Company: KOYNU
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001829126-25-009093
Chunk: 55

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 55
---
 a shareholder vote or tender offer in connection with the Company’s initial Business Combination. In accordance with ASC 480-10-S99, the Company classifies Public Shares subject to possible redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company. The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of redeemable shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption value. The change in the carrying value of redeemable shares will result in charges against additional paid-in capital (to the extent available) and accumulated deficit. Accordingly, as of September 30, 2025, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ deficit section of the Company’s balance sheet. As of September 30, 2025, the Class A ordinary shares subject to possible redemption reflected in the balance sheet are reconciled in the following table:

    Schedule of Class A ordinary shares subject to possible redemption

    Gross proceeds from Initial Public Offering
     
    $
    230,000,000

    Less:

    Proceeds allocated to public warrants

    (5,152,349
    )
  
    Offering costs allocated to Class A ordinary shares subject to possible redemption

    (13,905,206
    )
  
    Offering costs allocated to Public Warrants

    (340,189
    )
  
    Plus:

    Accretion of Class A ordinary shares subject to possible redemption

    20,274,401

    Class A ordinary shares subject to possible redemption at September 30, 2025
     
    $
    230,876,657

Net Income (Loss) Per Ordinary Share

The statements of operations include a presentation of income (loss) per Class A redeemable ordinary shares and income (loss) per non-redeemable Class A and Class B ordinary shares following the two-class method of income per common stock. In order to determine the net income (loss) attributable to both the Class A redeemable ordinary shares and non-redeemable Class A and Class B ordinary shares, the Company first considered the total income (loss) allocable to both sets of stock. This is calculated using the total net income (loss) less any dividends paid. For purposes of calculating net income (loss) per share, any remeasurement of