---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-25-009687"
form_type: "8-K/A"
ticker: "KOYN"
cik: "0002068454"
company_name: "CSLM Digital Asset Acquisition Corp III, Ltd"
filed_at: "2025-12-04T23:59:59+00:00"
generated_at: "2026-05-16T14:57:03.135040+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# CSLM Digital Asset (KOYN) non-binding LOI to combine with stablecoin issuer First Digital Group

## Summary
- SPAC KOYN entered non-binding LOI with First Digital Group, a leading stablecoin and digital asset infrastructure provider.
- First Digital issues FDUSD stablecoin with over 10B in circulation and listed on 100+ exchanges since 2022.
- Transaction subject to due diligence, definitive agreement, regulatory approvals, and other conditions.
- Cohen & Company Capital Markets advises First Digital; Loeb & Loeb LLP and DLA Piper serve as legal counsel.

## SEC filing metadata
- accession: 0001829126-25-009687
- form_type: 8-K/A
- ticker: KOYN
- cik: 0002068454
- company_name: CSLM Digital Asset Acquisition Corp III, Ltd
- filed_at: 2025-12-04T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2068454/000182912625009687/0001829126-25-009687-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2068454/000182912625009687/cslmacq3_8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-25-009687
- JSON: https://secwatch.observer/filing/0001829126-25-009687.json
- Plain text: https://secwatch.observer/filing/0001829126-25-009687.txt

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