Company: KOYNU
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001829126-25-009093
Chunk: 13

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 guidance contained in FASB ASC Topic 815, “Derivatives and Hedging”. Accordingly, the Company evaluated and classifies the warrant instruments under equity treatment at their relative fair values. There were 11,500,000 Public Warrants and 445,625 Private Placement Warrants outstanding as of September 30, 2025 and no Public Warrants or Private Placement Warrants outstanding as of December 31, 2024.

Class A Ordinary Shares Subject to Possible Redemption

The Public Shares contain a redemption feature which allows for the redemption of such Public Shares in connection with the Company’s liquidation, or if there is a shareholder vote or tender offer in connection with the Company’s initial Business Combination. In accordance with ASC 480-10-S99, the Company classifies Public Shares subject to possible redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company. The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of redeemable shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption value. The change in the carrying value of redeemable shares will result in charges against additional paid-in capital (to the extent available) and accumulated deficit. Accordingly, as of September 30, 2025, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ deficit section of the Company’s balance sheet. As of September 30, 2025, the Class A ordinary shares subject to possible redemption reflected in the balance sheet are reconciled in the following table:

    Schedule of Class A ordinary shares subject to possible redemption

    Gross proceeds from Initial Public Offering
     
    $
    230,000,000

    Less:

    Proceeds allocated to public warrants

    (5,152,349
    )
  
    Offering costs allocated to Class A ordinary shares subject to possible redemption

    (13,905,206
    )
  
    Offering costs allocated to Public Warrants

    (340,189
    )
  
    Plus:

    Accretion of Class A ordinary shares subject to possible redemption

    20,274,401

    Class A ordinary shares subject to possible redemption at September 30, 2025
     
    $
    230,876,657

Net Income (Loss) Per Ordinary Share

The statements of operations include