Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 197

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 197
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 trust account to repay such loaned amounts
but no proceeds from our trust account would be used to repay such loaned amounts.
Up to $1,500,000 of such loans may be convertible into additional private units of the post-business combination entity at a price of $10.00 per unit at the option of the lender. The units would be identical to the private units. The terms of such loans by our officers and directors, if any, have not been determined
and no written agreements exist with respect to such loans.

Furthermore, the redemption threshold may be further limited by the terms and conditions
of our initial business combination. If too many public shareholders exercise their
redemption rights so that we cannot satisfy the net tangible asset requirement or
any net worth or cash requirements, we would not proceed with the redemption of our
public shares or the business combination, and instead may search for an alternate
business combination.

<div align='center'>110</div>

A public shareholder will be entitled to receive funds from the trust account only
upon the earlier to occur of: (i) our consummation of our initial business combination, and then only in connection
with those Class A ordinary shares that such shareholder properly elected to redeem, subject to the
limitations described herein, (ii) the redemption of our public shares if we are unable to consummate our initial business
combination within 24 months from the closing of this offering or, if our charter documents are amended
to so provide, (iii) the redemption of our public shares in connection with a shareholder vote to amend
our amended and restated memorandum and articles of association (A) to modify the substance or timing of our obligation to redeem 100% of our public shares
if we do not complete our initial business combination within 24 months from the closing of this offering (or any extended period of time that we
may have to consummate an initial business combination as a result of an amendment
to our amended and restated memorandum and articles of association), or (B) with respect to any other provision relating to shareholders’ rights or pre-business combination activity, subject to applicable law. In no other
circumstances will a public shareholder have any right or interest of any kind to
or in the trust account.

Our initial shareholders will each enter into agreements with us, pursuant to which
they will agree: (1) to waive their redemption rights with respect to their founder shares and private shares held by them in connection with the consummation of our initial business