Company: KOYNU
Filing Date: 2025-07-31
Form Type: S-1/A
Source: 0001829126-25-005627
Chunk: 147

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-31
Form: S-1/A
Chunk 147
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 this offering, (ii) any seller in the initial business combination, (iii) the Class A ordinary
shares underlying the private warrants and (iv) any Class A ordinary shares issued to our Sponsor (or its members or affiliates)
upon conversion of working capital loans. Our public shareholders may incur immediate and substantial dilution upon such adjustment.
Additionally, the aforementioned adjustment will not take into account any Class A ordinary shares redeemed in connection with the
business combination. Accordingly, the holders of the founder shares could receive additional Class A ordinary shares even if the
additional Class A ordinary shares, or equity-linked securities convertible or exercisable for Class A ordinary shares, are
issued or deemed issued solely to replace those shares that were redeemed in connection with the business combination. The foregoing
may make it more difficult and expensive for us to consummate an initial business combination.

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Risks Relating to the Post-Business Combination Company

Subsequent to our consummation of our initial business combination, we may be required to take write-downs or write-offs, or we may be subject to restructuring and impairment or other charges that could have a significant negative effect on our financial condition, results of operations and the price of our public shares, which could cause you to lose some or all of your investment.

Even if we conduct thorough
due diligence on a target business with which we combine, this diligence may not surface all material issues that may be present inside
a particular target business. Factors outside of the target business and outside of our control may, at any time, arise. As a result
of these factors, we may be forced to later write-down or write-off assets, restructure our operations, or incur impairment or other
charges that could result in our reporting losses. Even if our due diligence successfully identifies certain risks, unexpected risks
may arise and previously known risks may materialize in a manner not consistent with our preliminary risk analysis. Even though these
charges may be non-cash items and not have an immediate impact on our liquidity, the fact that we report charges of this nature could
contribute to negative market perceptions about us or our securities. In addition, charges of this nature may cause us to violate net
worth or other covenants to which we may be subject as a result of assuming pre-existing debt held by a target business or by virtue
of our obtaining post-combination debt financing. Accordingly, any holders who choose to retain their securities following the business
combination could suffer a reduction