus as the “lock-up.” |

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| Conversion of founder shares and anti-dilution rights |     | Subject to adjustment for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein, the founder shares, which are designated as Class B ordinary shares, will be convertible at the option of the holder on a one-for-one basis or will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of our initial business combination at a ratio such that the number of Class A ordinary shares issuable upon conversion of all founder shares will equal, in the aggregate, on an as-converted basis, 25% of the sum of (i) the total number of ordinary shares issued and outstanding (assuming no exercise of the over