Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 247

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 247
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of any kind they may have in or to any monies held in the trust account. As a result,
the claims that could be made against us will be limited, thereby lessening the likelihood
that any claim would result in any liability extending to the trust. We therefore
believe that any necessary provision for creditors will be reduced and should not
have a significant impact on our ability to distribute the funds in the trust account
(net of taxes and less up to $100,000 for dissolution expenses) to our public shareholders.
Nevertheless, we cannot assure you of this fact as there is no guarantee that vendors,
service providers and prospective target businesses will execute such agreements.
If any third party refuses to execute an agreement waiving such claims to the monies
held in the trust account, our management will perform an analysis of the alternatives
available to it and will only enter into an agreement with a third party that has
not executed a waiver if management believes that such third party’s engagement would be significantly more beneficial to us than any alternative. Examples
of possible instances where we may engage a third party that refuses to execute a
waiver include the engagement of a third-party consultant whose particular expertise
or skills are believed by management to be significantly superior to those of other
consultants that would agree to execute a waiver or in cases where management is unable
to find a service provider willing to execute a waiver. Our underwriter and auditor
are the only third parties we are currently aware of that may not execute a waiver.
Nor is there any guarantee that, even if they execute such agreements with us, they
will not seek recourse against the trust account.

We anticipate notifying the trustee of the trust account to begin liquidating such
assets promptly after such date and anticipate it will take no more than ten (10) business days to effectuate such distribution. Our initial shareholders have waived
their rights to participate in any liquidation distribution with respect to the founder shares and private shares. There will be no distribution from the trust account with respect to our warrants,
which will expire worthless. We will pay the costs of any subsequent liquidation from
our remaining assets outside of the trust account and the interest earned on the funds
held in the trust account that we are permitted to withdraw to pay such expenses.

If we are unable to complete
an initial business combination and expend all of the net proceeds of this offering, other than the proceeds deposited in the trust account,
and without taking into account interest, if any, earned on the trust account