Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 230

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1A
Chunk 230
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 a smaller number of Class A ordinary shares upon a cashless exercise of the warrants they
hold.

The warrants may become exercisable and redeemable for
a security other than the Class A ordinary shares, and you will not have any information regarding such other security at this time.

In certain situations, including if we are not the surviving entity
in our Business Combination, the warrants may become exercisable for a security other than the Class A ordinary shares. As a result, if
the surviving company redeems your warrants for securities pursuant to the warrant agreement, you may receive a security in a company
of which you do not have information at this time. Pursuant to the warrant agreement, the surviving company will be required to use commercially
reasonable efforts to register the issuance of the security underlying the warrants within twenty business days of the closing of a Business
Combination.

32

We may issue additional Class A ordinary shares or preference
shares to complete our Business Combination or under an employee incentive plan after completion of our Business Combination. We may also
issue Class A ordinary shares upon the conversion of the founder shares at a ratio greater than one-to-one at the time of our Business
Combination as a result of the anti-dilution provisions contained in our amended and restated memorandum and articles of association.
Any such issuances would dilute the interest of our shareholders and likely present other risks.

Our amended and restated memorandum and articles of association authorizes
the issuance of up to 200,000,000 Class A ordinary shares, par value $0.0001 per share, 20,000,000 Class B ordinary shares, par value
$0.0001 per share, and 1,000,000 preference shares, par value $0.0001 per share. As of December 31, 2024, there were 190,032,316 and 19,850,000
authorized but unissued Class A ordinary shares and Class B ordinary shares, respectively, available for issuance which amount does not
take into account shares reserved for issuance upon exercise of outstanding warrants or shares issuable upon conversion of the Class B
ordinary shares, if any. The Class B ordinary shares are automatically convertible into Class A ordinary shares at the time of our Business
Combination as described herein and in our amended and restated memorandum and articles of association. Immediately after the IPO, there
were no preference shares issued and outstanding.

We may issue a substantial number of additional Class A ordinary shares
or preference shares to complete