Company: CSTAF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110128
Chunk: 120

Company: Constellation Acquisition Corp I
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 120
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 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 September
    30, 2025 and December 31, 2024, $227,208 is outstanding under the 2022 Notes.

    ●
    On January 18, 2023, the
    Company issued the 2023 Note in the amount of $230,000 to the Sponsor. The proceeds of the 2023 Note was used for general working
    capital purposes. The 2023 Note bears no interest and is payable in full upon the earlier to occur of (i) the consummation of the
    Company’s Business Combination or (ii) the date that the winding up of the Company is effective. A failure to pay the principal
    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 2023 Note may be accelerated. At the election of the Sponsor, all or a portion of the
    unpaid principal amount of the 2023 Note may be converted into warrants of the Company, at a price of $1.50 per warrant, each warrant
    exercisable for one Class A ordinary share of the Company. The warrants shall be identical to the Private Placement Warrants issued
    to the Sponsor at the time of the Company’s IPO. As of September 30, 2025 and December 31, 2024, $230,000 is outstanding under
    this 2023 Note.

    ●
    On January 30, 2023, the
    Company issued the Extension Note to the Sponsor. The Sponsor funded the initial principal amount of $450,000 on January 30, 2023.
    The Extension Note does not bear interest and matures upon closing of the Company’s Business Combination. In the event that
    the Company does not consummate a Business Combination, the Extension Note will be repaid only from amounts remaining outside of
    the Trust Account, if any. The proceeds of the Extension Note was deposited in the Trust Account. At the election of the payee, $1,270,000
    of the total principal amount of the Extension Note may be converted, in whole or in part, at the option of the lender into warrants
    of the Company at a