Company: CSLMF
Filing Date: 2025-06-24
Form Type: DEF 14A
Source: 0001193125-25-144883
Chunk: 37

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-06-24
Form: DEF 14A
Chunk 37
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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 July18, 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, based on the Trust Account balance as of June 20, 2025, CSLM’s
public shareholders may only receive approximately $12.06 per Ordinary Share, and the warrants and rights will expire worthless. This will also cause shareholders to lose the investment opportunity in a target company and the chance of realizing
future gains on their investment through any price appreciation in the combined company.

20

Risks Related to Being Deemed an Investment Company

If we were deemed to be an investment company for purposes of the Investment Company Act of 1940, as amended (the “Investment Company
Act”), we may be forced to abandon our efforts to complete the Proposed Business Combination and instead be required to liquidate the Company.

There is currently uncertainty concerning the applicability of the Investment Company Act to a special purpose acquisition company
(“SPAC”) and we may in the future be subject to a claim that we have been operating as an unregistered investment company. If we are deemed to be an investment company for purposes of the Investment Company Act, we might be forced to
abandon our efforts to complete the Proposed Business Combination and instead be required to liquid