Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 699

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 3
Chunk 699
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 5,466,667 private placement warrants, at a price of $1.50 per private placement warrant to our Old
Sponsor, which are now held by our Sponsor, generating gross proceeds to us of $8.2 million.

Since the closing of the Initial Public Offering and the Private Placement,
$310.00 million ($10.00 per unit) of the net proceeds of the Initial Public Offering and certain of the proceeds of the Private Placement
was placed in the Trust Account and was invested in permitted United States “government securities” within the meaning of
Section 2(a)(16) of the Investment Company Act having a maturity of 185 days or less or in money market funds meeting certain conditions
under Rule 2a-7 promulgated under the Investment Company Act that invest only in direct U.S. government treasury obligations. On January
27, 2023, we liquidated the U.S. government treasury obligations or money market funds held in the Trust Account.

56

Our 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.

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