Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 292

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 292
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 become redeemable by us, we may exercise
our redemption right even if we are unable to register or qualify the underlying securities
for sale under all applicable state securities laws.

If the foregoing conditions are satisfied and we issue a notice of redemption, each
warrant holder may exercise his, her or its warrants prior to the scheduled redemption
date. However, the price of the public shares may fall below the $18.00 trigger price
(as adjusted) as well as the $12.00 exercise price (as adjusted) after the redemption notice is issued.

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The redemption criteria for our warrants have been conditioned on a share price which
is intended to provide warrant holders a reasonable premium to the initial exercise
price and provide a sufficient differential between the then-prevailing share price
and the exercise price so that if the share price declines as a result of our redemption
call, the redemption will not cause the share price to drop below the exercise price
of the warrants.

If we call the warrants for redemption as described above, our management will have
the option to require all holders that wish to exercise warrants to do so on a “cashless
basis.” In making such determination, our management will consider, among other factors,
our cash position, the number of warrants that are outstanding and the dilutive effect
on our shareholders of issuing the maximum number of warrant shares issuable upon
exercise of outstanding warrants. In such event, the holder would pay the 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 warrant shares underlying the warrants to be so exercised,
and the difference between the exercise price of the warrants and the fair market
value by (y) the fair market value. The “fair market value” shall mean the average reported last
sale price of the public shares for the ten trading days ending on the third trading
day prior to the date on which the notice of redemption is sent to the holders of
warrants. No fractional shares will be issued upon redemption. If, upon redemption,
a holder would be entitled to receive a fractional interest in a share, we will round
down to the nearest whole number of the number of Class A ordinary shares to be issued to the holder.

A holder of a warrant
may notify us in writing in the event it elects to be subject to a requirement that such holder will not have the right to exercise such
warrant, to