CSLM Digital Asset Acquisition Corp, III opens at $10.03

CSLM Digital Asset Acquisition Corp, III opens at $10.03

CSLM Digital Asset Acquisition Corp III, Ltd (CSLM) opened at $10.03 on Nasdaq under the ticker symbol "KOYNU" on August 27, 2025, following its initial public offering (IPO) priced at $10.00 per unit. The IPO raised $200 million, with each unit consisting of one Class A ordinary share and one-half of a redeemable warrant, exercisable at $11.50 per share [1].

The SPAC, led by Chairman and Chief Financial Officer Vik Mittal and Chief Executive Officer Charles T. Cassel III, plans to target businesses in "new economy sectors" such as digital assets, blockchain technology, and critical infrastructure in Frontier Growth Markets. The company's focus is on companies building critical infrastructure like wallets, custody solutions, exchanges, data protocols, and tokenized financial instruments, as well as real-world applications in payments, DeFi, and cross-border finance [1].

CSLM's IPO was managed by Cohen & Company Capital Markets, which has a 45-day option to purchase an additional 3 million units at the initial public offering price to cover over-allotments, if any. The offering closed on August 28, 2025, subject to customary closing conditions [1].

While the SPAC's IPO was successfully priced, there are potential risks and uncertainties associated with the company's plans. The forward-looking statements in the press release indicate that no assurance can be given that the offering will be completed on the terms described, or at all, and that the net proceeds of the offering may not be used as indicated. Additionally, as a blank check company, CSLM has not yet identified specific acquisition targets, which may lead to investor skepticism [1].

References:
[1] https://www.morningstar.com/news/globe-newswire/9518659/cslm-digital-asset-acquisition-corp-iii-ltd-200-million-initial-public-offering