Company: CGCT
Filing Date: 2025-03-21
Form Type: S-1/A
Source: 0001104659-25-026623
Chunk: 142

Company: Cartesian Growth Corp III
Filing Date: 2025-03-21
Form: S-1/A
Chunk 142
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securities laws.

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You may only be able to exercise your public warrants on a “cashless basis” under certain circumstances, and if you do so, you will receive fewer Class A ordinary shares from such exercise than if you were to exercise such warrants for cash.

The warrant agreement provides that in the following
circumstances holders of warrants who seek to exercise their warrants will not be permitted to do for cash and will, instead, be required
to do so on a cashless basis in accordance with Section 3(a)(9) of the Securities Act: (i) if the Class A ordinary
shares issuable upon exercise of the warrants are not registered under the Securities Act in accordance with the terms of the warrant
agreement; (ii) if we have so elected and the Class A ordinary shares are at the time of any exercise of a warrant not listed
on a national securities exchange such that they satisfy the definition of “covered securities” under Section 18(b)(1) of
the Securities Act; and (iii) if we have so elected and we call the public warrants for redemption.

If you exercise your public warrants on a cashless
basis, you would pay the warrant exercise price by surrendering the warrants for that number of Class A ordinary shares equal to
the quotient obtained by dividing (x) the product of the number of Class A ordinary shares underlying the warrants, multiplied
by the excess of the “fair market value” of our Class A ordinary shares (as defined in the next sentence) over the exercise
price of the warrants by (y) the fair market value. The “fair market value” is the average closing price of our Class A
ordinary shares for the 10 trading days ending on the third trading day prior to the date on which the notice of
exercise is received by the warrant agent or on which the notice of redemption is sent to the holders of warrants, as applicable. As
a result, you would receive fewer Class A ordinary shares from such exercise than if you were to exercise such warrants for cash.

The grant of registration rights to holders of our founder shares, private placement warrants and private placement-equivalent warrants that may be issued upon conversion of working capital loans, if any, and their respective permitted transferees, may make it more difficult to complete our initial business combination, and the future exercise of such rights may adversely affect the market price of our Class A ordinary shares.

Pursuant to a registration rights agreement to