SoFi CEO enters prepaid forward contract on 1.5 million shares
CSLM Digital Asset Acquisition Corp III, Ltd priced its initial public offering of 20 million units at $10.00 per unit, raising $200 million. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant allowing the purchase of one Class A ordinary share at $11.50.
The units are expected to begin trading on NASDAQ: KOYNU on August 27, 2025. Once the securities begin separate trading, the Class A ordinary shares and warrants will trade under the symbols NASDAQ: KOYN and NASDAQ: KOYNW, respectively.
The Cayman Islands-based special purpose acquisition company is led by Chairman and Chief Financial Officer Vik Mittal and Chief Executive Officer Charles T. Cassel III. The SPAC plans to target businesses in the digital asset space, focusing on companies building blockchain infrastructure including wallets, custody solutions, exchanges, data protocols, and tokenized financial instruments.
Cohen & Company Capital Markets serves as sole book-running manager for the offering. The company has granted the underwriter a 45-day option to purchase up to an additional 3 million units to cover over-allotments. The offering is expected to close on August 28, 2025, subject to customary closing conditions.
The Securities and Exchange Commission declared the registration statement effective on August 26, 2025. The information is based on a company press release statement.