Company: CSLMF
Filing Date: 2025-09-19
Form Type: PRE 14A
Source: 0001213900-25-089554
Chunk: 38

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-09-19
Form: PRE 14A
Chunk 38
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 company upon completion of a business combination. In addition,
the Target for the Business Combination is a US company with US management. For these reasons, we believe that CSLM should not be considered
a “foreign person” under the regulations administered by CFIUS and should not be considered as such in the future. However,
the Proposed Business Combination with a U.S. business may be subject to CFIUS review, the scope of which was expanded by the Foreign
Investment Risk Review Modernization Act of 2018 (“FIRRMA”), to include certain non-passive non-controlling investments
in sensitive U.S. businesses and certain acquisitions of real estate even with no underlying U.S. business. FIRRMA, and subsequent implementing
regulations that are now in force, also subjects certain categories of investments to mandatory filings. If CSLM’s potential initial
business combination with a U.S. business falls within CFIUS’s jurisdiction, CSLM may determine that it is required to make a mandatory
filing or that it will submit a voluntary notice to CFIUS, or to proceed with the initial business combination without notifying CFIUS
and risk CFIUS intervention, before or after closing the initial business combination. CFIUS may decide to block or delay CSLM’s
initial business combination, impose conditions to mitigate national security concerns with respect to such initial business combination
or order CSLM to divest all or a portion of a U.S. business of the combined company without first obtaining CFIUS clearance, which may
limit the attractiveness of or prevent CSLM from pursuing certain initial business combination opportunities that it believes would otherwise
be beneficial to CSLM and its shareholders. As a result, the pool of potential targets with which CSLM could complete the Proposed Business
Combination may be limited and it may be adversely affected in terms of competing with other special purpose acquisition companies which
do not have similar foreign ownership issues.

Moreover, the process of government
review, whether by the CFIUS or otherwise, could be lengthy and CSLM has limited time to complete its initial business combination. If
CSLM cannot complete its initial business combination by October 18, 2025 (a later date if CSLM extends the timeline to complete its
initial business combination) because the review process drags on beyond such timeframe or because CSLM’s initial business combination
is ultimately prohibited by CFIUS or another U.S. government entity, CSLM may be required to liquidate. If CSLM liquidates,