Company: CSTAF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044280
Chunk: 106

Company: Constellation Acquisition Corp I
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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 management 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.

22

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