Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 125

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 125
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 the registration statement of which this prospectus forms a part or a new registration
statement registration statement covering the issuance of such shares, and we will use our commercially reasonable efforts to cause
the same to become effective within 60 business days after the closing of our initial business combination and to maintain the
effectiveness of the same relating to those Class A ordinary shares until the warrants expire or are redeemed. We cannot assure you
that we will be able to do so if, for example, any facts or events arise which represent a fundamental change in the information set
forth in the registration statement or prospectus, the financial statements contained or incorporated by reference therein are not
current, complete or correct or the SEC issues a stop order. If the shares issuable upon exercise of the warrants are not registered
under the Securities Act in accordance with the above requirements, we will be required to permit holders to exercise their public
warrants on a cashless basis, in which case, the number of Class A ordinary shares that you will receive upon cashless exercise will
be equal to the quotient obtained by dividing (x) the product of the number of Class A ordinary shares underlying the public
warrants, multiplied by the excess of the “fair market value” (defined below) less the exercise price of the public
warrants by (y) the fair market value. The “fair market value” as used in the preceding sentence shall mean the volume
weighted average price of the Class A ordinary shares for the ten trading days ending on the trading day prior to the date on which
the notice of exercise is received by the warrant agent. However, no warrant will be exercisable for cash or on a cashless basis,
and we will not be obligated to issue any shares to holders seeking to exercise their warrants, unless the issuance of the shares
upon such exercise is registered or qualified under the securities laws of the state of the exercising holder, or an exemption from
registration is available. Notwithstanding the above, if our Class A ordinary shares are at the time of any exercise of a warrant
not listed on a national securities exchange such that they satisfy the definition of a “covered security” under
Section 18(b)(1) of the Securities Act, we may, at our option, require holders of public warrants who exercise their warrants
to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event we so
elect, we will not be required to file