silium Acquisition I(CSLM) - 2024 Q1 - Quarterly Report

Financial Performance - As of March 31, 2024, the Company's marketable securities held in the Trust Account were valued at $52,866,260, an increase from $51,976,918 as of December 31, 2023, reflecting a growth of approximately 1.72%[124] - The Company completed the private sale of 7,942,500 private placement warrants at a purchase price of $1.00 per warrant, generating gross proceeds of $7,942,500[129] Business Combination and Strategy - The Company has extended the time to complete a business combination by fifteen additional one-month periods until October 18, 2024, requiring a deposit of $70,000 into the Trust Account for each extension[131] - The Company is not limited to a particular industry or geographic location for business combinations, indicating a broad market expansion strategy[128] Shareholder Information - The Company is authorized to issue 50,000,000 Class B ordinary shares, with only one share issued and outstanding as of March 31, 2024[115] - The holders of Founder Shares and Private Placement Warrants are entitled to registration rights, allowing them to require the Company to register these securities for resale[122] Warrants and Pricing - The exercise price of the public warrants will be adjusted if the Company issues additional Class A ordinary shares at an effective price of less than $9.20 per share, with the adjustment ensuring the exercise price is equal to 115% of the higher of the market value and the newly issued price[121] - The Company will redeem public warrants at a price of $0.01 per warrant if the closing price of Class A ordinary shares equals or exceeds $18.00 for any 20 trading days within a 30-trading day period[120] Risk Factors - The Company’s financial condition and results of operations are subject to risks associated with early-stage and emerging growth companies[128] Internal Controls - The Company’s disclosure controls and procedures were evaluated as effective by the Chief Executive Officer and Chief Financial Officer as of March 31, 2024[111]