CSLM Digital Asset Acquisition Corp III, Ltd Announces Closing of $230 Million Initial Public Offering
CSLM Digital Asset Acquisition Corp III (NASDAQ:KOYNU) has successfully completed its initial public offering, raising $230 million through the sale of 23 million units at $10.00 per unit, including the full exercise of the underwriters' over-allotment option.
Each unit comprises one Class A ordinary share and one-half redeemable warrant, with whole warrants exercisable at $11.50 per share. The units trade under "KOYNU," while the Class A shares and warrants will separately trade as "KOYN" and "KOYNW" respectively.
Led by Chairman and CFO Vik Mittal and CEO Charles T. Cassel III, the SPAC targets businesses in the digital asset space, focusing on blockchain infrastructure and distributed ledger technologies within Frontier Growth Markets.
CSLM Digital Asset Acquisition Corp III (NASDAQ:KOYNU) ha portato a termine con successo la sua offerta pubblica iniziale, raccogliendo 230 milioni di dollari grazie alla vendita di 23 milioni di unità a 10,00 $ per unità, inclusa la piena esercitazione dell'opzione di sovrallocazione degli underwriter.
Ciascuna unità è composta da una azione ordinaria di Classe A e da mezza warrant rimborsabile, con le warrant intere esercitabili a 11,50 $ per azione. Le unità sono negoziate con il simbolo "KOYNU", mentre le azioni Classe A e le warrant saranno negoziate separatamente come "KOYN" e "KOYNW" rispettivamente.
Guidata dal presidente e CFO Vik Mittal e dal CEO Charles T. Cassel III, la SPAC mira a società nel settore degli asset digitali, con particolare attenzione all'infrastruttura blockchain e alle tecnologie di registro distribuito nei Frontier Growth Markets.
CSLM Digital Asset Acquisition Corp III (NASDAQ:KOYNU) ha completado con éxito su oferta pública inicial, recaudando 230 millones de dólares mediante la venta de 23 millones de unidades a 10,00 $ por unidad, incluyendo el ejercicio total de la opción de sobresuscripción de los colocadores.
Cada unidad consta de una acción ordinaria Clase A y media warrant rescatable, siendo las warrants enteras ejercitables a 11,50 $ por acción. Las unidades cotizan bajo "KOYNU", mientras que las acciones Clase A y las warrants cotizarán por separado como "KOYN" y "KOYNW" respectivamente.
Bajo la dirección del presidente y CFO Vik Mittal y del CEO Charles T. Cassel III, la SPAC se enfoca en empresas del espacio de activos digitales, centrada en infraestructura blockchain y tecnologías de libro mayor distribuido en los Frontier Growth Markets.
CSLM Digital Asset Acquisition Corp III (NASDAQ:KOYNU)는 공모(IPO)를 성공적으로 마쳐 2억3000만 달러를 조달했습니다. 이는 주당 10.00달러에 2,300만 단위를 판매하고 인수단의 초과배정옵션을 전액 행사한 결과입니다.
각 단위는 클래스 A 보통주 1주와 환매 가능 워런트 0.5개로 구성되며, 전체 워런트는 주당 11.50달러에 행사할 수 있습니다. 단위는 "KOYNU"로 거래되며 클래스 A 주식과 워런트는 각각 "KOYN" 및 "KOYNW"로 별도 거래됩니다.
회장 겸 CFO 빅 미탈(Vik Mittal)과 CEO 찰스 T. 캐젤 3세(Charles T. Cassel III)가 이끄는 이 스팩은 디지털 자산 분야의 기업을 목표로 하며, 프런티어 성장시장 내의 블록체인 인프라 및 분산원장 기술에 중점을 둡니다.
CSLM Digital Asset Acquisition Corp III (NASDAQ:KOYNU) a finalisé avec succès son introduction en bourse, levant 230 millions de dollars grâce à la vente de 23 millions d'unités à 10,00 $ par unité, incluant l'exercice intégral de l'option de surallocation des teneurs de livres.
Chaque unité se compose d'une action ordinaire de classe A et d'une demi-warrant remboursable, les warrants entières étant exerçables à 11,50 $ par action. Les unités sont cotées sous le symbole « KOYNU », tandis que les actions de classe A et les warrants seront cotées séparément sous « KOYN » et « KOYNW » respectivement.
Sous la direction du président et directeur financier Vik Mittal et du PDG Charles T. Cassel III, la SPAC cible des entreprises dans le domaine des actifs numériques, en se concentrant sur l'infrastructure blockchain et les technologies de registre distribué dans les Frontier Growth Markets.
CSLM Digital Asset Acquisition Corp III (NASDAQ:KOYNU) hat seinen Börsengang erfolgreich abgeschlossen und dabei 230 Millionen US-Dollar durch den Verkauf von 23 Millionen Einheiten zu 10,00 $ pro Einheit eingenommen, einschließlich der vollständigen Ausübung der Mehrzuteilungsoption der Konsortialführer.
Jede Einheit besteht aus einer Stammaktie der Klasse A und einer halben rückzahlbaren Warrant, wobei ganze Warrants zu 11,50 $ pro Aktie ausübbar sind. Die Einheiten werden unter „KOYNU“ gehandelt, während die Klasse-A-Aktien und die Warrants separat als „KOYN“ bzw. „KOYNW“ gehandelt werden.
Unter der Leitung von Vorsitzendem und CFO Vik Mittal sowie CEO Charles T. Cassel III richtet sich die SPAC auf Unternehmen im Bereich digitaler Vermögenswerte aus und fokussiert sich auf Blockchain-Infrastruktur und Distributed-Ledger-Technologien in den Frontier Growth Markets.
- Successfully raised $230 million in IPO proceeds
- Full exercise of over-allotment option by underwriters indicates strong demand
- Management team brings extensive experience in emerging markets
- Strategic focus on high-growth digital asset and blockchain infrastructure sectors
- SPAC structure carries inherent risks of not finding suitable acquisition target
- Investment in frontier markets and digital assets presents higher risk profile
- No specific acquisition target identified yet
Insights
CSLM Digital Asset Acquisition Corp III raises $230M in IPO to pursue blockchain and digital asset acquisitions in emerging markets.
CSLM Digital Asset Acquisition Corp III has successfully completed its $230 million IPO, selling 23 million units at
This SPAC represents a targeted investment vehicle focused on blockchain infrastructure and digital asset companies in Frontier Growth Markets. The management team brings significant expertise through their affiliations with Consilium Investment Management and Meteora Capital, with leadership from Chairman Vik Mittal and CEO Charles Cassel III.
The company's strategy centers on identifying acquisition targets building essential digital asset infrastructure - including wallets, custody solutions, exchanges, and tokenized financial instruments - particularly in emerging economies. This approach positions them at the intersection of two high-growth trends: blockchain technology adoption and emerging market expansion.
Cohen & Company Capital Markets served as the sole book-runner, highlighting this as a focused offering with specialized management. With the IPO complete, CSLM now has approximately 24 months to identify and complete a business combination before facing potential liquidation, as is standard with SPAC structures. Investors should monitor for acquisition announcements, which typically drive significant price movement in SPAC securities.
FT. LAUDERDALE, Fla., Aug. 28, 2025 (GLOBE NEWSWIRE) -- CSLM Digital Asset Acquisition Corp III, Ltd (the “Company”) (Nasdaq: KOYNU), a newly organized special purpose acquisition company formed as a Cayman Islands exempted company, today announced the closing of its initial public offering of 23,000,000 units, which includes 3,000,000 units issued pursuant to the full exercise by the underwriters of their over-allotment option, at an offering price of
The Company’s units began trading on The Nasdaq Global Market (“Nasdaq”) under the ticker symbol “KOYNU” on August 27, 2025. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of
CSLM Digital Asset Acquisition Corp III is led by Chairman and Chief Financial Officer Vik Mittal and Chief Executive Officer Charles T. Cassel III. The SPAC is further supported by a distinguished board of directors that shares CSLM’s vision, including Jonathan M. Binder, Brian Rudick, Danel Calvillo Armendariz, Dr. Jim Kyung-Soo Liew, Christopher Bradley, and Mathew August.
The SPAC plans to target businesses that are not only well-positioned for long-term, sustainable growth in the digital asset space, but also strategically positioned to capitalize on the global adoption of blockchain and distributed ledger technologies. The core focus will be on companies operating in “new economy sectors” within Frontier Growth Markets that are building critical infrastructure such as wallets, custody solutions, exchanges, data protocols, and tokenized financial instruments, as well as real-world applications in payments, DeFi, and cross-border finance. Through this strategy, leveraging the management team’s decades-long track record in emerging markets and their affiliation with Consilium Investment Management and Meteora Capital, the SPAC aims to generate long-term value while advancing the global digital asset ecosystem and infrastructure development in high-growth markets.
Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC acted as sole book-running manager for the offering.
A registration statement relating to the securities sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on August 26, 2025. The offering was made only by means of a prospectus, copies of which may be obtained from: Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, 3 Columbus Circle, 24th Floor, New York, NY 10019, or by email at capitalmarkets@cohencm.com, or by accessing the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About CSLM Digital Asset Acquisition Corp III, Ltd
CSLM Digital Asset Acquisition Corp III, Ltd is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an acquisition opportunity in any business, industry, sector or geographical location, the Company intends to focus on companies operating in the “new economy sectors,” which we broadly define as those in technology, financial services, or media and that are located in Frontier Growth Markets.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering and search for an initial business combination. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.
Contact:
Vik Mittal
CSLM3@meteoracapital.com
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