Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 344

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 344
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 Rule 5110(e)(2). The private units will also be subject to limitations on
registration in FINRA Rule 5110(g)(8).

<div align='center'>201</div>

Underwriting Discount

Units sold by the underwriter to the public will initially be offered at the initial
offering price set forth on the cover of this prospectus. Any units sold by the underwriter
to securities dealers may be sold at a discount of up to $10.00 per unit from the
IPO price. Sales of units made outside of the United States may be made by affiliates
of the underwriter. After the initial public offering, if all the units are not sold
at the IPO price, the underwriter may change the offering price and the other selling
terms. Upon execution of the underwriting agreement, the underwriter will be obligated
to purchase the public units at the prices and upon the terms stated therein.

The following table
shows the per unit and total underwriting discount we will pay to the underwriter assuming both no exercise and full exercise of the
underwriter’s option to purchase up to 3,000,000 additional units.

|                    |     | No Exercise |            |     | Full Exercise |            |
|:-------------------|:----|:------------|-----------:|:----|:--------------|-----------:|
| Per Public Unit(1) |     | $           |       0.60 |     | $             |       0.60 |
| Total              |     | $           | 12,000,000 |     | $             | 13,800,000 |

| (1) | $0.20 per                                                                                                                            
 unit, or $4,000,000 in the aggregate (or $4,600,000 in the aggregate if the underwriter’s option to purchase additional units        
 is exercised in full), is payable to the underwriter upon the closing of this offering. The underwriter has committed to using       
 $2,750,000 of such funds to purchase from us 275,000 private units (or 316,250 private units if the over-allotment option is         
 exercised in full) at $10.00 per unit. $0.40 per unit, or up to $8,000,000 in the aggregate (or up to $9,600,000 in the aggregate if 
 the underwriter’s option to purchase additional public units is exercised in full), payable to the underwriter for