Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 651

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 651
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 Business Combination. As of March 31, 2025, no funds had been deposited into escrow and the closing conditions
had not been met. If the Merger Agreement is terminated, the proceeds will be returned to the holder. Subsequent to year end, funds have been deposited into escrow, refer Note 19 - Subsequent Events.

Further, per Section 4.2 of the Escrow Agreement “Upon the Closing, the Company, Investor and Fusemachines shall jointly deliver a
Joint Release Notice to the Escrow Agent directing the Escrow Agent to disburse to the Pubco all of the Funds in the Escrow Account.” Accordingly, the escrowed funds are not freely available to the Pubco prior to joint instruction by the
Investor, Fusemachines, and the Company.

As the funds had not been received in escrow as of March 31, 2025 and the release of
proceeds is contingent upon the occurrence of the Business Combination, an event not wholly within the control of the Company, the same has not been recognized in the financial statements as of March 31, 2025.

Note 10 - Convertible Preferred Stock

Effective February 2023, the Company amended the Third Amended and Restated Certificate of Incorporation of Fusemachines Inc. (the
“Restated Certificate”) to increase the number of shares of series seed preferred stock (“Convertible Preferred Stock”) that the Company is authorized to issue from 9,038,725 to 9,076,734 (including 5,441 authorized shares of
preferred stock not assigned to a particular series) and increase the authorized shares of series seed-2 preferred stock (“Series Seed-2 Convertible Preferred
Stock”).

F-128

The authorized, issued and outstanding shares of the Convertible Preferred Stock, liquidation preferences and carrying values as of March 31, 2025 and December 31, 2024 were as follows (in thousands, except share numbers):

|        |     | As of March 31, 2025 and December 31, 2024 |           |     |                    |           |     |             |       |     |                |       |
|:-------|:----|:-------------------------------------------|----------:|:----|:-------------------|----------:|:----|:------------|------:|:----|:---------------|------:|
| Series |     | Authorized Shares                          |           |     | Issued and         
 Outstanding Shares