Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 219

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 219
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3, as amended on January 18, 2024, for working capital, allowing the Company to borrow up to $2,000,000. The 2nd A&R Note is unsecured, increases the amount the Company
may borrow to $2,750,000, bears interest at a rate of 4.75% per annum, and is payable on the earlier to occur of (i) the date by which the Company has to complete a business combination or (ii) the effective date of a business combination.

On August 22, 2024, the parties updated the amendment to the Merger Agreement to account for the increase in the 2nd A&R Note, and an
updated draft of the amendment to the Merger Agreement (“First Amendment to the Merger Agreement”).

On August 27, 2024, the
parties signed the First Amendment to the Merger Agreement.

On January 15, 2025, CSLM received a Notice from Nasdaq stating that
CSLM did not comply with Nasdaq Interpretive Material IM-5101-2, because the Business Combination was not consummated by January 12, 2025,

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36 months after the effective date of its IPO, and that its securities were subject to delisting. CSLM’s securities were suspended from trading on Nasdaq at the opening of business on
January 22, 2025, and began trading on the OTC.

In January 2025, FUSE and CSLM management discussed the timing of consummating the
Business Combination, which was taking longer than expected, the need additional financing, and the late fees incurred in connection with the production of FUSE financial statements. An affiliate of the Sponsor, which affiliate would also fund the
PIPE (the “Sponsor Affiliate”) agreed to provide the additional financing to FUSE. In consideration, the investor would convert the new note into FUSE shares of common stock at the time of the Business Combination at $0.44 per
share. The parties also concluded that it would be in the best interests of the post Business Combination business to also increase the size of the PIPE investment from $8,240,000 to $8,840,000, and to forgo the late fees incurred by FUSE, and the
Sponsor’s Convertible Notes that came due in January, 2025, should also be extended to allow for additional time to complete the Business Combination. The parties also agreed that it would be in