Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 396

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 396
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. As of March 31, 2025, no funds had been deposited into escrow and the closing conditions
had not been met. If the Merger Agreement is terminated, the proceeds will be returned to the holder.

Further, per Section 4.2 of
the Escrow Agreement “Upon the Closing, the Company, Investor and Fusemachines shall jointly deliver a Joint Release Notice to the Escrow Agent directing the Escrow Agent to disburse to the Pubco all of the Funds in the Escrow Account.”
Accordingly, the escrowed funds are not freely available to the Pubco prior to joint instruction by the Investor, Fusemachines, and the Company.

As the funds had not been received in escrow as of March 31, 2025 and the release of proceeds is contingent upon the occurrence of the
Business Combination, an event not wholly within the control of the Company, the same has not been recognized in the financial statements as of March 31, 2025.

On May 22, 2025, the proceeds from Consilium Frontier Equity Fund, LP have been received into an escrow account.

Litigation

Fusemachines Inc. received a
legal notice dated March 27, 2025, requiring payment of $76.3 thousand to a vendor under a Work Labor & Services agreement due to alleged non-fulfilment of payment obligations. Based on its
assessment of the services received and contractual terms, management believes that the amount payable is $41.3 thousand, which has been recognized in its unaudited condensed consolidated interim balance sheet as of March 31, 2025, and
intends to contest the remaining portion of the claim. Although there can be no assurance of the outcome of such legal actions, in the opinion of management, the Company does not have a potential liability related to any current legal proceeding or
claim that would individually or in the aggregate materially affect its result of operations, financial condition, or cash flows.

251

Financial Performance For the quarter ended March 31, 2025, and March 31, 2024, we generated revenues of $1.95 million and $1.92 million and reported a net loss of $0.25 million and $3.29 million, respectively. For the year ended December 31, 2024 and 2023, we generated revenues of $8.8 million and $7.4 million and reported a net loss of $15.4 million and $6