Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 34

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1
Chunk 34
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 and, thus, may be reluctant to enter into a Business Combination transaction with us.

18

The ability of our public shareholders to exercise redemption
rights with respect to a large number of our shares may not allow us to complete the most desirable Business Combination or optimize our
capital structure.

At the time we enter into an agreement for our Business Combination,
we will not know how many shareholders may exercise their redemption rights, and therefore will need to structure the transaction based
on our expectations as to the number of shares that will be submitted for redemption.

If a large number of shares are submitted for redemption, we may need
to restructure the transaction to reserve a greater portion of the cash in the Trust Account or arrange for additional third-party financing.
Raising additional third-party financing may involve dilutive equity issuances or the incurrence of indebtedness at higher than desirable
levels. The above considerations may limit our ability to complete the most desirable Business Combination available to us or optimize
our capital structure. The amount of the deferred underwriting commissions payable to the underwriters will not be adjusted for any shares
that are redeemed in connection with a Business Combination. The per-share amount we will distribute to shareholders who properly exercise
their redemption rights will not be reduced by the deferred underwriting commission and after such redemptions, the amount held in trust
will continue to reflect our obligation to pay the entire deferred underwriting commissions.

The ability of our public shareholders to exercise redemption
rights with respect to a large number of our shares could increase the probability that our Business Combination would be unsuccessful
and that you would have to wait for liquidation in order to redeem your shares.

If our Business Combination agreement requires us to use a portion
of the cash in the Trust Account to pay the purchase price, or requires us to have a minimum amount of cash at closing, the probability
that our Business Combination would be unsuccessful is increased. If our Business Combination is unsuccessful, you would not receive your
pro rata portion of the funds in the Trust Account until we liquidate the Trust Account. If you are in need of immediate liquidity, you
could attempt to sell your shares in the open market; however, at such time our shares may trade at a discount to the pro rata amount
per share in the Trust Account. In either situation, you may suffer a material loss on your investment or lose the benefit of funds expected
in connection with our redemption until we liquidate or you are able to sell your shares in the open market.

The requirement that we