Company: CSTAF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044280
Chunk: 95

Company: Constellation Acquisition Corp I
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 95
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 the Conversion Warrants would be identical
to the warrants issued by the Company to affiliates of the Sponsor in a private placement that was consummated in connection with the
Company’s IPO. The affiliates of the Sponsor shall be entitled to certain registration rights relating to the Conversion Warrants.
On May 3, 2021, the 2021 Note was amended to remove the option to convert any unpaid balance of the 2021 Note into Private Placement Warrants. As
of March 31, 2025 and December 31, 2024, there were no amounts outstanding under the 2021 Note. 

During the period ended December 31, 2022, the
Company issued a number of unsecured promissory notes (the “2022 Notes”) totaling $258,780 to certain executive officers and
affiliates of the Company. The proceeds of the 2022 Notes will be used as general working capital purposes. The 2022 Notes bear no interest
and are payable in full upon the earlier to occur of (i) the Termination Date or (ii) the consummation of the Company’s Business
Combination. Failure to pay the principals 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 2022 Notes may be accelerated. As of March 31, 2025
and December 31, 2024, $227,208 were outstanding under the 2022 Notes.

On January 30, 2024, the Company issued an unsecured
promissory note in the principal amount of $1,660,000 (the “2024 Note”) 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 March
31, 2025 and December 31, 2024, $1,565,000 and $1,365,000 was outstanding under the 2024 Note, respectively.

As of March 31, 2025 and December 31, 2024, $1,792,208
and $1,592,208 were outstanding under the promissory notes to the Sponsor, respectively.

Administr