Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 151

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 151
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 will not
consider any transaction that does not meet such criteria. Even if the post-transaction company owns 50% or more of the voting securities
of the target, our shareholders prior to our initial business combination may collectively own a minority interest in the post business
combination company, depending on valuations ascribed to the target and us in our initial business combination transaction. For example,
we could pursue a transaction in which we issue a substantial number of new ordinary shares in exchange for all of the issued and outstanding
capital stock, shares or other equity securities of a target, or issue a substantial number of new shares to third parties in connection
with financing our initial business combination. In this case, we would acquire a 100% interest in the target. However, as a result of
the issuance of a substantial number of new ordinary shares, our shareholders immediately prior to such transaction could own less than
a majority of our issued and outstanding ordinary shares subsequent to such transaction. In addition, other minority shareholders may
subsequently combine their holdings resulting in a single person or group obtaining a larger share of the Company’s shares than
we initially acquired. Accordingly, this may make it more likely that our management will not be able to maintain our control of the target
business.

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Our initial shareholders will control the appointment and the removal of our board of directors until consummation of our initial business combination and will hold a substantial interest in us. As a result, they will appoint all of our directors prior to our initial business combination and may exert a substantial influence on actions requiring shareholder vote, potentially in a manner that you do not support.

Upon the closing of this offering, our initial shareholders will own 25% of our issued and outstanding ordinary shares (assuming they do not purchase any units in this offering and excluding any shares underlying the private units). In addition, prior to our initial business combination, holders of the founder shares will have the right to appoint all of our directors and may remove members of the board of directors for any reason. Holders of our public shares will have no right to vote on the appointment and the removal of our directors during such time. These provisions of our amended and restated memorandum and articles of association may only be amended by a special resolution passed by the holders of a majority of at least 90% of our ordinary shares attending and voting in person or by proxy in a general meeting. As a result, you will not have any influence over the appointment of directors prior to our