Company: CSTAF
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074972
Chunk: 82

Company: Constellation Acquisition Corp I
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 82
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 30, 2024, the Sponsor converted an
aggregate of 7,600,000 Class B ordinary shares, par value $0.0001 per share (the “Class B ordinary shares” and together with
the Class A ordinary shares, the “ordinary shares”) into Class A ordinary shares on a one-for-one basis. The Sponsor waived
any right to receive funds from the Trust Account with respect to the Class A ordinary shares received upon such conversion and acknowledged
that such shares will be subject to all of the restrictions applicable to the original Class B ordinary shares under the terms of that
certain letter agreement, dated as of January 26, 2021 (the “Letter Agreement”), by and among the Company and its initial
shareholders, directors and officers (as further amended by and among, the Company, its directors and officers, the Sponsor and other
parties thereto, on January 30, 2023). As of January 30, 2024, there were 9,967,684 Class A ordinary shares outstanding which were composed
of 7,600,000 non-redeemable Class A ordinary shares and 2,367,684 redeemable Class A ordinary shares.

In connection with the 2024 Shareholder Meeting,
the Sponsor agreed that the Sponsor (or one or more of its affiliates, members or third-party designees) (the “Lender”) shall
make a deposit into the Trust Account established in connection with the Company’s Initial Public Offering of $55,000, in exchange
for a non-interest bearing, unsecured promissory note issued by the Company to the Lender. In addition, in the event that the Company
has not consummated an initial Business Combination by February 29, 2024, without approval of the Company’s public shareholders,
the Company may, by resolution of the Company’s Board, if requested by the Sponsor, and upon five days’ advance notice prior
to the applicable Termination Date, extend the Termination Date up to eleven (11) times, each by one additional month (for a total of
up to eleven (11) additional months to complete a Business Combination), provided that the Lender will deposit $55,000 into the Trust
Account for each such monthly extension, for an aggregate deposit of up to $605,000 (if all eleven (11) additional monthly extensions
are exercised), in exchange for a non-interest bearing, unsecured promissory note issued by the Company