Company: KOYNU
Filing Date: 2025-08-12
Form Type: S-1/A
Source: 0001829126-25-006117
Chunk: 172

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-08-12
Form: S-1/A
Chunk 172
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 whether a particular business combination target is appropriate for our initial business combination.

Our Sponsor has acquired 7,666,667 Class B ordinary shares for the sum of $25,000 (of which, 1,000,000 are subject to surrender for no consideration if the underwriter does not exercise its over-allotment option. Pursuant to a Securities Transfer Agreement, our Sponsor has transferred 20,000 founder shares (or 100,000 in the aggregate) to each of the Company’s director nominees, Christopher Bradley, Brian Rudick, Mathew August, Danel Calvillo Armendariz and Dr. Jim Kyung Soo Liew, for the sum of $0.003 per share, following which transfer our Sponsor holds an aggregate of 7,566,667
founder shares. Our initial shareholders will collectively own 25% of our issued and outstanding shares after this offering (assuming they do not purchase any units in this offering and excluding any shares underlying the private units). If we increase or decrease the size of this offering, we will effect a capitalization or share repurchase or redemption or other appropriate mechanism, as applicable, with respect to our founder shares immediately prior to the consummation of this offering in such amount as to maintain the number of founder shares, on an as-converted basis, at 25% of our issued and outstanding ordinary shares upon the consummation of this offering. The Class A ordinary shares issuable upon conversion of the founder shares may ultimately result in material dilution to our public shareholders due to the anti-dilution rights of our founder shares that may result in an issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion. The founder shares will be worthless if we do not complete an initial business combination.

In addition, our Sponsor has committed to purchase an aggregate of 500,000 private units (or 575,000 private units if the underwriter’s over-allotment option is exercised in full) for a purchase price of $5,000,000 (or $5,750,000 if the underwriter’s over-allotment option is exercised in full), or $10.00 per unit, that will also be worthless if we do not complete a business combination.

The founder shares are identical to the ordinary shares included in the units being sold in this offering except that: (1) prior to our initial business combination, only holders of the founder shares have the right to vote on the appointment and removal of our directors and only