Company: CSTAF
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074972
Chunk: 16

Company: Constellation Acquisition Corp I
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 into Class A ordinary shares on a one-for-one basis at any time and from time to time prior to the closing of an initial Business
Combination at the election of the holder (the “Founder Share Amendment Proposal”); and (C) if required, an adjournment proposal
to adjourn, by way of ordinary resolution, the 2025 Shareholder Meeting to a later date or dates, if necessary, (i) to permit further
solicitation and vote of proxies if, based upon the tabulated vote at the time of the 2025 Shareholder Meeting, there are insufficient
Class A ordinary shares and Class B ordinary shares in the capital of the Company represented (either in person or by proxy) to approve
the 2025 Extension Amendment Proposal and the Founder Share Amendment Proposal, (ii) where the Company would not adhere to the initial
or continued trading requirements of OTCQB and the OTC Venture or (iii) where the Board has determined it is otherwise necessary.

In connection with the vote to approve the 2025
Extension Amendment Proposal and the Founder Share Amendment Proposal held on January 27, 2025, the holders of 2,303,382 Class A ordinary
shares properly exercised their right to redeem their shares for cash at a redemption price of approximately $11.91 per share, for an
aggregate redemption amount of $27,428,399. After the satisfaction of such redemptions and receipt of the initial deposit of $5,000 to
the Trust Account, the balance in the Trust Account was approximately $778,971 and there were 7,664,302 Class A ordinary shares outstanding,
of which 64,302 Class A ordinary shares were held by the Company’s public shareholders.

On February 25, 2025, the Company drew an aggregate
of $5,000 (the “Extension Funds”), as approved by unanimous director resolution, dated February 25, 2024, pursuant to the
2024 Note, which Extension Funds the Company deposited into the Company’s Trust Account for its public shareholders. This deposit
enabled the Company to extend the date by which it must complete its initial Business Combination from February 28, 2025 to March 29,
2025 (the “First 2025 Extension”). The First 2025 Extension was the first of eleven one-month extensions permitted under the
Company’s amended and restated memorandum and articles of association and provides the Company with additional time to complete
its initial Business Combination.

On