Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 525

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1C
Chunk 525
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 and the amount of expenses that will
be reimbursed.

There is no cap or ceiling on the reimbursement of out-of-pocket expenses
incurred by such persons in connection with activities on our behalf.

In November 2020, we issued an unsecured promissory note to one of
our executive officers. This loan was non-interest bearing, unsecured and due at the earlier of December 31, 2021 or the closing of the
IPO. At December 31, 2020, the amount borrowed under the note was $1,300. During the period from January 1, 2021 to January 28, 2021,
an additional $88,540 was borrowed under the promissory note, and on January 29, 2021, the balance of $89,840 repaid in full from the
proceeds of the IPO, and is no longer available to be drawn upon.

On February 23, 2021, we issued an unsecured promissory note in the
amount of up to $699,999 to certain affiliates of our Old Sponsor. The proceeds of the note, which may be drawn down from time to time
until we consummate our Business Combination, will be used as general working capital purposes. The note bears no interest and is payable
in full upon the earlier to occur of (i) the Termination Date or (ii) the consummation of the company’s Business Combination. A
failure to pay the principal within five business days of the date specified above or the commencement of a voluntary or involuntary bankruptcy
action shall be deemed an event of default, in which case the note may be accelerated. The affiliates of our Old Sponsor had the option
to convert any unpaid balance of the note into private placement warrants (the “Conversion Warrants”), each warrant exercisable
for one ordinary share of the company at an exercise price of $1.50 per share. The terms of the Conversion Warrants would be identical
to the warrants issued by the company to affiliates of our Old Sponsor in a private placement that was consummated in connection with
our IPO. The affiliates of our Old Sponsor shall be entitled to certain registration rights relating to the Conversion Warrants. On May
3, 2021, the note was amended to remove the option to convert any unpaid balance of the note into private placement warrants.

During the year ended December 31, 2022, we issued a number of unsecured
promissory notes (