Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 350

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1A
Chunk 350
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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 8,625,000 shares of the Company’s Class
B ordinary shares were transferred to the Sponsor for $25,000. The Founder Shares included an aggregate of up to 1,125,000 shares subject
to forfeiture if the over-allotment option was not exercised by the underwriters in full. On January 29, 2021, the underwriters partially
exercised their over-allotment option, hence, 250,000 Founder Shares were no longer subject to forfeiture, and on March 1, 2021, the remaining
875,000 Founder Shares were forfeited by the Sponsor.

F-19

The Sponsor, officers and directors have agreed
not to transfer, assign or sell any of their Founder Shares until the earlier to occur of (i) one year after the date of the consummation
of the initial Business Combination or (ii) subsequent to the initial Business Combination, (x) if the closing price of the Class A ordinary
shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations