Company: KOYNU
Filing Date: 2025-08-12
Form Type: S-1/A
Source: 0001829126-25-006117
Chunk: 184

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-08-12
Form: S-1/A
Chunk 184
---
 meaning of Nasdaq’s corporate governance standards. Under Nasdaq corporate governance standards, a company of which more than 50% of the voting power for the election of directors is held by an individual, a group or another company is a “controlled company” and may elect not to comply with certain corporate governance requirements, including the requirements that:

| ● | we have a board that includes a majority of “independent directors,” as defined under Nasdaq rules; |

| ● | we have a compensation committee of our board that is comprised entirely of independent directors with a written charter addressing the committee’s purpose and responsibilities; and |

| ● | we have independent director oversight of our director nominations. |

We do not intend to utilize these exemptions and intend to comply with the corporate governance requirements of Nasdaq, subject to applicable phase-in rules. However, if we determine in the future to utilize some or all of these exemptions, you will not have the same protections afforded to shareholders of companies that are subject to all of Nasdaq’s corporate governance requirements.

<div align='center'>99</div>

Because our Sponsor (and pursuant to the Securities Transfer Agreement, each of the Company’s director nominees, Christopher Bradley, Brian Rudick, Mathew August, Danel Calvillo Armendariz and Dr. Jim Kyung Soo Liew) paid an aggregate of $25,000, or $0.003 per founder share (assuming the full exercise of the over-allotment option), you will experience immediate and substantial dilution from the purchase of our public shares.

The difference between the public offering price per share (allocating the entire unit purchase price to the public shares and none to the warrants included in the public units) and the pro forma net tangible book value per public share after this offering constitutes the dilution to you and the other investors in this offering. Our Sponsor acquired the founder shares at a price of $0.003 per share, contributing to this dilution. In addition, our Sponsor and the underwriter in this offering, have committed, pursuant to a written agreement, to purchase an aggregate of 775,000 private units in a private placement (or 891,250 private units if the underwriter’s over-allotment option is exercised in full) at the price of $10.00 per private unit. Upon closing of this offering, you and the other public shareholders will incur an immediate and substantial dilution of approximately 107.09% (or $10.71 per share, assuming no exercise of the underwriter