Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 375

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1B
Chunk 375
---
 of our Business
Combination, the ratio at which founder shares will convert into Class A ordinary shares will be adjusted (subject to waiver by holders
of a majority of the Class B ordinary shares then in issue) so that the number of Class A ordinary shares issuable upon conversion of
all Class B ordinary shares will equal, in the aggregate, on an as-converted basis, 99.16% of the sum of our ordinary shares issued and
outstanding following the 2023 Shareholder Meeting, 2024 Shareholder Meeting and 2025 Shareholder Meeting plus the number of Class A ordinary
shares and equity-linked securities issued or deemed issued in connection with our Business Combination (net of redemptions), excluding
the representative shares and any Class A ordinary shares or equity-linked securities issued, or to be issued, to any seller in our Business
Combination and any private placement warrants issued to our Sponsor, an affiliate of our Sponsor or any of our officers or directors.

With certain limited exceptions, the founder shares are not transferable,
assignable or salable (except to our officers and directors and other persons or entities affiliated with our Sponsor, each of whom are
subject to the same transfer restrictions) until the earlier of (A) one year after the completion of our Business Combination or (B) subsequent
to our Business Combination, (x) if the last reported sale price of the ordinary shares equals or exceeds $12.00 per share (as adjusted
for share splits, share dividends, rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading
days within any 30-trading day period commencing at least 150 days after our Business Combination, or (y) the date following the completion
of our Business Combination on which we complete a liquidation, merger, share exchange, reorganization or other similar transaction that
results in all of our public shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property.

Our Old Sponsor purchased 5,466,667 private placement warrants at a
price of $1.50 per warrant in a private placement that occurred concurrently with the closing of our initial public offering and generated
gross proceeds of $8,200,000. Subsequent to such purchase and pursuant to the 2023 Shareholder Meeting, such private placement warrants
were transferred to our Sponsor. Each private placement warrant is exercisable for one Class A ordinary share at a price of $11.50 per