Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 242

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 242
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machines with respect to each Converted Stock Option.

136

Pursuant to the Merger Agreement, effective immediately prior to the
Effective Time, each of Fusemachines’ issued and outstanding convertible promissory notes (the “Fusemachines Convertible Notes”) shall be (i) treated in accordance with the terms of the relevant agreement governing such
Fusemachines Convertible Notes, and (ii) converted into Fusemachines Preferred Stock or Fusemachines Common Stock, as applicable.

The “Conversion Ratio” is the quotient obtained by dividing (i) the number of Pubco Common Stock constituting the
Aggregate Merger Consideration, by (ii) the “Aggregate Fully Diluted Fusemachines Common Stock”, which means: the sum, without duplication, of (a) all shares of Fusemachines Common Stock that are issued and outstanding
immediately prior to the Effective Time; plus (b) the aggregate number of shares of Fusemachines Common Stock issuable upon conversion of all shares of Fusemachines Preferred Stock that are issued and outstanding immediately prior to the
Effective Time; plus (c) the aggregate number of shares of Fusemachines Common Stock issuable upon full exercise of all Fusemachines Options (whether vested or unvested); plus (d) the aggregate number of shares of Fusemachines Common Stock
issuable upon full conversion of all Company Convertible Notes that are outstanding immediately prior to the Effective Time; plus (e) the aggregate number of shares of Fusemachines Common Stock issuable upon full conversion, exercise or
exchange of any other securities of Fusemachines outstanding immediately prior to the Effective Time directly or indirectly convertible into or exchangeable or exercisable for shares of Fusemachines Common Stock. The Proposed Bylaws will provide
that Pubco Common Stock issued as consideration pursuant to the Merger will be subject to a lock-up for a period of the shorter period of (i) one year after the Closing Date and (ii) subsequent to the Closing Date, (x) if the last
reported sale price of CSLM Common Shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share dividends, rights issuances, reorganizations, recapitalizations and other similar transactions) for any 20 trading days within
any 30-trading day period commencing at least 120 days after the Closing Date or (y) the date following the Closing Date on which the Pubco completes a liquidation, merger, share exchange, reorganization