Company: CSTAF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044280
Chunk: 110

Company: Constellation Acquisition Corp I
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 110
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2025 Termination
Date, unless the closing of a Business Combination shall have occurred prior thereto; (B) to amend, by way of special resolution, the
Company’s memorandum and articles of association to permit for the issuance of Class A ordinary shares to holders of the Company’s
Class B ordinary shares upon the exercise of the right of a holder of the Class B ordinary shares to convert such holder’s Class
B ordinary shares into Class A ordinary shares on a one-for-one basis at any time and from time to time prior to the closing of an initial
Business Combination at the election of the holder; and (C) if required, an adjournment proposal to adjourn, by way of ordinary resolution,
the 2025 Shareholder Meeting to a later date or dates, if necessary, (i) to permit further solicitation and vote of proxies if, based
upon the tabulated vote at the time of the 2025 Shareholder Meeting, there are insufficient Class A ordinary shares and Class B ordinary
shares in the capital of the Company represented (either in person or by proxy) to approve the 2025 Extension Amendment Proposal and the
Founder Share Amendment Proposal, (ii) where the Company would not adhere to the initial or continued trading requirements of OTCQB and
the OTCQ Venture or (iii) where the board has determined it is otherwise necessary.

In connection with the vote to approve the 2025
Extension Amendment Proposal and the Founder Share Amendment Proposal held on January 27, 2025, the holders of 2,303,382 Class A ordinary
shares properly exercised their right to redeem their shares for cash at a redemption price of approximately $11.91 per share, for an
aggregate redemption amount of approximately $27,428,399. After the satisfaction of such redemptions and receipt of the initial deposit
of $5,000 to the Trust Account, the balance in the Trust Account was approximately $778,970.65 and there was 7,664,302 Class A ordinary
shares outstanding, of which 64,302 Class A ordinary shares are held by the Company’s public shareholders.

On February 25, 2025, the Company drew the Extension
Funds, in the aggregate amount of $5,000, as approved by unanimous director resolution, dated February 25, 2024, pursuant to the 2024
Note (as defined below), which Extension Funds the Company deposited into the Company’s Trust Account for its public shareholders