Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 682

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 2
Chunk 682
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 B ordinary shares, upon the exercise of the right of a holder of the
Class B ordinary shares to convert such holder’s Class B ordinary shares into Class A ordinary shares on a one-for-one basis at
any time and from time to time prior to the closing of an initial business combination at the election of the holder; and (C) if required,
an adjournment proposal to adjourn, by way of ordinary resolution, the Shareholder Meeting to a later date or dates, if necessary, (i)
to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the Shareholder Meeting, there are
insufficient Class A ordinary shares and Class B ordinary shares in the capital of Constellation represented (either in person or by proxy)
to approve the 2025 Extension Amendment Proposal and the Founder Share Amendment Proposal, (ii) where Constellation would not adhere to
the initial or continued trading requirements of OTCQX® Best Market and the OTCQB® Venture Market or (iii) where the Board has
determined it is otherwise necessary.

F-25

In connection with the vote to approve the 2025 Extension Amendment
Proposal and the Founder Share Amendment Proposal held on January 27, 2025, the holders of 2,303,382 Class A ordinary shares properly
exercised their right to redeem their shares for cash at a redemption price of approximately $11.91 per share, for an aggregate redemption
amount of approximately $27,428,399. After the satisfaction of such redemptions and receipt of the initial deposit of $5,000 to the Trust
Account, the balance in the Trust Account was approximately $778,970.65 and there are 7,664,302 Class A ordinary shares outstanding, of
which 64,302 Class A ordinary shares are held by the Company’s public shareholders.

On February 25, 2025, the Company drew an aggregate
of $5,000 (the “Extension Funds”), as approved by unanimous director resolution, dated February 25, 2024, pursuant to the
2024 Note (as defined below), which Extension Funds the Company deposited into the Company’s Trust Account for its public shareholders.
This deposit enables the Company to extend the date by which it must complete its initial business combination from February 28, 2025
to March 29, 2025 (the “First 2025 Extension”). The First 2025 Extension is the first of