Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 19

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1
Chunk 19
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 will not proceed with redeeming our public shares, even if a public shareholder
has properly elected to redeem its shares, if a Business Combination does not close.

10

Our Sponsor and our team have entered into an agreement with us, pursuant
to which they agreed to waive their redemption rights with respect to their founder shares, private placement warrants and any public
shares purchased during or after IPO in connection with (i) the completion of our Business Combination and (ii) a shareholder vote to
approve an amendment to our amended and restated memorandum and articles of association (A) that would modify the substance or timing
of our obligation to provide holders of our Class A ordinary shares the right to have their shares redeemed in connection with our Business
Combination or to redeem 100% of our public shares if we do not complete our Business Combination within by the date by which we are
required to consummate a Business Combination pursuant to our amended and restated memorandum and articles of association, or (B) with
respect to any other provision relating to the rights of holders of our Class A ordinary shares or pre-Business Combination activity.

Limitations on Redemptions

OTCQX® Best Market and OTCQB® Venture Market rules require
that the Company cannot select any of its securities traded on OTCQX® Best Market or OTCQB® Venture Market for redemption other
than by lot or pro rata and the Company cannot set a redemption date earlier than fifteen days after the date a corporate action is taken
to authorize such redemption.

On January 29, 2024, our shareholders removed, by way of special resolution,
from our amended and restated memorandum and articles of association the Redemption Limitation in order to allow us to redeem our public
shares irrespective of whether such redemption would exceed the Redemption Limitation.

Manner of Conducting Redemptions

We will provide our public shareholders with the opportunity to redeem
all or a portion of their Class A ordinary shares upon the completion of our Business Combination either (i) in connection with a general
meeting called to approve the Business Combination or (ii) by means of a tender offer.

The decision as to whether we will seek shareholder approval of a
proposed Business Combination or conduct a tender offer will be made by us, solely in our discretion, and will be based on a variety
of factors such as the timing of the transaction and whether the terms of the transaction would require us to seek shareholder approval
under applicable law or stock exchange listing requirement or whether