CSLM Digital Asset Acquisition Corp III Completes IPO of $230M
CSLM Digital Asset Acquisition Corp III Successfully Completes IPO
CSLM Digital Asset Acquisition Corp III, Ltd (the “Company”) (Nasdaq: KOYNU) has recently marked a significant milestone with the successful closing of its initial public offering, generating an impressive $230 million in gross proceeds. This event took place after the Company issued 23,000,000 units priced at $10.00 each, which included an additional 3,000,000 units sold due to the full exercise of the underwriters' over-allotment option.
Trading and Structure of the Company’s Units
Following this IPO, the Company’s units commenced trading on The Nasdaq Global Market under the ticker symbol “KOYNU.” Each unit consists of one Class A ordinary share along with one-half of a redeemable warrant, wherein each entire warrant gives its holder the right to buy one Class A ordinary share at $11.50. Notably, there will be no fractional warrants issued, which means that units will trade strictly in whole increments.
Separation of Units into Shares and Warrants
Investors should expect that once classes comprising the units start trading separately, the Class A ordinary shares and the associated warrants will be designated under new ticker symbols “KOYN” and “KOYNW,” respectively. This strategic structure is designed to facilitate trading and provide investors with an array of options.
Leadership and Strategic Focus of the SPAC
CSLM Digital Asset Acquisition Corp III is under the adept leadership of Vik Mittal, who serves as Chairman and Chief Financial Officer, alongside Chief Executive Officer Charles T. Cassel III. The SPAC boasts a highly distinguished board of directors, all of whom embody the Company's vision. The board includes leaders like Jonathan M. Binder, Brian Rudick, Danel Calvillo Armendariz, Dr. Jim Kyung-Soo Liew, Christopher Bradley, and Mathew August.
Target Markets and Innovation
This SPAC has set its sights on businesses poised for growth within the digital asset sector. Importantly, CSLM aims to identify companies prepared to benefit from the expansive adoption of blockchain and distributed ledger technologies. Their focus is particularly on “new economy sectors” operating within Frontier Growth Markets. This includes pivotal infrastructure that facilitates advancements in areas like wallet solutions, custody services, exchanges, data protocols, and tokenized financial assets. Furthermore, they will seek real-world applications across payment systems, decentralized finance (DeFi), and international financial transactions.
Management Team's Expertise
The management team’s extensive experience in emerging markets allows the Company to steer its strategy toward creating lasting value within the global digital asset ecosystem. Their partnership with Consilium Investment Management and Meteora Capital solidifies their position as they strive to boost infrastructure development in high-growth areas.
Role of Cohen & Company Capital Markets
Cohen & Company Capital Markets played a crucial role in this IPO, serving as the sole book-running manager for the offering, providing significant support throughout the process.
Regulatory Aspects and Compliance
The registration statement related to the securities involved in this IPO was verified as effective by the U.S. Securities and Exchange Commission. Interested parties may acquire the prospectus through Cohen & Company Capital Markets, or they can visit the SEC’s website for more details.
Contact Information
For additional inquiries, interested parties can reach out to Vik Mittal via email at CSLM3@meteoracapital.com.
Frequently Asked Questions
What is CSLM Digital Asset Acquisition Corp III?
CSLM Digital Asset Acquisition Corp III is a special purpose acquisition company (SPAC) formed to acquire or merge with businesses in the digital asset sector.
How much money did CSLM raise during its IPO?
The Company successfully raised $230 million during its initial public offering.
When did the trading of units begin?
The trading of CSLM's units commenced on The Nasdaq Global Market on August 27, 2025.
What is the main focus of CSLM's business strategy?
CSLM intends to target businesses positioned for growth in the digital asset space, with a special focus on emerging markets and blockchain technologies.
Who are the key individuals in CSLM's management team?
The management team includes Vik Mittal as Chairman and CFO, along with CEO Charles T. Cassel III and a board of highly experienced directors.
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