Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 248

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 248
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, the initial per-share redemption price would be $10.05.
The proceeds deposited in the trust account could, however, become subject to claims of our creditors that are in preference to the claims
of public shareholders.

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Our public shareholders shall be entitled to receive funds from the trust account
only in the event of our failure to complete a business combination within the required
time period or if the shareholders seek to have us redeem or purchase their respective
shares upon a business combination which is actually completed by us or upon certain
amendments to our charter documents as described elsewhere herein. In no other circumstances
shall a shareholder have any right or interest of any kind to or in the trust account.

Our initial shareholders will not participate in any redemption distribution from
our trust account with respect to their founder shares and private shares. Additionally, any loans made by our officers, directors, Sponsors or their affiliates for working capital needs will be forgiven and not repaid if
we are unable to complete an initial business combination.

If we are forced to file a bankruptcy case or an involuntary bankruptcy case is filed
against us which is not dismissed, the proceeds held in the trust account could be
subject to applicable bankruptcy law, and may be included in our bankruptcy estate
and subject to the claims of third parties with priority over the claims of our shareholders.
To the extent any bankruptcy claims deplete the trust account, we cannot make any
assurance of the amount we will be able to return to our public shareholders.

If we are forced to
file a bankruptcy case or an involuntary bankruptcy case is filed against us which is not dismissed, any distributions received by shareholders
could be viewed under applicable debtor/creditor and/or bankruptcy laws as either a “preferential transfer” or a “fraudulent
conveyance.” As a result, a bankruptcy court could seek to recover all amounts received by our shareholders. Furthermore, because
we intend to distribute the proceeds held in the trust account to our public shareholders promptly after 24 months from the closing of
this offering, this may be viewed or interpreted as giving preference to our public shareholders over any potential creditors with respect
to access to or distributions from our assets. Furthermore, our Board of Directors may be viewed as having breached their fiduciary duties
to our creditors and/or may have acted in bad faith, and thereby exposing itself and our Company to claims of punitive damages, by paying
public shareholders from the trust account prior to addressing the claims of creditors