Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 803

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 4
Chunk 803
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.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
share. The proceeds from the sale of the private placement warrants were added to the net proceeds from the initial public offering held
in the Trust Account. If we do not complete a Business Combination by the Termination Date, the private placement warrants will expire
worthless. The private placement warrants are non-redeemable and exercisable on a cashless basis so long as they are held by our Sponsor
or its permitted transferees. The sale of the private placement warrants was made pursuant to the exemption from registration contained
in Section 4(a)(2) of the Securities Act.

On January 30, 2024, the Sponsor converted an aggregate of 7,600,000
Class B ordinary shares into Public Shares on a one-for-one basis. The Sponsor waived any right to receive funds from the Company’s
Trust Account with respect to the Public Shares received upon such conversion and acknowledged that such shares will be subject to all
of the restrictions applicable to the original Class B Ordinary Shares under the terms of the letter agreement. As of the date of this
Annual Report, there are 7,664,302 Class A ordinary shares outstanding.

Use of Proceeds

Of the $318,200,000 in proceeds we received from our initial public
offering and the sale of the private placement warrants, a total of $310,000,000, including $10,850,000 payable to the underwriter for
defer