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CSLM ACQUISITION CORP.

CIK: 18754932 Annual ReportsLatest: 2025-04-11

10-K / April 11, 2025

Revenue:N/A
Income:$172,315

10-K / April 1, 2024

Revenue:N/A
Income:$4,626,782

10-K / April 11, 2025

Company Overview Summary (based on provided document)

  • Company Name: CSLM Acquisition Corp. (formerly Consilium Acquisition Corp I, Ltd)

  • Type: Special Purpose Acquisition Company (SPAC), incorporated in the Cayman Islands as an exempted company

  • Business Purpose:

    • Effectuate a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more operating businesses or assets.
    • Focused on identifying suitable acquisition targets, particularly in frontier growth markets.
    • Has not engaged in any operating activities or generated operating revenues to date.
    • Intends to use proceeds from an initial public offering (IPO) and private placement to finance a future business combination.
  • Management and Expertise:

    • Management team collectively has over 85 years of experience investing in Frontier Growth Markets.
    • Management has lived and worked in targeted markets, creating networks in financial, legal, political sectors.
    • Affiliated with CIM (Consilium Investment Management LLC), an SEC-registered investment management firm based in Fort Lauderdale, Florida.
  • Financials and Capital:

    • Initial Public Offering:
      • 18,975,000 units sold at $10.00 per unit for gross proceeds of approximately $189.75 million.
      • 2,475,000 units as over-allotment exercised.
    • Private Placement Warrants:
      • 7,942,500 warrants sold at $1.00 each for gross proceeds of approximately $7.94 million.
    • Trust Account:
      • Approximately $191.65 million (net proceeds from IPO and private warrants sale) held in a trust account with JPMorgan Chase, invested in U.S. government securities.
    • Cash and Working Capital:
      • As of December 31, 2024:
        • Cash: $83,227
        • Working capital deficit: $4,056,679
  • Operational Status:

    • Has not commenced any operations or generated revenues besides interest income and dividend income on investments held in the trust.
    • Focused on identifying, evaluating, and executing a business combination.
    • No ongoing operations or revenue-generating activities.
  • Name Change:

    • Formerly Consilium Acquisition Corp I, Ltd; changed to CSLM Acquisition Corp on July 18, 2023.
  • Market and Trading:

    • Listed on Nasdaq until January 22, 2025, when securities were delisted due to not completing a business combination within the required timeframe.
    • Currently trading OTC under symbols:
      • Units: CSLUF
      • Class A ordinary shares: CSLMF
      • Warrants: CSLWF
      • Rights: CSLRF
    • As of April 11, 2025:
      • 6,116,436 Class A ordinary shares issued and outstanding.
      • 1 Class B ordinary share issued and outstanding.
  • Business Model and Strategy:

    • Aim to identify and acquire a target primarily in frontier growth markets with characteristics such as:
      • Sector leadership, scalability, underpenetrated markets.
      • Strong management teams and attractive valuations.
      • Focus on ESG and social empowerment.
    • Will seek targets with a fair market value at least 80% of trust assets at t***he time of agreement.
    • Target industries include "new economy" sectors with established models and growth potential.
  • Legal and Regulatory:

    • Subject to risks including geopolitical instability, corruption laws such as the FCPA, and international laws affecting operations.
    • Board of directors includes 5 members, with 3 independent directors.
  • Current Status:

    • No revenue or operating history.
    • Focused on target evaluation and combination activities.
    • Has a net income of approximately $172,315 for the fiscal year ending December 31, 2024.
    • Earned dividend income of about $2,032,507 in 2024, offset by legal, accounting, insurance, interest expenses, and formation costs.

This summary reflects the company's current operational status, capital structure, management expertise, and strategic focus on acquiring or merging with entities primarily in frontier growth markets, with no ongoing business activities or revenue generation yet.