Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 293

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 293
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 the extent that after giving effect to such exercise, such person (together with such person’s affiliates), to the
warrant agent’s actual knowledge, would beneficially own in excess of 4.9% or 9.8% (or such other amount as a holder may specify)
of the shares outstanding immediately after giving effect to such exercise.

The warrants will be issued in registered form under a warrant agreement between Continental
Stock Transfer & Trust Company, as warrant agent, and us. You should review a copy of the warrant
agreement, which will be filed as an exhibit to the registration statement of which
this prospectus is a part, for a complete description of the terms and conditions
applicable to the warrants. The warrant agreement will provide that the terms of the
warrants may be amended without the consent of any holder to cure any ambiguity or
correct any defective provision, but requires the approval by the holders of at least
50% of the then outstanding public warrants to make any change that adversely affects
the interests of the registered holders of public warrants.

The exercise price and number of warrant shares issuable on exercise of the warrants
may be adjusted in certain circumstances including in the event of a stock dividend,
extraordinary dividend or our recapitalization, reorganization, merger or consolidation.
However, except as described below, the warrants will not be adjusted for issuances
of Class A ordinary shares at a price below their respective exercise prices.

If (x) we issue additional
ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of our initial business combination
at an issue price or effective issue price of less than $9.20 per share (with such issue price or effective issue price to be determined
in good faith by our Board of Directors, and in the case of any such issuance to our Sponsor or its affiliates, without taking into account
any founder shares held by them prior to such issuance), (y) the aggregate gross proceeds from such issuances represent more than 60%
of the total equity proceeds, and interest thereon, available for the funding of our initial business combination on the date of the
consummation of our initial business combination (net of redemptions), and (z) the Market Value is below $9.20 per share, the exercise
price of the warrants will be adjusted (to the nearest cent) to be equal to 180% of the greater of (i) the Market Value or (ii) the price
at which