Company: CSTAF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110128
Chunk: 31

Company: Constellation Acquisition Corp I
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 exceeds $18.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which notice of the redemption is given to the warrant holders (the “Reference Value”). 

15

Redemptions of warrants for cash when the
price per Class A ordinary share equals or exceeds $10.00.

Once the warrants become exercisable, the
Company may call the warrants for redemption (except as described herein with respect to the Private Placement Warrants):

    ● in whole and not in part;           ● at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption; provided that during such 30 day period holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares determined by reference to the table in the registration statement, based on the redemption date and the “fair market value” of the Class A ordinary shares (as defined below) except as otherwise described below; provided, further, that if the warrants are not exercised on a cashless basis or otherwise during such 30 day period, the Company shall redeem such warrants for $0.10 per share;           ● if, and only if, the Reference Value equals or exceeds $10.00 per share (as adjusted for share subdivisions, share dividends, reorganizations, recapitalizations and the like) on the trading day before the Company sends the notice of redemption to the warrant holders; and           ● if the Reference Value is less than $18.00 per share (as adjusted for share subdivisions, share dividends, reorganizations, recapitalizations and the like), the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding Public Warrants. 

The “fair market value” of the Class
A ordinary shares shall mean the volume-weighted average price of the Class A ordinary shares for the ten (10) trading days immediately
following the date on which the notice of redemption is sent to the holders of warrants. This redemption feature differs from the typical
warrant redemption features used in other blank check offerings. The Company will provide the warrant holders with the final fair market
value no later than one business day after the 10-day trading period described above ends. In no event will