Company: CSLMF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076682
Chunk: 143

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 143
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 used as working capital to finance
the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.

We intend to use the funds held outside the Trust Account primarily
to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices,
plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material
agreements of prospective target businesses, and structure, negotiate and complete an Initial Business Combination.

In order to fund working capital deficiencies or finance transaction
costs in connection with an Initial Business Combination, our Sponsor or an affiliate of our Sponsor or certain of our officers and directors
may, but are not obligated to, loan us funds as may be required. If we complete an Initial Business Combination, we may repay such loaned
amounts out of the proceeds of the Trust Account released to us. In the event that an Initial Business Combination does not close, we
may use a portion of the working capital held outside the Trust Account to repay such loaned amounts, but no proceeds from our Trust Account
would be used for such repayment. Up to $2,000,000 of such loans may be convertible into warrants, at a price of $1.00 per warrant, at
the option of the lender. The warrants would be identical to the Private Placement Warrants.

22

Merger Agreement

On January 22, 2024, the Company entered into a Merger Agreement, by
and among the Company, CSLM Merger Sub Inc. (“Merger Sub”), and Fusemachines Inc., a Delaware corporation (“Fusemachines”)
(as it may be amended and/or restated from time to time, the “Merger Agreement”). The Merger Agreement provides that, among
other things and upon the terms and subject to the conditions thereof, Merger Sub will merge with and into Fusemachines, after which Fusemachines
will be the surviving corporation and a wholly owned subsidiary of the Company.

On August 27, 2024, the Company entered into an amendment to the Merger
Agreement (the “Merger Agreement Amendment”) whereby the Company will continue out of the Cayman Islands and into the State
of Delaware to re-domicile and become a newly formed Delaware corporation by means of a merger with the Company, pursuant to the Cayman
Islands Companies law and the applicable provisions of the Delaware General Corporation Law, with such newly formed Delaware corporation
becoming the surviving corporation