Company: CSTAF
Filing Date: 2025-01-10
Form Type: DEF 14A
Source: 0001213900-25-002661
Chunk: 91

Company: Constellation Acquisition Corp I
Filing Date: 2025-01-10
Form: DEF 14A
Chunk 91
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 and meeting certain conditions under Rule 2a -7of the Investment Company Act. In connection with the First Extension Meeting, Constellation instructed Continental to liquidate the U.S. government treasury obligations or money market funds held in the Trust Account and thereafter to maintain the funds in the Trust Account in cash in an interest -bearingdemand deposit account at a bank until the earlier of the consummation of a Business Combination and the liquidation of Constellation. Interest on such deposit account is currently approximately 3.5% per annum, but such deposit account carries a variable rate and Constellation cannot assure you that such rate will not decrease or increase significantly. First Extension Our Initial Public Offering prospectus and Memorandum and Articles of Association provided that we had until January 29, 2023 (the date which was 24 months after the consummation of the Initial Public Offering) to complete an initial Business Combination. As stated in the Current Report on Form 8 -K, as filed with SEC on February 1, 2023, on January 26, 2023, Constellation held an extraordinary general meeting of shareholders and approved a proposal to amend our Memorandum and Articles of Association to extend the date by which we have to consummate an initial Business Combination from January 29, 2023 to April 29, 2023, and to allow Constellation, without another shareholder vote, to elect to extend the termination date to consummate a Business Combination on a monthly basis for up to nine times by an additional one month each time after April 29, 2023, by resolution of the Board if requested by the Sponsor, and upon five days’ advance notice prior to the applicable termination date, until January 29, 2024, or a total of up to twelve months after January29, 2023. In connection with the approval of the extension at the First Extension Meeting, the holders of 26,506,157 Class A Ordinary Shares properly exercised their right to redeem their shares for cash at a redemption price of approximately $10.17 per share, for an aggregate redemption amount of approximately $269,485,746. As disclosed in the definitive proxy statement filed by the Company with the SEC on December 30, 2022, relating to the First Extension Meeting, the Sponsor agreed that if the Extension Amendment Proposal is approved, it or the Lender will contribute to the Company as a loan, within ten (10) business days of the date of the First Extension Meeting, $450,000