Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 213

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 213
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 Fusemachines or prior to its decision to focus exclusively on the business combination with Fusemachines. In January, 2022, CSLM began discussion with a target company in the fintech and microfinance industry in the MENA region, which we refer to as Company A. CSLM conducted in-depth management meetings and a site visit along with financial and industry due diligence on Company A. Company A’s capital plan required a significant amount of capital to fund expansion of its lending operations and to fund an acquisition strategy. These amounts of capital added both transactional risk as well as long term operational risk for the Company. Due to a difference of expectations on valuation, CSLM decided not to pursue the Company A opportunity. During the course of this process, the management team of CSLM kept the members of the CSLM Board apprised of the various target businesses, the discussions with such businesses during periods when exclusivity restrictions had lapsed, and the status thereof to discuss material issues as they arose. 118

In May, 2022, CSLM began discussions with a target company in the media industry in Southeast Asia, which we refer to as Company B. CSLM conducted in-depth management meetings and site visits along with financial and industry due diligence on Company B. CSLM and its consultant and advisors began to conduct due diligence on Company B. Company B’s capital plan required a significant amount of capital raised to acquire content licenses and to expand into neighboring countries. This amount of capital added both transactional risk as well as long term operational risk for this business. Business combination discussions ultimately failed due to disagreements on the suitability of becoming a public company via a reverse merger with a SPAC as well as misalignment on transaction terms. During the course of this process, the management team of CSLM kept the members of the CSLM Board apprised of the various target businesses, the discussions with such businesses during periods when exclusivity restrictions had lapsed, and the status thereof to discuss material issues as they arose. On October 13, 2022, CSLM was introduced to CEMAC Sponsor L.P. by CSLM’s financial advisor, and an independent contractor known to the Sponsor, Capitalworks Investment Partners International Limited (referred to as “CWEM”) as a source of potential cooperation on mutual target companies. On October 19, 2022, CSLM and CEMAC executed a mutual non-disclosure agreement that gave CSLM access to confidential information on targets with whom CEMAC was already engaged. Throughout October and