Company: CSLMF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076682
Chunk: 47

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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840,000, and (ii) the Contingent PIPE Investment Amount, if any; and (b) removes the delay fees incurred in connection with
delivery of Fusemachines’ financial statements.

In connection with the 2nd Amendment, an affiliate (the
“Sponsor Affiliate”) of the Sponsor, provided financing to Fusemachines in the amount of $2,160,000, in exchange for a
new convertible note which note shall convert into shares of common stock of Fusemachines at a price of $0.44 per share (a)
automatically at the time of the Business Combination, or (b) on July 12, 2025 at the option of the holder, if not, then payable in
cash (the “Escrow Note”). The funds from the Escrow Note shall be put in an escrow account held at Continental Stock
Transfer and Trust Company, CSLM’s transfer agent (“CST”) pursuant to an escrow agreement among CSLM, the Sponsor
Affiliate, Fusemachines and CST (the “Escrow Agreement”) and shall be released to the Surviving Corporation upon the
consummation of the Business Combination. In addition, the maturity dates on the two promissory notes issued by Fuse to the Sponsor
Affiliate on January 25, 2024 in the amounts of $4.5 million and $2 million, were extended to July 12, 2025.

On February 4, 2025, in connection with the 2nd Amendment, the parties
to that certain Subscription Agreement dated January 25, 2024 among Fusemachines, the Company, the Sponsor and an affiliate of the Sponsor
(the “Subscription Agreement”), entered into an amendment to the Subscription Agreement to revise the PIPE Investment Amount
to $8,840,000 (the “Subscription Agreement Amendment”).

Results of Operations

Our entire activity from inception through June 30, 2025 relates to
our formation, the Initial Public Offering and, since the closing of the Initial Public Offering, a search for a Business Combination
candidate. We will not be generating any operating revenues until the closing and completion of our Business Combination at the earliest.

For the three months ended June 30, 2025, we had a net loss of $203,872,
which consisted of $206,051 of legal and accounting expenses, $44,656 of insurance expense, $56,070 of dues and subscriptions expense,
$30,000 of administrative expense