{"url_path":"/sec/koyn/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/2068454/0001829126-26-005236-index.html","accession_number":"0001829126-26-005236","cik":"0002068454","ticker":"KOYN","issuer_name":"CSLM Digital Asset Acquisition Corp III, Ltd","edgar_url":"https://www.sec.gov/Archives/edgar/data/2068454/0001829126-26-005236-index.html","primary_entity_key":"0002068454","primary_entity_name":"CSLM Digital Asset Acquisition Corp III, 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STATES**\n\n**SECURITIES AND EXCHANGE COMMISSION**\n\n**Washington, D.C. 20549**\n\n \n\n**Form 10-Q**\n\n \n\n**(Mark One)**\n\n☒ **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**For the quarterly period ended March 31, 2026**\n\n \n\n☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**OR**\n\n \n\n**For the transition period from             to            **\n\n \n\n**Commission file number: 001-42818**\n\n \n\n**CSLM DIGITAL ASSET ACQUISITION CORP III, LTD**\n\n**(Exact name of registrant as specified in its charter)**\n\n** **\n\n000-00000\n\n**Cayman Islands**\n \n**N/A00-0000000**\n\n**(State or other jurisdictionof incorporation)**\n** **\n**(I.R.S. EmployerIdentification No.)**\n\n \n\n**2400 E. Commercial Boulevard, Suite 900Ft. Lauderdale, FL**\n** **\n**33308**\n\n**(Address of Principal Executive Offices)**\n** **\n**(Zip Code)**\n\n \n\n**Registrant’s telephone number, including area code: (954) 315-9381**\n\n \n\n**Securities registered pursuant to Section 12(b) of the Act:**\n\n \n\nTitle of each class\n \nTrading Symbol(s)\n \nName of each exchange on which registered\n\nUnits, each consisting of one Class A ordinary share, par value $0.0001 per share, and one-half of one redeemable warrant\n \nKOYNU\n \nThe Nasdaq Stock Market LLC\n\nClass A ordinary shares, par value $0.0001 per share\n \nKOYN\n \nThe Nasdaq Stock Market LLC\n\nWarrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share\n \nKOYNW\n \nThe Nasdaq Stock Market LLC\n\n \n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒   No ☐\n\n \n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒   No ☐\n\n \n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer\n☐\nAccelerated filer\n☐\n\nNon-accelerated filer\n☒\nSmaller reporting company\n☒\n\nEmerging growth company\n☒\n \n \n\n \n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☒   No ☐\n\n \n\nAs of May 14, 2026, there were 23,891,250 Class A ordinary shares, par value $0.0001, issued and outstanding, and 7,666,667 Class B ordinary shares, $0.0001 par value, issued and outstanding.\n\n \n\n \n\n \n\n \n\n \n\n \n\n**TABLE OF CONTENTS**\n\n \n\n[PART I – FINANCIAL INFORMATION](#a_001)\n\n[Item 1.](#a_002)\n \n[Financial Statements](#a_002)\n \n1\n\n \n \n[Condensed Balance Sheets as of March 31, 2026 and December 31, 2025 (Unaudited)](#a_003)\n \n1\n\n \n \n[Condensed Statements of Operations for the three months ended March 31, 2026 and March 31, 2025 (Unaudited)](#a_004)\n \n2\n\n \n \n[Condensed Statements of Changes in Shareholders’ Deficit for the three months ended March 31, 2026 and March 31, 2025 (Unaudited)](#a_005)\n \n3\n\n \n \n[Condensed Statements of Cash Flows for the three months ended March 31, 2026 and March 31, 2025 (Unaudited)](#a_006)\n \n4\n\n \n \n[Notes to the\nUnaudited Condensed Financial Statements](#a_007)\n \n5\n\n[Item 2.](#a_008)\n \n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#a_008)\n \n22\n\n[Item 3.](#a_009)\n \n[Quantitative and Qualitative Disclosures About Market Risk](#a_009)\n \n28\n\n[Item 4.](#a_010)\n \n[Controls and Procedures](#a_010)\n \n28\n\n \n \n \n \n \n\n[PART II – OTHER INFORMATION](#a_011)\n\n[Item 1.](#a_012)\n \n[Legal Proceedings.](#a_012)\n \n29\n\n[Item 1A.](#a_013)\n \n[Risk Factors.](#a_013)\n \n29\n\n[Item 2.](#a_014)\n \n[Unregistered Sales of Equity Securities and Use of Proceeds.](#a_014)\n \n29\n\n[Item 3.](#a_015)\n \n[Defaults Upon Senior Securities.](#a_015)\n \n30\n\n[Item 4.](#a_016)\n \n[Mine Safety Disclosures.](#a_016)\n \n30\n\n[Item 5.](#a_017)\n \n[Other Information.](#a_017)\n \n30\n\n[Item 6.](#a_018)\n \n[Exhibits.](#a_018)\n \n31\n\n \n\ni\n\n \n\n \n\n**PART I – FINANCIAL INFORMATION**"}