Company: CSTAF
Filing Date: 2025-01-10
Form Type: DEF 14A
Source: 0001213900-25-002661
Chunk: 60

Company: Constellation Acquisition Corp I
Filing Date: 2025-01-10
Form: DEF 14A
Chunk 60
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 based on the aggregate amount on deposit in the Trust Account of approximately $28,139,416.49 as of January7, 2025 (including interest not previously released to Constellation to pay its taxes), divided by the total number of then outstanding Public Shares. The redemption price per share will be calculated based on the aggregate amount on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to Constellation to pay its taxes, if any, two business days prior to the initially scheduled date of the Shareholder Meeting. The closing price of the Class A Ordinary Shares on OTCQX on January7, 2025 was $11.81. Accordingly, if the market price of the Class A Ordinary Shares were to remain the same until the date of the Shareholder Meeting, exercising redemption rights would result in a public shareholder receiving approximately $0.07 more per share than if the shares were sold in the open market (based on the per share redemption price as of January7, 2025). Constellation cannot assure shareholders that they will be able to sell their Class A Ordinary Shares in the open market, even if the market price per share is lower than the redemption price stated above, as there may not be sufficient liquidity in its securities when such shareholders wish to sell their shares. Constellation believes that such redemption right enables its public shareholders to determine whether or not to sustain their investments for an additional period if Constellation does not complete a Business Combination on or before the Termination Date. Reasons for the Extension Amendment Proposal Constellation’s Memorandum and Articles of Association provide that Constellation has until January 29, 2025 to complete a Business Combination. Constellation and its officers and directors agreed that they would not seek to amend Constellation’s Memorandum and Articles of Association to allow for a longer period of time to complete a Business Combination unless Constellation provided holders of its Public Shares with the right to seek redemption of their Public Shares in connection therewith. The Board believes that it is in the best interests of Constellation shareholders that the Articles Extension be obtained so that Constellation will have an additional amount of time to consummate a Business Combination. Without the Articles Extension, Constellation believes that Constellation will not be able to complete a Business Combination on or before January 29, 2025. If that were to occur, Constellation would be forced to liquidate. The Extension Amendment Proposal is essential to allowing Constellation additional time to consummate a Business Combination. Approval of the