Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 378

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1B
Chunk 378
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2021. On January 29, 2021, we consummated
the Initial Public Offering of 31,000,000 units, at $10.00 per unit, generating gross proceeds of $310.0 million, and incurring offering
costs of $17,586,741 million, inclusive of $10,850,000 million in deferred underwriting commissions. On January 26, 2023, our Old Sponsor
underwent a reorganization pursuant to which the limited partners of our Old Sponsor transferred all of their limited partnership interests
to the Sponsor. On January 26, 2023, our Old Sponsor was liquidated pursuant to applicable law by the retirement of the general partner
of our Old Sponsor (the second to last partner of our Sponsor) and all securities held by our Old Sponsor were distributed by operation
of law to its sole remaining limited partner, the Sponsor, following which, on January 30, 2023, control of the Old Sponsor was transferred
to affiliates of Antarctica Capital Partners, LLC, including Antarctica Endurance Manager, LLC the general partner of the Sponsor.

Simultaneously with the closing of the Initial Public Offering, we
consummated the private placement of 5,466,667 private placement warrants, at a price of $1.50 per private placement warrant to our Old
Sponsor, which are now held by our Sponsor, generating gross proceeds to us of $8.2 million.

Since the closing of the Initial Public Offering and the Private Placement,
$310.00 million ($10.00 per unit) of the net proceeds of the Initial Public Offering and certain of the proceeds of the Private Placement
was placed in the Trust Account and was invested in permitted United States “government securities” within the meaning of
Section 2(a)(16) of the Investment Company Act having a maturity of 185 days or less or in money market funds meeting certain conditions
under Rule 2a-7 promulgated under the Investment Company Act that invest only in direct U.S. government treasury obligations. On January
27, 2023, we liquidated the U.S. government treasury obligations or money market funds held in the Trust Account.

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Our management has broad discretion with respect to the specific application
of the net proceeds of the Initial Public Offering and the sale of the private placement warrants, although substantially all of the net
proceeds are intended to be applied generally toward consummating a Business Combination.

We will only have until the