Company: KOYNU
Filing Date: 2025-07-31
Form Type: S-1/A
Source: 0001829126-25-005627
Chunk: 322

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-31
Form: S-1/A
Chunk 322
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 sale price of our Class A ordinary shares equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, 
 recapitalizations and the like) for any 20 trading days within a 30-trading day period ending on the third trading day prior to the           
 date on which we send the notice of redemption to the warrant holders.                                                                        |

We will not redeem the warrants
unless a registration statement under the Securities Act covering the issuance of the warrant shares underlying the warrants to be so
redeemed is then effective and a current prospectus relating to those warrant shares is available throughout the 30-day redemption period,
except if the warrants may be exercised on a cashless basis and such cashless exercise is exempt from registration under the Securities
Act. If and when the warrants 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