Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 83

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1
Chunk 83
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 for Business Combination
opportunities. Our Sponsor, officers and directors are not currently aware of any specific opportunities for us to complete our Business
Combination with any entities with which they are affiliated, and there have been no substantive discussions concerning a Business Combination
with any such entity or entities.

Although we will not be specifically focusing on, or pursuing, any
transaction with any affiliated entities, we would pursue such a transaction if we determined that such affiliated entity met our criteria
for a Business Combination as set forth in “Business-Effecting Our Business Combination-Evaluation of a Target Business and Structuring
of Our Business Combination” and such transaction was approved by a majority of our independent and disinterested directors. Despite
our agreement to obtain an opinion from an independent investment banking firm or an independent valuation or accounting firm regarding
the fairness to our company from a financial point of view of a Business Combination with one or more domestic or international businesses
affiliated with our Sponsor, executive officers, directors or initial shareholders, potential conflicts of interest still may exist and,
as a result, the terms of the Business Combination may not be as advantageous to our public shareholders as they would be absent any conflicts
of interest.

Since our Sponsor, executive officers and directors will
lose their entire investment in us if our Business Combination is not completed (other than with respect to public shares they may acquire
during or after the IPO), a conflict of interest may arise in determining whether a particular Business Combination target is appropriate
for our Business Combination.

On November 20, 2020, our Old Sponsor paid $25,000, or approximately
$0.003 per share, to cover for certain offering costs in consideration for 8,625,000 founder shares, which were subsequently transferred
to our Sponsor in the sponsor handover. Prior to the initial investment in the company of $25,000 by the Old Sponsor, the company had
no assets, tangible or intangible. The per share price of the founder shares was determined by dividing the amount contributed to the
company by the number of founder shares issued. The founder shares will be worthless if we do not complete a Business Combination. In
addition, affiliates of our Old Sponsor have committed, pursuant to a written agreement, to purchase 5,466,667 private placement warrants,
at a purchase price of $8,200,000, in a private placement that will close simultaneously with the closing of the IPO; such private placement
warrants were subsequently transferred to our Sponsor in the sponsor hand