I'm not an engineer, just a novice hobbyist, so I'm not sure my terminology "compression clamp" is correct, but I'm attaching a drawing showing what I'm trying to accomplish.
This plate will be placed over two rods and then "screwed (partly) shut" so that the plate will "squeeze" the rods and not budge under normal operational stresses. The machine screw is inserted into the hole the pink arrow points at and threads into the hole the yellow arrow points at.
My question: It seems to me that the threads will align properly if the gap between those two sections is cut in advance of the threading operation. Is that right? Or should the pink-arrow hole be left smooth-walled and only the yellow-arrow hole be threaded?