Company: CSTAF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110128
Chunk: 32

Company: Constellation Acquisition Corp I
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 the warrants be exercisable
in connection with this redemption feature for more than 0.361 Class A ordinary shares per warrant (subject to adjustment).

On July 16, 2025, the Company’s Public
Warrants and Units started trading on the OTCID® Basic Market (“OTCID”). The main difference between OTCID
and OTCQB is that securities listed on the OTCID undergo additional quality review and have different listing standards than those on
the OTCQB, although all are tiers of the OTC Markets. The trading symbols for the Public Warrants and Units remained the same.

The transition to OTCID from OTCQB of the Company’s
Public Warrants and Units did not affect the Company’s business operations, its relationships with partners or employees or its
current SEC reporting obligations.

Note 4 — Private Placement

Simultaneously with the closing of the IPO, the
Sponsor purchased an aggregate of 5,466,667 Private Placement Warrants at a price of $1.50 per Private Placement Warrants, for an aggregate
purchase price of $8,200,000, in a private placement. A portion of the proceeds from the private placement was added to the proceeds
from the IPO held in the Trust Account.

Each of the Private Placement Warrants are identical
to the warrants sold as part of the Units in the IPO except that, so long as they are held by the Sponsor or its permitted transferees:
(1) they will not be redeemable by the Company; (2) they (including the Class A ordinary shares issuable upon exercise of these warrants)
may not, subject to certain limited exceptions, be transferred, assigned or sold by the Sponsor until 30 days after the completion of
the initial Business Combination; (3) they may be exercised by the holders on a cashless basis; and (4) they (including the Class A ordinary
shares issuable upon exercise of these warrants) are entitled to registration rights.

If the Company does not complete a Business Combination
within the Combination Period, the Private Placement Warrants will expire worthless.

Note 5 — Related Party Transactions

Founder Shares

On November 23, 2020, an executive officer of
the Company purchased 8,625,000 shares of the Company’s Class B ordinary shares for $25,000, or approximately $0.003 per share,
in connection with formation (the “Founder Shares”). On December 23, 2020, such 8