Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 383

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1B
Chunk 383
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 issuance of Class A ordinary shares to holders of the Company’s
Class B ordinary shares upon the exercise of the right of a holder of the Class B ordinary shares to convert such holder’s Class
B ordinary shares 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; 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 OTCQX®
Best Market and the OTCQB® Venture Market or (iii) where the board has determined it is otherwise necessary.

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In connection with the vote to approve the 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 approximately $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 $778,970.65 and there are 7,664,302 Class A Ordinary Shares outstanding, of which 64,302
Class A ordinary shares are 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 (as defined below), which Extension Funds the Company deposited into the Company’s Trust Account for its public shareholders.
This deposit enables 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”).