Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 272

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1A
Chunk 272
---
 has broad discretion with respect to the specific application
of the net proceeds of the Initial Public Offering and the sale of the private placement warrants, although substantially all of the net
proceeds are intended to be applied generally toward consummating a Business Combination.

We will only have until the Termination Date to complete an initial
Business Combination. If we do not complete a Business Combination by the Termination Date, we will (i) cease all operations except for
the purposes of winding up; (ii) as promptly as reasonably possible, but not more than ten business days thereafter, redeem the Public
Shares for a per share pro rata portion of the Trust Account, including interest not previously released to us to fund our working capital
requirements (less taxes payable) and (iii) as promptly as possible following such redemption, dissolve and liquidate the balance of our
net assets to our remaining shareholders, as part of our plan of dissolution and liquidation. Our Sponsor and initial shareholders entered
into the Letter Agreement with us, pursuant to which they have waived their rights to participate in any redemption with respect to their
Founder Shares; however, if the initial shareholders or any of our officers, directors or affiliates acquire ordinary shares in or after
the Initial Public Offering, they will be entitled to a pro rata share of the Trust Account upon our redemption or liquidation in the
event we do not complete a Business Combination within the required time period. In the event of such distribution, it is possible that
the per share value of the residual assets remaining available for distribution (including the Trust Account assets) will be less than
the Initial Public Offering price per unit in the Initial Public Offering.

On January 27, 2023, we held an extraordinary general meeting of shareholders
to amend the Company’s amended and restated memorandum and articles of association to extend the date by which the Company has to
consummate a Business Combination from January 29, 2023 to April 29, 2023 and to allow the Company, without another shareholder vote,
to elect to extend the 2023 Termination Date to consummate a Business Combination on a monthly basis for up to nine times by an additional
one month each time after the 2023 Articles Extension Date, by resolution of the board if requested by the Sponsor, and upon five days’
advance notice prior to the applicable Termination Date, until January 29, 2024, or a total of up to twelve months after the 2023 Termination