Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 600

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 600
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 Note,
along with any accrued interest, was settled, and the vested shares pledged under the 2023 Promissory Notes are now considered exercised. As of the date, the 2023 Promissory Note was repaid and 7,917 shares remain subject to vesting. Pursuant to the
settlement, $3.64 thousand was recorded as a deposit liability in the consolidated balance sheets in accrued expenses and other current liabilities, until the stock vests. As the shares vest, the amounts are reclassified to additional paid-in capital in the consolidated balance sheets.

Forgiveness of Promissory Notes

In August 2024, the Company’s board of directors approved the forgiveness of the 2023 Promissory Notes totaling $262.2 thousand
(excluding interest) for three of its executives. The forgiveness of these 2023 Promissory Notes effectively modified the strike price to zero, allowing the executives to retain shares at no cost.

F-87

In accordance with ASC 718, the incremental value of the modification was calculated as the difference between the fair value of the modified award and the fair value of the original award immediately before the modification. As of December 31, 2024, the Company recognized $227.2 thousand in stock-based compensation expense related to this modification. Note 17. Net Loss Per Share Basic and diluted net loss per share attributable to common stockholders was calculated as follows (in thousands except for share and per share amounts):

|                                                                                      |     | Year Ended December 31, 
 2024                    |            |   |     | 2023 |           |   |
|:-------------------------------------------------------------------------------------|:----|:------------------------|-----------:|:--|:----|:-----|----------:|:--|
| Numerator:                                                                           |     |                         |            |   |     |      |           |   |
| Net loss                                                                             |     |                         |    (15,383 | ) |     |      |    (6,762 | ) |
| Denominator:                                                                         |     |                         |            |   |     |      |           |   |
| Weighted-average common shares outstanding - basic and diluted                       |     |                         | 10,574,934 |   |     |      | 9,220,534 |   |
| Net loss per share attributable to Fusemachines Inc. common stockholders - basic and 
 diluted                                                                              |     |                         |      (1.45 | ) |     |      |