Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 242

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1A
Chunk 242
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included in the holding period of a U.S. investor holding our Class A ordinary shares or warrants, the U.S. investor may be subject to
adverse U.S. federal income tax consequences and may be subject to additional reporting requirements. Our PFIC status for our current
and subsequent taxable years may depend on whether we qualify for an exception to PFIC status for certain newly formed companies (the
“start-up exception”). Depending on the particular circumstances the application of the start-up exception may be subject
to uncertainty, and there cannot be any assurance that we will qualify for the start-up exception. Accordingly, there can be no assurances
with respect to our status as a PFIC for our current taxable year or any subsequent taxable year (and, in the case of the start-up exception,
potentially not until after the two taxable years following our initial taxable year). Our actual PFIC status for any taxable year will
not be determinable until after the end of such taxable year. Moreover, if we determine we are a PFIC for any taxable year, we will endeavor
to provide to a U.S. investor such information as the Internal Revenue Service may require, including a PFIC Annual Information Statement,
in order to enable the U.S. investor to make and maintain a “qualified electing fund” election, which could mitigate certain
of the adverse U.S. federal income tax consequences of our PFIC status to U.S. investors, but there can be no assurance that we will timely
provide such information, and such election would be unavailable with respect to our warrants in all cases. We urge U.S. investors to
consult their tax advisers regarding the possible application of the PFIC rules.

39

We may reincorporate in another jurisdiction in connection
with our Business Combination and such reincorporation may result in taxes imposed on shareholders.

We may, in connection with our Business Combination and subject to
requisite shareholder approval under the Companies Act, reincorporate in the jurisdiction in which the target company or business is located
or in another jurisdiction. The transaction may require a shareholder or warrant holder to recognize taxable income in the jurisdiction
in which the shareholder or warrant holder is a tax resident or in which its members are resident if it is a tax transparent entity. We
do not intend to make any cash distributions to shareholders or warrant holders to pay such taxes. Shareholders or warrant holders may
be subject to withholding taxes or other taxes with respect to their ownership of us after the reincorporation.

We are subject