Company: CSLMF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076682
Chunk: 79

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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 to July 12, 2025.

On February 4, 2025, in connection with the 2nd Amendment, the parties
to that certain Subscription Agreement dated January 25, 2024 among Fusemachines, the Company, the Sponsor and an affiliate of the Sponsor
(the “Subscription Agreement”), entered into an amendment to the Subscription Agreement to revise the PIPE Investment Amount
to $8,840,000 (the “Subscription Agreement Amendment”).

Risks and Uncertainties

Results of operations and the Company’s ability to complete an
Initial Business Combination may be adversely affected by various factors that could cause economic uncertainty and volatility in the
financial markets, many of which are beyond its control. The business could be impacted by, among other things, downturns in the financial
markets or in economic conditions, inflation, increases in interest rates, adverse developments affecting the financial services industry,
and geopolitical instability, such as the military conflict in the Ukraine and the middle east.

Any of the foregoing consequences, including those we cannot yet predict,
may cause our business, financial condition, results of operations and the price of our ordinary shares to be adversely affected. The
Financial Statements do not include any adjustments that might result from the outcome of this uncertainty.

Going Concern Consideration

As of June 30, 2025 and December 31, 2024, the Company had $14,041
and $83,227 in cash, respectively, and a working capital deficit of $4,958,706 and $4,056,679, respectively, excluding Marketing Securities
held in the Trust Account and the Deferred Underwriter Fee liability.

The Company’s liquidity needs through June 30, 2025 had been
satisfied through a payment from the Sponsor of $25,000 for Class B ordinary shares, par value $0.0001 per share (“Class B ordinary
shares” and shares thereof, “founder shares”), the Initial Public Offering and the sale of the private placement warrants
(see Note 3 and Note 4). Additionally, the Company drew on an unsecured promissory note to pay certain offering costs and an unsecured
promissory note bearing interest at 4.75% per annum for working capital needs.

The Company has incurred and expects to continue to incur significant
costs in pursuit of its financing and acquisition plans. These conditions raise substantial doubt about the Company’s ability to
continue as a going concern for a period within one year after the date that the Financial