Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 254

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1A
Chunk 254
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 pursue such a transaction if we determined that such affiliated entity met our criteria
for a Business Combination as set forth in “Business-Effecting Our Business Combination-Evaluation of a Target Business and Structuring
of Our Business Combination” and such transaction was approved by a majority of our independent and disinterested directors. Despite
our agreement to obtain an opinion from an independent investment banking firm or an independent valuation or accounting firm regarding
the fairness to our company from a financial point of view of a Business Combination with one or more domestic or international businesses
affiliated with our Sponsor, executive officers, directors or initial shareholders, potential conflicts of interest still may exist and,
as a result, the terms of the Business Combination may not be as advantageous to our public shareholders as they would be absent any conflicts
of interest.

Since our Sponsor, executive officers and directors will
lose their entire investment in us if our Business Combination is not completed (other than with respect to public shares they may acquire
during or after the IPO), a conflict of interest may arise in determining whether a particular Business Combination target is appropriate
for our Business Combination.

On November 20, 2020, our Old Sponsor paid $25,000, or approximately
$0.003 per share, to cover for certain offering costs in consideration for 8,625,000 founder shares, which were subsequently transferred
to our Sponsor in the sponsor handover. Prior to the initial investment in the company of $25,000 by the Old Sponsor, the company had
no assets, tangible or intangible. The per share price of the founder shares was determined by dividing the amount contributed to the
company by the number of founder shares issued. The founder shares will be worthless if we do not complete a Business Combination. In
addition, affiliates of our Old Sponsor have committed, pursuant to a written agreement, to purchase 5,466,667 private placement warrants,
at a purchase price of $8,200,000, in a private placement that will close simultaneously with the closing of the IPO; such private placement
warrants were subsequently transferred to our Sponsor in the sponsor handover. If we do not consummate an initial business by the Termination
Date, the private placement warrants (and the underlying securities) will expire worthless. The personal and financial interests of our
executive officers and directors may influence their motivation in identifying and selecting a target Business Combination, completing
a Business Combination and influencing the operation of the business following the Business Combination. This risk may become more acute