Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 342

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 342
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to report specified foreign financial assets and fail to do so may be subject to substantial penalties, and the period of limitations
on assessment and collection of United States federal income taxes may be extended in the event of a failure to comply. Potential investors
are urged to consult their tax advisors regarding the foreign financial asset and other reporting obligations and their application to
an investment in our units, Class A ordinary shares, warrants and rights.

INVESTORS CONSIDERING THE PURCHASE OF OUR SECURITIES ARE URGED TO CONSULT WITH AND RELY SOLELY UPON THEIR OWN TAX ADVISORS REGARDING THE APPLICATION OF THE U.S. FEDERAL INCOME TAX LAWS TO THEIR PARTICULAR SITUATIONS AND THE APPLICABILITY AND EFFECT OF ANY OTHER TAX LAWS, INCLUDING BUT NOT LIMITED TO U.S. FEDERAL ESTATE AND GIFT TAX LAWS AND ANY STATE, LOCAL OR NON-U.S. TAX LAWS AND TAX TREATIES.

<div align='center'>200</div>

<div align='center'>UNDERWRITING</div>

We are offering the units described in this prospectus through the underwriter named
below. We will enter into an underwriting agreement with Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC. Subject to the terms and conditions of the underwriting agreement, the underwriter
will agree to purchase, and we will agree to sell to the underwriter, the number of
public units listed next to each name in the following table.

| Underwriter                                                                |     | Number of 
 Units     |            |
| Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC |     |           |            |
| Total                                                                      |     |           | 20,000,000 |

The underwriting agreement provides that the underwriter must buy all of the public units if it buys any of them. However, the underwriter is not required to purchase
the units covered by the underwriter’s option to purchase additional units as described below. The underwriter may offer
and sell the units through certain of its affiliates or other registered broker-dealers
or selling agents.

Our public units are offered hereby subject to a number of conditions, including:

| ● | receipt and acceptance of such units by the underwriter; and |

| ● | the underwriter’s right to reject orders in whole or in part. |

In connection with this offering, the underwriter or securities dealers may distribute
prospectuses electronically.