Company: KOYNU
Filing Date: 2025-07-08
Form Type: S-1/A
Source: 0001829126-25-004923
Chunk: 6

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-08
Form: S-1/A
Chunk 6
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 deferred underwriting commissions on units purchased by the non-managing Sponsor investors, if any, as it will on the other units sold to the public in this offering. In addition, none of the non-managing Sponsor investors has any obligation to vote any of their public shares in favor of our initial business combination. However, the non-managing sponsor investors will have different interests than our other public shareholders in approving our initial business combination and otherwise exercising their rights as public shareholders because of their indirect ownership through the Sponsor of founder shares and private units. Such ownership may create an incentive for the non-managing investors to vote any shares they own in favor of a business combination and make a substantial profit on its founder shares and private units, even if the business combination is with a target that ultimately declines in value and is not profitable for other public shareholders.

For a discussion of certain additional arrangements with the non-managing Sponsor investors, See “Summary — The Offering — Expressions of Interest.”

Our Sponsor has purchased an aggregate of 7,666,667 Class B ordinary shares for an aggregate of $25,000 or approximately $0.003 per share, up to 1,000,000 of which will be surrendered to us for no consideration after the closing of this offering depending on the extent to which the underwriter’s over-allotment option is exercised, which will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of our initial business combination, or earlier at the option of the holders thereof on a one-for-one basis, subject to the adjustments described herein. Such securities were issued in connection with our organization pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act. The number of founder shares outstanding was determined based on the expectation that the total size of this offering would be a maximum of 23,000,000 units if the underwriter’s over-allotment option is exercised in full and therefore that such founder shares would represent 25% of the outstanding shares after this offering (excluding any shares underlying the private units). If we increase or decrease the size of the offering, we will effect a share capitalization or a share repurchase or redemption or other appropriate mechanism, as applicable, with respect to our Class B ordinary shares immediately prior to the consummation of the offering in such amount as to maintain the ownership of founder shares by our initial shareholders, on an as-converted basis, at 25% of our issued and outstanding ordinary shares upon the consummation of this offering