Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 222

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 222
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 industry which will be made available to us. If we determine
to move forward with a particular target, we will proceed to structure and negotiate the terms of the business combination transaction.

The time required to select
and evaluate a target business and to structure and complete our initial business combination, and the costs associated with this process,
are not currently ascertainable with any degree of certainty. Any costs incurred with respect to the identification and evaluation of,
and negotiation with, a prospective target business with which our initial business combination is not ultimately completed will result
in our incurring losses and will reduce the funds available for us to use to complete another business combination.

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Our ability to identify
and evaluate a target company may be impacted by significant competition among other SPACs in pursuing a business combination transaction
candidate and the significant competition may impact the attractiveness of the acquisition terms that we will be able to negotiate.

We have not selected any business combination target, and we have not, nor has anyone
on our behalf, initiated any substantive discussions, directly or indirectly, with
any business combination target.

Our Sponsor and directors and officers are, or may in the future become, affiliated with
entities that are engaged in a business similar to ours. These entities may compete
with us for acquisition opportunities. If these entities decide to pursue any such
opportunity, we may be precluded from pursuing such opportunities. Subject to his
or her fiduciary duties under Cayman Islands law, none of the members of our management
team have any obligation to present us with any opportunity for a potential business
combination of which they become aware. Our management team, in their capacities as
directors, officers or employees of our Sponsor or its affiliates or in their other endeavors (including other special purpose acquisition
companies), may choose to present potential business combinations to the related entities
described above, current or future entities affiliated with or managed by our Sponsor, or third parties, before they present such opportunities to us, subject to his or
her fiduciary duties under Cayman Islands law and any other applicable fiduciary duties.

Our directors and officers presently have, and any of them in the future may have,
additional, fiduciary or contractual obligations to other entities pursuant to which
such officer or director is or will be required to present a business combination
opportunity to such entity. Accordingly, if any of our directors or officers becomes
aware of a business combination opportunity that is suitable for an entity to which