Company: KOYNU
Filing Date: 2025-08-12
Form Type: S-1/A
Source: 0001829126-25-006117
Chunk: 6

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-08-12
Form: S-1/A
Chunk 6
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 decrease the size of the offering, we will effect a share capitalization or a share repurchase or redemption or other appropriate mechanism, as applicable, with respect to our Class B ordinary shares immediately prior to the consummation of the offering in such amount as to maintain the ownership of founder shares by our initial shareholders, on an as-converted basis, at 25% of our issued and outstanding ordinary shares upon the consummation of this offering (not including the Class A ordinary shares comprising part of the private units and the Class A ordinary shares underlying the private warrants). Such issuance will significantly dilute the equity interest of our other shareholders. Up to 1,000,000 founder shares will be surrendered to us for no consideration after the closing of this offering depending on the extent to which the underwriter’s over-allotment option is exercised. Although the percentage of the founder shares will remain constant, public shareholders will be subject to further dilution based upon the extent to which the underwriter’s over-allotment is exercised. Further, the Class A ordinary shares issuable in connection with the conversion of the founder shares (including those issued in connection with an increase in the size of the offering) may ultimately result in material dilution to our public shareholders due to the anti-dilution rights of our founder shares that may result in an issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion. See the section titled “Dilution” on page 123 for more information.

As a result, as of the date of this prospectus, we have 7,666,667 Class B ordinary shares, or “founder shares,” outstanding acquired by our Sponsor (pursuant to a Securities Transfer Agreement, our Sponsor has transferred 20,000 founder shares (or 100,000 in the aggregate) to each of the Company’s director nominees, Christopher Bradley, Brian Rudick, Mathew August, Danel Calvillo Armendariz and Dr. Jim Kyung Soo Liew, for the sum of $0.003 per share, following which transfer our Sponsor holds an aggregate of 7,566,667 founder shares). Because our Sponsor (and pursuant to the Securities Transfer Agreement, each of the Company’s director nominees, Christopher Bradley, Brian Rudick, Mathew August, Danel Calvillo Armendariz and Dr. Jim Kyung Soo Liew) acquired the Class B ordinary shares at a nominal price, our public shareholders will incur an immediate and substantial dilution upon the