Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 740

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 3
Chunk 740
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 the consummation of the Business Combination. The 2024 Note bears no interest and is due and payable upon
the Business Combination. As of December 31, 2024, $1,365,000 was outstanding under the 2024 Note.

In addition, in order to finance transaction costs in connection with
an intended Business Combination, our Sponsor or an affiliate of our Sponsor or certain of our officers and directors may, but are not
obligated to, loan us funds as may be required. If we complete a Business Combination, we may repay such loaned amounts out of the proceeds
of the Trust Account released to us. In the event that the Business Combination does not close, we may use a portion of the working capital
held outside the Trust Account to repay such loaned amounts but no proceeds from our Trust Account would be used for such repayment. Up
to $1,500,000 of such loans may be convertible into warrants at a price of $1.50 per warrant at the option of the lender. The warrants
would be identical to the private placement warrants, including as to exercise price, exercisability and exercise period. The terms of
such loans by our officers and directors, if any, have not been determined and no written agreements exist with respect to such loans.
We do not expect to seek loans from parties other than our Sponsor, members of our team or any of their affiliates as we do not believe
third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our Trust
Account.

79

After our Business Combination, members of our team who remain with
us may be paid consulting, management or other fees from the combined company with any and all amounts being fully disclosed to our shareholders,
to the extent then known, in the tender offer or proxy solicitation materials, as applicable, furnished to our shareholders. It is unlikely
the amount of such compensation will be known at the time of distribution of such tender offer materials or at the time of a general meeting
held to consider our Business Combination, as applicable, as it will be up to the directors of the post-combination business to determine
executive and director compensation.

We have entered into a registration and shareholder rights agreement
pursuant to which our initial shareholders, and their permitted transferees, if any, will be entitled to certain registration rights with
respect to the private placement warrants, the securities issuable upon conversion of working capital loans (