CSLM Digital Asset Acquisition Corp III, Ltd (KOYN)
KOYN 8-K filings, explained
Every material Form 8-K CSLM Digital Asset Acquisition Corp III, Ltd has filed with the SEC since December 02, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
KOYN, a SPAC, entered a business combination agreement with First Digital Group, the developer of the FDUSD stablecoin and Finance District, valuing First Digital at $250 million on a pre-money equity basis. Closing is expected in the first half of 2027 and requires approval by shareholders of both companies and regulatory approvals, so KOYN shareholders face deal execution risk.
Business combination agreement signed October 6, 2026; First Digital valued at $250 million pre-money equity, with no minimum cash condition
First Digital reported approximately $87 million in revenue for the fiscal year ended June 30, 2025
Closing expected in the first half of 2027, subject to shareholder, regulatory and Form F-4 effectiveness conditions
Non-binding term sheet with Millennial Trading Limited for a $25 million convertible note at a $12.00 conversion price; no assurance it will be finalized
On April 9, 2026, CSLM Digital Asset Acquisition Corp III, Ltd made its PFIC Annual Information Statement for the period from August 28, 2025 to December 31, 2025 available on its website. The statement gives U.S. shareholders per-share figures they need to complete IRS Form 8621, and it reports ordinary earnings of $0.0011226332 per Class A share per day and no net capital gain or distributions. The filing is a tax-compliance document rather than a financial results report.
Filed April 9, 2026 under Item 8.01 and attached as Exhibit 99.1; available at www.koynspac.com.
Covers the taxable period from August 28, 2025 to December 31, 2025.
Ordinary earnings of $0.0011226332 per Class A share per day; net capital gain stated as none.
No cash or other property distributions reported for the period; statement signed April 8, 2026 by CFO Vikas Mittal.
CSLM Digital Asset Acquisition Corp III (KOYN), a special purpose acquisition company, and stablecoin provider First Digital Group announced on December 2, 2025 that they have entered into a non-binding letter of intent for a potential business combination. The filing gives no deal terms, valuation or definitive agreement, and says no assurance can be given that a definitive agreement will be signed or the transaction completed.
Non-binding letter of intent announced December 2, 2025 with First Digital Group Ltd.
Combined company is expected to be publicly listed on a national securities exchange in the United States.
First Digital expects approximately US$80-$90 million in unaudited 2025 revenue, according to the attached press release.
Any transaction would require due diligence, a definitive agreement, board and shareholder approvals and regulatory approvals.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every CSLM Digital Asset Acquisition Corp III, Ltd filing is on SEC EDGAR ↗. 8-K briefs of other companies →