CSLM Digital Asset Acquisition Corp III, Ltd disclosure: Verition Fund Management LLC and Nicholas Maounis report beneficial ownership of 700,000 Class A ordinary shares as of March 31, 2026, representing approximately 2.9% of Class A shares outstanding. The shares are held for Verition Multi-Strategy Master Fund Ltd.
The filing notes each Unit consists of one Class A Ordinary Share and one-half of a redeemable warrant; warrants entitle the holder to purchase one Class A Ordinary Share at $11.50 per share but are not exercisable until 30 days after the issuer's initial business combination. Voting and dispositive power over the 700,000 shares is shared by the Reporting Persons.
Positive
None.
Negative
None.
Insights
Verition reports a 700,000-share holding equal to 2.9% of KOYN's Class A base.
The filing states that Verition Fund Management LLC and Nicholas Maounis may be deemed to have shared voting and dispositive power over 700,000 Class A shares held for Verition Multi-Strategy Master Fund Ltd. The position is reported under Schedule 13G/A and is classified as ownership of 5% or less.
Key dependencies include the Issuer's outstanding share count of 23,891,250 as of March 16, 2026 and the non-exercisable status of related warrants until 30 days after an initial business combination.
Holding is managed via an investment manager structure with shared authority.
The filing clarifies that Verition Fund Management LLC serves as investment manager and Mr. Maounis is its managing member; both are reporting persons with shared voting and dispositive power over the reported shares. The shares are held on behalf of Verition Multi-Strategy Master Fund Ltd.
Because the warrants underlying Units are not exercisable until after the issuer's business combination, they are excluded from the beneficial-ownership calculation in this statement.
Key Figures
Reported shares beneficially owned:700,000 sharesPercent of Class A outstanding:2.9%Outstanding Class A shares:23,891,250 shares+1 more
4 metrics
Reported shares beneficially owned700,000 sharesAs of March 31, 2026; held for Verition Multi-Strategy Master Fund Ltd.
Percent of Class A outstanding2.9%Based on 23,891,250 Class A shares outstanding as of March 16, 2026
Outstanding Class A shares23,891,250 sharesReported in issuer's Form 10-K as of March 16, 2026
Warrant exercise price$11.50/shareEach whole warrant entitles holder to purchase one Class A Ordinary Share at $11.50
Key Terms
Unit, Warrant, Beneficially own
3 terms
Unitfinancial
"Each Unit consists of one Class A Ordinary Share and one-half of one redeemable warrant"
A unit is a single, indivisible investment instrument sold and traded as one package, often made up of two or more pieces such as a share combined with a warrant or a debt piece. Thinking of it like a combo meal at a restaurant helps: you buy one item that includes separate parts, and each part affects what you own, how you can sell it, and the potential future value or dilution for investors.
Warrantfinancial
"Each whole warrant entitles the holder to purchase one Class A Ordinary Share at a price of $11.50"
A warrant is a time-limited financial contract that gives its holder the right to buy a company's shares at a set price before a specified date, like a coupon that lets you purchase stock at a fixed discount for a limited time. It matters to investors because warrants offer leveraged exposure to a stock’s upside and can dilute existing shareholders if exercised, so they affect potential gains and the company’s outstanding share count.
Beneficially ownregulatory
"the number of Class A Ordinary Shares the Reporting Persons may be deemed to beneficially own"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
What stake does Verition report in CSLM Digital Asset Acquisition Corp III (KOYN)?
Verition reports beneficial ownership of 700,000 Class A ordinary shares, equal to approximately 2.9% of Class A shares outstanding as of March 31, 2026. The shares are held for Verition Multi-Strategy Master Fund Ltd.
Are the related warrants exercisable for KOYN shares?
No. The filing states warrants underlying Units cannot be exercised until 30 days after the consummation of the issuer's initial business combination, and those warrants are excluded from the beneficial-ownership calculation.
How was the 2.9% ownership percentage calculated?
The percentage is based on 23,891,250 Class A Ordinary Shares outstanding as reported in the issuer's annual report on Form 10-K, with the outstanding count dated March 16, 2026 and the ownership date of March 31, 2026.
Who holds voting and dispositive power over the reported shares?
The filing states that Verition Fund Management LLC and Nicholas Maounis have shared voting and dispositive power over the 700,000 Class A shares held for Verition Multi-Strategy Master Fund Ltd.
Are the reported shares owned directly by the reporting persons?
No. The shares are held for Verition Multi-Strategy Master Fund Ltd.; Verition Fund Management LLC acts as investment manager and Mr. Maounis is its managing member, so the Reporting Persons are deemed to have authority over the fund's holdings.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
CSLM Digital Asset Acquisition Corp III, Ltd
(Name of Issuer)
Class A ordinary shares, par value $0.0001 per share
(Title of Class of Securities)
G2584S101
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
G2584S101
1
Names of Reporting Persons
Verition Fund Management LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
700,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
700,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
700,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.9 %
12
Type of Reporting Person (See Instructions)
IA, OO
SCHEDULE 13G
CUSIP Number(s):
G2584S101
1
Names of Reporting Persons
Maounis Nicholas Matthew
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
700,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
700,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
700,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.9 %
12
Type of Reporting Person (See Instructions)
IN, HC
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
CSLM Digital Asset Acquisition Corp III, Ltd
(b)
Address of issuer's principal executive offices:
2400 E. Commercial Boulevard, Suite 900, Ft. Lauderdale, Florida, 33308
Item 2.
(a)
Name of person filing:
This Statement is filed on behalf of each of the following persons: Verition Fund Management LLC and Nicholas Maounis (collectively, the "Reporting Persons"). This Statement relates to Class A ordinary shares, par value $0.0001 per share ("Class A Ordinary Shares") underlying units ("Units") held for the account of Verition Multi-Strategy Master Fund Ltd. Each Unit consists of one Class A Ordinary Share and one-half of one redeemable warrant. Each whole warrant ("Warrant") entitles the holder to purchase one Class A Ordinary Share at a price of $11.50 per share, subject to adjustment, and cannot be exercised until 30 days after the consummation of the Issuer's initial business combination. Verition Fund Management LLC serves as the investment manager to Verition Multi-Strategy Master Fund Ltd. Mr. Nicholas Maounis is the managing member of Verition Fund Management LLC. In such capacities, each of the Reporting Persons may be deemed to have voting and dispositive power over the securities held for Verition Multi-Strategy Master Fund Ltd.
(b)
Address or principal business office or, if none, residence:
The principal business office of each of the Reporting Persons is One American Lane, Greenwich, CT 06831.
(c)
Citizenship:
Verition Fund Management LLC is a Delaware limited liability company. Nicholas Maounis is a citizen of the United States.
(d)
Title of class of securities:
Class A ordinary shares, par value $0.0001 per share
(e)
CUSIP No.:
G2584S101
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
As of March 31, 2026, the number of Class A Ordinary Shares the Reporting Persons may be deemed to beneficially own equals 700,000 Class A Ordinary Shares held by Verition Multi-Strategy Master Fund Ltd.
The amount beneficially owned by each Reporting Person excludes Class A Ordinary Shares underlying Warrants held by Verition Multi-Strategy Master Fund Ltd. that cannot be exercised until 30 days after the consummation of the Issuer's initial business combination, because the Reporting Persons do not have the right to acquire beneficial ownership of such Class A Ordinary Shares within 60 days.
(b)
Percent of class:
As of March 31, 2026, the number of Class A Ordinary Shares the Reporting Persons may be deemed to beneficially own constitutes approximately 2.9% of the Class A Ordinary Shares outstanding. This percentage is based on 23,891,250 Class A Ordinary Shares outstanding as of March 16, 2026, as reported in the Issuer's annual report on Form 10-K filed with the Securities and Exchange Commission on March 19, 2026.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
700,000
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
700,000
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
Verition Multi-Strategy Master Fund Ltd. is known to have the right to receive dividends from, and proceeds from the sale of, the Class A Ordinary Shares covered by this Statement that may be deemed to be beneficially owned by the Reporting Persons.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
See disclosure in Item 2 hereof.
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
