Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 287

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 287
---
, a shareholder approval of the transaction is required
by law, or we decide to obtain shareholder approval for business or other legal reasons,
we will, like many blank check companies, offer to redeem shares in conjunction with
a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer
rules.

If we seek shareholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business combination
pursuant to the tender offer rules, our amended and restated memorandum and articles
of association will provide that a public shareholder, together with any affiliate
of such shareholder or any other person with whom such shareholder is acting in concert
or as a “group” (as defined under Section 13 of the Exchange Act), will be restricted from redeeming its public shares with respect
to Excess Shares, without our prior consent. However, we would not be restricting
our shareholders’ ability to vote all of their shares (including Excess Shares) for or against our
initial business combination. Our shareholders’ inability to redeem the Excess Shares will reduce their influence over our ability
to complete our initial business combination, and such shareholders could suffer a
material loss in their investment if they sell such Excess Shares on the open market.
Additionally, such shareholders will not receive redemption distributions with respect
to the Excess Shares if we complete our initial business combination. And, as a result,
such shareholders will continue to hold that number of shares exceeding 15% and, in
order to dispose such shares would be required to sell their shares in open market
transactions, potentially at a loss.

If we seek shareholder approval, we will complete our initial business combination
only if a majority of the ordinary shares, represented in person or by proxy and entitled
to vote thereon, voted at a shareholder meeting are voted in favor of the business
combination. In such case, our Sponsor and each member of our management team have agreed to vote their founder shares, private shares and public shares purchased during or after this offering in favor of our initial
business combination. As a result, in addition to our initial shareholders’ founder shares, we would need 6,279,166 public shares, or approximately 31.39% of the 20,000,000 public shares sold in this offering to be voted in favor of an initial business combination in order to have
our initial business combination approved (assuming all issued and outstanding shares
are voted and the over-allotment option is not exercised).