Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 0

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1
Chunk 0
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ITEM 1. BUSINESS

Introduction

We are a blank check company incorporated in the Cayman Islands and
formed for the purpose of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar Business
Combination with one or more businesses, which we refer to throughout this Annual Report as our Business Combination. We intend to seek
a Business Combination with a target that is at the forefront of change in one of several rapidly changing segments of the global economy.
We intend to effectuate our Business Combination using cash derived from the proceeds of the Initial Public Offering and the sale of
the private placement warrants, our shares, debt or a combination of cash, shares and debt.

Constellation, led by Chandra R. Patel, is on the mission of supporting
a target that is focused on bringing change to a rapidly changing segment of the global economy by sharing our expertise and multi-disciplinary,
complementary know-how across a variety of industries and geographies. We believe that the businesses with the greatest propensity for
long-term value creation seek partners who are themselves proven value builders and have demonstrated success in ushering companies from
private to public operating environments.

Company History

On November 23, 2020, one of our officers purchased an aggregate of
8,625,000 founder shares for an aggregate purchase price of $25,000, or approximately $0.003 per share (“founder shares”).
On December 23, 2020, the founder shares were assigned to our Old Sponsor, and subsequently transferred to the Sponsor in the sponsor
handover (as defined below), for the same purchase price that was initially paid by one of our officers. Our founder shares will automatically
convert into Class A ordinary shares, on a one-for-one basis, upon the completion of the Business Combination. The number of founder
shares issued was determined based on the expectation that the founder shares would represent 63.3% of the issued and outstanding ordinary
shares upon completion of the IPO.

On January 29, 2021, we completed our IPO of 31,000,000 units at a
price of $10.00 per unit, generating gross proceeds of $310,000,000. Each unit consists of one Class A ordinary share and one-third of
one public warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share,
subject to certain adjustments.

Substantially concurrently with the completion of the IPO,