Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 226

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1A
Chunk 226
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 all rights to seek access to the Trust Account
nor will it apply to any claims under our indemnity of the underwriters of the IPO against certain liabilities, including liabilities
under the Securities Act. Moreover, in the event that an executed waiver is deemed to be unenforceable against a third-party, our Sponsor
will not be responsible to the extent of any liability for such third-party claims.

However, we have not asked our Sponsor to reserve for such indemnification
obligations, nor have we independently verified whether our Sponsor has sufficient funds to satisfy its indemnity obligations and we believe
that our Sponsor’s only assets are securities of our company. Our Sponsor may not be able to satisfy those obligations. None of
our officers or directors will indemnify us for claims by third parties including, without limitation, claims by vendors and prospective
target businesses.

30

Our directors may decide not to enforce the indemnification
obligations of our Sponsor, resulting in a reduction in the amount of funds in the Trust Account available for distribution to our public
shareholders.

In the event that the proceeds in the Trust Account are reduced below
the lesser of (i) $10.00 per public share and (ii) the actual amount per share held in the Trust Account as of the date of the liquidation
of the Trust Account if less than $10.00 per public share due to reductions in the value of the trust assets, in each case net of the
interest that may be withdrawn to pay our tax obligations, and our Sponsor asserts that it is unable to satisfy its obligations or that
it has no indemnification obligations related to a particular claim, our independent directors would determine whether to take legal action
against our Sponsor to enforce its indemnification obligations. While we currently expect that our independent directors would take legal
action on our behalf against our Sponsor to enforce its indemnification obligations to us, it is possible that our independent directors
in exercising their business judgment and subject to their fiduciary duties may choose not to do so in any particular instance. If our
independent directors choose not to enforce these indemnification obligations, the amount of funds in the Trust Account available for
distribution to our public shareholders may be reduced below $10.00 per public share.

If, after we distribute the proceeds in the Trust Account
to our public shareholders, we file a bankruptcy or insolvency petition or an involuntary bankruptcy or insolvency petition is filed against
us that is not dismissed, a bankruptcy or insolvency court may seek