Company: KOYNU
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001829126-25-009093
Chunk: 31

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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    Risk-free rate

    3.92
    %
  
    Estimated implied volatility

    2.20
    %
  
    Calculated value per warrant
     
    $
    0.24

    Market adjustment

    42.63
    %

The fair value of the Class B ordinary shares is $5.59 per ordinary share on July 25, 2025, the grant date of the 100,000 Class B ordinary shares transferred to the Company’s directors. The fair value of the Class B ordinary shares was determined by applying a discount for lack of marketability (“DLOM”) to the underlying stock price of a Class A ordinary share, adjusted for the estimated probability of a successful initial Business Combination. The following table presents the quantitative information regarding market assumptions used in the valuation of the Class B ordinary shares:

    Schedule of fair value assumptions

    July 25,2025

    Underlying stock price
     
    $
    9.80

    Estimated probability of an initial Business Combination

    65.00
    %
  
    Estimated volatility

    27.50
    %
  
    Risk-free rate

    3.89
    %
  
    Time to expiration

    2.50

    20

Note 10 — Subsequent Events

The
Company evaluated subsequent events and transactions that occurred after the balance sheet date through the date that the financial
statements are issued. Based upon this review, the Company did not identify any subsequent events that would have
required adjustment or disclosure in the financial statements.

21

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Unless otherwise stated or the context otherwise requires, references in this quarterly report to (i) the “Company,” “us,” or “we” are to CSLM Digital Acquisition Corp. III, Ltd, a Cayman Islands exempted company; (ii) “founder shares” are to shares of our Class B ordinary shares initially purchased by our Sponsor in a private placement prior to our Initial Public Offering, and the shares of our Class A ordinary shares issued upon the conversion thereof; and (iii) “Sponsor” are to CSLM Acquisition Sponsor II, Ltd, a Delaware limited liability company. The following discussion and analysis of the Company’s financial condition and results of operations should be read in conjunction with the financial statements and the notes thereto contained elsewhere in this report. Certain information contained in the discussion and analysis set forth below includes