Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 310

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1A
Chunk 310
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 of our three independent directors. In March 2021, each independent director forfeited 4,375 founder
shares and our Old Sponsor forfeited 861,875 founder shares. The founder shares (including the Class A ordinary shares issuable upon exercise
thereof) may not, subject to certain limited exceptions, be transferred, assigned or sold by the holder.

Affiliates of our Old Sponsor purchased 5,466,667 private placement
warrants for a purchase price of $8,200,000 in a private placement that occurred simultaneously with the closing of the IPO, which were
subsequently transferred to our Sponsor in the sponsor handover. As such, interest in this transaction for affiliates of our Sponsor is
valued at $8,200,000. The private placement warrants and Class A ordinary shares issued upon the exercise or conversion thereof may not,
subject to certain limited exceptions, be transferred, assigned or sold by the holder.

As more fully discussed in the section of this Annual Report entitled
“Item 10. Directors, Executive Officers and Corporate Governance-Conflicts of Interest,” if any of our officers or directors
becomes aware of a Business Combination opportunity that falls within the line of business of any entity to which he or she has then-current
fiduciary or contractual obligations, he or she will honor his or her fiduciary or contractual obligations to present such opportunity
to such entity. Our officers and directors currently have certain relevant fiduciary duties or contractual obligations that may take priority
over their duties to us.

78

We currently maintain our executive offices at 200 Park Avenue, 32nd
Floor New York, NY, 10166. The cost for our use of this space is included in the fee of up to $10,000 per month that we will pay to our
Sponsor for office space, administrative and support services, and other obligations of our Sponsor, commencing on the date that our securities
are first listed on NYSE. Upon completion of our Business Combination or our liquidation, we will cease paying these monthly fees.

No compensation of any kind, including finder’s and consulting
fees, will be paid to our Sponsor, officers and directors, or any of their respective affiliates, for services rendered prior to or in
connection with the completion of a Business Combination, other than $25,000 that was paid to each of our independent directors in 2023
for their role on a special committee to consider a potential business combination. However, these individuals