Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 1174

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 7
Chunk 1174
---
 Account with respect to their Founder Shares if the Company fails to complete its initial Business Combination within the
Combination Period.

The Company’s Sponsor has agreed that it
will be liable to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company,
or a prospective target business with which the Company has entered into a written letter of intent, confidentiality or similar agreement
or Business Combination agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per Public Share
and (ii) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less
than $10.00 per share due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply
to any claims by a third party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust
Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters
of the IPO against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”).
However, the Company has not asked its Sponsor to reserve for such indemnification obligations, nor has the Company independently verified
whether its Sponsor has sufficient funds to satisfy its indemnity obligations and believe that the Company’s Sponsor’s only
assets are Securities of the Company. Therefore, the Company cannot assure that its Sponsor would be able to satisfy those obligations.

F-8

On January 26, 2023, the Old Sponsor underwent
a reorganization pursuant to which the limited partners of the Old Sponsor transferred all of their limited partnership interests to Constellation
Sponsor LP, a Delaware limited partnership (the “Sponsor”). On January 26, 2023, the Old Sponsor liquidated pursuant to applicable
law by the retirement of the general partner of the Old Sponsor (the second to last partner of the Sponsor) and all Securities held by
the 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 Sponsor was transferred to affiliates of Antarctica Capital Partners, LLC, including Antarctica Endurance Manager,
LLC the current general partner of the Sponsor.

On January 27, 2023, the Company held an extraordinary
general meeting of shareholders