Financial Performance - As of September 30, 2023, the company reported a net income of $857,708 for the three months ended, consisting of $1,170,072 realized gain and dividends on marketable securities held in the Trust Account[101]. - For the nine months ended September 30, 2023, the company had a net income of $4,569,632, which included $5,594,241 realized gain and dividends on marketable securities[102]. Cash and Working Capital - The company had $64,500 in cash and a working capital deficit of $(1,082,658) as of September 30, 2023, compared to $224,474 in cash and $151,951 in working capital as of December 31, 2022[105]. Initial Public Offering (IPO) - The company completed its Initial Public Offering on January 18, 2022, raising gross proceeds of $189,750,000 from the sale of 18,975,000 units[95]. - A total of $191,647,500 from the IPO and private placement warrants was placed in a U.S.-based trust account, which will not be released until the completion of a business combination[98]. - The underwriter of the IPO is entitled to a deferred discount of $6,641,250, payable only if the company completes a business combination[109]. Business Combination and Extensions - The company has extended the time to complete a business combination until October 18, 2024, requiring a deposit of $70,000 for each of the fifteen additional one-month extension periods[99]. Expenses and Financial Concerns - The company incurred $99,540 in legal and accounting expenses for the three months ended September 30, 2023, and $426,071 for the nine months ended[101][102]. - The company has incurred significant costs in pursuit of its financing and acquisition plans, raising substantial doubt about its ability to continue as a going concern within one year from the date the financial statements are issued[107][108]. - The company has no long-term debt or capital lease obligations as of September 30, 2023[109].
CSLM Acquisition Corp.(CSLMU) - 2023 Q3 - Quarterly Report