Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 237

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 237
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 public company, we offer target businesses an alternative
to the traditional initial public offering through a merger, share exchange, asset
acquisition, share purchase, reorganization or similar business combination. In this
situation, the owners of the target business would exchange their capital stock, shares
or other equity securities in the target business for our shares or for a combination
of our shares and cash, allowing us to tailor the consideration to the specific needs
of the sellers. Although there are various costs and obligations associated with being
a public company, we believe target businesses will find this method a more certain
and cost effective method to becoming a public company than the typical initial public
offering. In a typical initial public offering, there are additional expenses incurred
in marketing, road show and public reporting efforts that may not be present to the
same extent in connection with a business combination with us.

Furthermore, once a proposed business combination is completed, the target business
will have effectively become public, whereas an initial public offering is always
subject to the underwriter’s ability to complete the offering, as well as general market conditions, which could
delay or prevent the offering from occurring. Once public, we believe the target business
would then have greater access to capital and an additional means of providing management
incentives consistent with shareholders’ interests. It can offer further benefits by augmenting a company’s profile among potential new customers and vendors and aid in attracting talented
employees.

We are an “emerging growth company,” as defined in the JOBS Act. We will remain an
emerging growth company until the earlier of (1) the last day of the fiscal year (a)
following the fifth anniversary of the completion of this offering, (b) in which we
have total annual gross revenue of at least $1.07 billion, or (c) in which we are deemed to be a large accelerated filer, which means
the market value of our ordinary shares that is held by non-affiliates equals or exceeds $700 million as of the end of that year’s second fiscal quarter, and (2) the date on which we have issued more than $1.00 billion in non-convertible debt securities during the prior three-year period. References herein to “emerging growth company” will have the meaning associated
with it in the JOBS Act.

Additionally, we are a “smaller reporting company” as defined in Item 10(f)(1) of
Regulation S-K. Smaller reporting