Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 1955

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 12
Chunk 1955
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 completion of a Business Combination and rights to require the
Company to register for resale such Securities pursuant to Rule 415 under the Securities Act. In addition, if the Sponsor affiliates acquire
shares in the IPO, they would become affiliates (as defined in the Securities Act) of the Company following the IPO, and the Company would
file a registration statement following the IPO to register the resale of the Public Shares purchased by the Sponsor affiliates (or their
nominees) in the IPO. The Sponsor affiliates will not be subject to any lock-up period with respect to any Public Shares they may purchase.
The registration rights agreement does not contain liquidated damages or other cash settlement provisions resulting from delays in registering
the Company’s Securities. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Underwriting Agreement

The underwriters had a 45-day option from the
date of the IPO to purchase up to an aggregate of 4,500,000 additional Units at the public offering price less the underwriting commissions
to cover over-allotments, if any. On January 29, 2021, the underwriters partially exercised the over-allotment option to purchase 1,000,000
Units, and were paid an underwriting discount in aggregate of $6,200,000. As of March 15, 2021, the remaining over-allotment option expired.

Additionally, the underwriters will be entitled
to a deferred underwriting discount of 3.5% of the gross proceeds of the IPO held in the Trust Account, or $10,850,000, upon the completion
of the Company’s initial Business Combination subject to the terms of the underwriting agreement.

Investment Agreement

On January 26, 2023, the Company, entered into
an Investment Agreement (the “Investment Agreement”) with the Old Sponsor, and Endurance Constellation, LLC, a Delaware limited
liability company (the “Investor”), pursuant to which the Investor agreed to contribute to the Old Sponsor an aggregate amount
in cash equal up to $3,000,000, which amount will be loaned to the Company in accordance with the Extension Note, in consideration for
which, the Sponsor shall issue to the Investor interests in certain equity securities.

In connection with the closing of the transactions
contemplated by the Investment Agreement, on January 26, 2023, the Old Sponsor underwent a reorganization pursuant to which the limited
partners of the Old Sponsor