Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 204

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 204
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 the investments held
in the trust account and instead to hold the funds in the trust account in cash or in an interest bearing demand deposit account at a
bank. The remaining approximately $2,050,000 (or $1,712,250 if the underwriter’s over-allotment option is exercised in full) will
not be held in the trust account. In the event that our offering expenses exceed our estimate of $700,000, we may fund such excess with
funds not to be held in the trust account. In such case, the amount of funds we intend to be held outside the trust account would decrease
by a corresponding amount. Conversely, in the event that the offering expenses are less than our estimate of $700,000, the amount of
funds we intend to be held outside the trust account would increase by a corresponding amount.

We may withdraw interest to pay our taxes, if any. We expect the interest earned on
the amount in the trust account will be sufficient to pay our income taxes. To the
extent that our equity or debt is used, in whole or in part, as consideration to complete
our initial business combination, the remaining proceeds held in the trust account
will be used as working capital to finance the operations of the target business or
businesses, make other acquisitions and pursue our growth strategies.

<div align='center'>117</div>

We believe that, upon consummation of this offering, the estimated $2,050,000 of cash not held in the trust account will be sufficient to allow us to operate for
at least the next 24 months from the closing of this offering, assuming that a business combination is
not consummated during that time. Over this time period, we will be using these funds
for identifying and evaluating prospective acquisition candidates, performing business
due diligence on prospective target businesses, traveling to and from the offices,
plants or similar locations of prospective target businesses, reviewing corporate
documents and material agreements of prospective target businesses, selecting the
target business to acquire and structuring, negotiating and consummating the business
combination. We anticipate that we will incur the following approximate expenses to be paid from the $2,050,000 not held in the trust account (assuming that no over-allotment option has been exercised:

| ● | $400,000 of expenses for the legal, accounting and other third-party                       
 expenses attendant to the structuring and negotiating of our initial business combination; |

| ● | $150,000 of