Fusemachines Inc., a leading provider of enterprise AI products and solutions and CSLM Acquisition Corp. (NASDAQ: CSLM), a special purpose acquisition company, have announced the signing of an agreement that will see Fusemachines listed as a public company.
DAI Magister, a boutique investment bank, advised on the transaction, working alongside both Fusemachines and CSLM to form the partnership that brought about the deal’s conclusion.
The final closure of the transaction is subject to stockholder approval from both Fusemachines and CSLM, alongside other standard closing conditions, with the company expected to be listed on Nasdaq under the ticker symbol “FUSE”.
Founded in Nepal in 2013, Fusemachines is a global provider of Enterprise AI products with a mission to democratise AI and drive clients’ AI transformations, regardless of where they are in their digital journeys. The milestone announcement makes Fusemachines the first Nepalese company to list on Nasdaq.
Victor Basta, CEO of DAI Magister, said: “It’s a privilege to have been involved in such a transformational deal, and we are proud to have been a part of what is a milestone transaction for Nepal as a nation.”
“Fusemachines will soon become one of the very few pure play AI stocks listed on Nasdaq, and is set to benefit from the secular trend of enterprises adopting AI across their business processes. I’m excited to see how this listing facilitates the continued growth of Fusemachines, and how the company’s progress brings the revolutionary benefits of AI to more organisations.”
Sameer Maskey, CEO and Founder of Fusemachines, added, “Being listed on NASDAQ is a pivotal milestone for us and a historical one for any company of Nepalese origin.
“Our business combination with CSLM positions us to strategically lead the way in shaping the future of democratising AI and leaving a lasting impact across industries. The additional capital and financial flexibility from this transaction will empower improved products and fuel growth and expansion.”
Charles Cassel, CEO and CFO of CSLM said, “We have been methodically searching to identify a long-term, co-investment opportunity for our affiliates, and we are very excited to be partnering with Fusemachines.
“With significant operations in Nepal, their cutting-edge development of AI engines and solutions for US and developed market enterprise clients is precisely the profile that we believe embodies the impact that investors can make and profit from in high growth opportunities available in Frontier and Emerging Markets.”