Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 493

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1C
Chunk 493
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 principal amount of the
2023 Note may be converted into warrants of the Company, at a price of $1.50 per warrant, each warrant exercisable for one Class A ordinary
share of the Company. The warrants shall be identical to the private placement warrants issued to the Sponsor at the time of the Company’s
IPO. As of December 31, 2024 and 2023, $230,000 is outstanding under this 2023 Note.

●On January 30, 2023, the Company issued an unsecured promissory
note, in the amount of $3,000,000 to the Sponsor (the “Extension Note”). The Sponsor funded the initial principal amount
of $450,000 on January 30, 2023. The Extension Note does not bear interest and matures upon closing of the Company’s Business Combination.
In the event that the Company does not consummate a Business Combination, the Extension Note will be repaid only from amounts remaining
outside of the Trust Account, if any. The proceeds of the Extension Note was deposited in the Trust Account. At the election of the payee,
$1,270,000 of the total principal amount of the Extension Note may be converted, in whole or in part, at the option of the lender into
warrants of the Company at a price of $1.50 per warrant, which warrants will be identical to the private placement warrants issued to
the Sponsor at the time of the IPO of the Company. As of December 31, 2024 and 2023, $2,951,000 and $2,901,000 is outstanding under this
Extension Note.

●On January 30, 2024, the Company issued an unsecured promissory
note (the “2024 Note”) in the amount of $1,660,000 to the Sponsor. The 2024 Note does not bear interest and matures upon
closing of the Business Combination. In the event that the Company does not consummate a Business Combination, the 2024 Note will be
repaid only from funds held outside of the Trust Account or will be forfeited, eliminated or otherwise forgiven. As of December 31, 2024,
$1,365,000 is outstanding under the 2024 Note.

We cannot provide any assurance that new financing
along the lines detailed above will be available to us on commercially acceptable terms, if at all. Further, we have until the Termination
Date to consummate