Company: CSTAF
Filing Date: 2025-01-10
Form Type: DEF 14A
Source: 0001213900-25-002661
Chunk: 69

Company: Constellation Acquisition Corp I
Filing Date: 2025-01-10
Form: DEF 14A
Chunk 69
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 of the Company’s Class B Ordinary Shares to convert into Class A Ordinary Shares on a one -for -onebasis at any time and from time to time prior to the closing of a business combination at the election of the holder. Upon conversion of the Class B Ordinary Shares to Class A Ordinary Shares, such Class A Ordinary Shares converted from Class B Ordinary Shares shall not be entitled to receive funds from the Trust Account through redemptions or otherwise pursuant to the terms of the Letter Agreement entered into by and among the Company and each of its officers and directors in connection with the Initial Public Offering. Additionally, the Class A Ordinary Shares converted from Class B Ordinary Shares will be subject to all of the restrictions applicable to Class B Ordinary Shares under the terms of the Letter Agreement, including the prohibition on transferring, assigning or selling Class B Ordinary Shares until the earlier to occur of: (A) one year after the completion of a business combination or (B) the date on which the Company completes a business combination with one or more businesses that results in the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property. Reasons for the Founder Share Amendment Proposal The Company’s Memorandum and Articles of Association provides that the Class B Ordinary Shares automatically convert into Class A Ordinary Shares on a one -for -onebasis, concurrently with or immediately following the consummation of a business combination. The purpose of the Founder Share Amendment Proposal is to provide the holders of the Class B Ordinary Shares with the flexibility to assist the Company in retaining investors and meeting the trading requirements of its Class A Ordinary Shares if necessary or desirable in connection with the Extension Amendment Proposal and the consummation of the Company’s business combination. If the Founder Share Amendment Proposal Is Not Approved If the Founder Share Amendment Proposal is not approved, the holders of Class B Ordinary Shares will not be able to convert Class B Ordinary Shares to Class A Ordinary Shares prior to the completion of a business combination. If the Founder Share Amendment Proposal is not approved, we believe it may reduce our flexibility to maintain a listing of our Class A Ordinary Shares. If the Founder Share Amendment Proposal Is Approved If both the Extension Amendment Proposal and the Founder Share Amendment Proposal are approved, the Company will file the amendment to the Memorandum and Articles of Association with the Cayman Registrar to allow the holders of Class B Ordinary Shares to convert the Class B Ordinary Shares to Class A Ordinary Shares on a one -for -onebasis at any point prior to the closing of a Business Combination at the election of the holder. The Company