CSLM Digital Asset Acquisition Corp III (KOYNW) Warrant
Each KOYNW warrant gives the holder the right to buy 1 share of CSLM Digital Asset Acquisition Corp III at $11.50 per share, for five years after the company completes its merger. The stock last closed at $10.26, below the strike, so the warrant is out of the money. CSLM Digital Asset Acquisition Corp III has a market value of about $323.78M. CSLM Digital Asset Acquisition Corp III is a SPAC (letter of intent signed with First Digital). It must complete a deal by August 28, 2027 or the warrants expire worthless. There are 11.50M listed warrants; exercising all of them would add 36.4% to the 31.56M shares outstanding.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- merger + 5 years
- Redemption trigger
- $18.00
- Cashless exercise
- allowed
- Break-even stock price
- $11.68
From the issuer's S-1/A (2025-08-12).
Company and stock
- Company
- CSLM Digital Asset Acquisition Corp III
- Underlying stock
- KOYN
- Share price
- $10.26
- Market cap
- $323.78M
- Shares outstanding
- 31.56M
- 12-month range
- $9.93 – $10.27
- 12-month change
- +3%
- Value of all listed warrants
- $2.07M (0.6% of market cap)
- Industry
- Blank check company (SPAC)
- Head office
- Grand Cayman
- Incorporated in
- Cayman Islands
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). Industry and head office are as the company reports them to the SEC. All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.1800
- Price / model
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Dilution
- Shares outstanding
- 31.56M
- Listed warrants
- 11.50M
- Dilution if all exercised
- 36.4%
Warrant count from filing iXBRL: PublicWarrantsMember.
SPAC deal
- Status
- letter of intent signed
- Target
- First Digital
- Deal announced
- —
- Deadline
- 2027-08-28
- Latest possible deadline
- 2027-08-28
- Trust per share
- $10.32
- Sponsor
- CSLM Acquisition Sponsor II Ltd.
- Sponsor's earlier SPACs
- 0 (0 closed a deal)
- Chance of a deal
A SPAC warrant is worth nothing if no deal closes by the deadline.
Filings and events
Questions about KOYNW
When does the KOYNW warrant expire?
Five years after the SPAC completes its merger; if no merger closes by the deadline, the warrants expire worthless.
What is the strike price of KOYNW?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many KOYNW warrants are outstanding?
11.50M listed warrants, equal to 36.4% dilution if all are exercised.
Related warrants
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