---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-25-007166"
form_type: "8-K"
ticker: "KOYN"
cik: "0002068454"
company_name: "CSLM Digital Asset Acquisition Corp III, Ltd"
filed_at: "2025-09-04T23:59:59+00:00"
generated_at: "2026-05-17T08:22:55.904655+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# CSLM Digital Asset Acquisition Corp III closes $230M IPO; trust account funded; auditor raises going concern doubt

## Summary
- IPO of 23M units at $10/unit raised $230M; private placement of 891,250 units to sponsor and CCM raised $8.9M.
- Trust account holds $230M; deferred underwriting fees of $9.2M; cash on hand $3.73M.
- Auditor's report includes substantial doubt about ability to continue as going concern due to working capital deficiency and expected costs.
- Class A ordinary shares subject to redemption at $10 per share; 24 months from IPO to complete business combination.

## SEC filing metadata
- accession: 0001829126-25-007166
- form_type: 8-K
- ticker: KOYN
- cik: 0002068454
- company_name: CSLM Digital Asset Acquisition Corp III, Ltd
- filed_at: 2025-09-04T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2068454/000182912625007166/0001829126-25-007166-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2068454/000182912625007166/cslmacq3_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-25-007166
- JSON: https://secwatch.observer/filing/0001829126-25-007166.json
- Plain text: https://secwatch.observer/filing/0001829126-25-007166.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.