Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 22

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1
Chunk 22
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 Business Combination.

Limitation on Redemption upon Completion of Our Business
Combination If We Seek Shareholder Approval

If we seek shareholder approval of our Business Combination and we
do not conduct redemptions in connection with our Business Combination pursuant to the tender offer rules, our amended and restated memorandum
and articles of association provides that a public shareholder, together with any affiliate of such shareholder or any other person with
whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Exchange Act), will be restricted
from seeking redemption rights with respect to Excess Shares (as defined below), without our prior consent. We believe this restriction
will discourage shareholders from accumulating large blocks of shares, and subsequent attempts by such holders to use their ability to
exercise their redemption rights against a proposed Business Combination as a means to force us or our founding to purchase their shares
at a significant premium to the then-current market price or on other undesirable terms. Absent this provision, a public shareholder
holding more than an aggregate of 15% of the shares sold in the IPO could threaten to exercise its redemption rights if such holder’s
shares are not purchased by us, our Sponsor or our team at a premium to the then-current market price or on other undesirable terms.
By limiting our shareholders’ ability to redeem no more than 15% of the shares sold in the IPO without our prior consent, we believe
we will limit the ability of a small group of shareholders to unreasonably attempt to block our ability to complete our Business Combination,
particularly in connection with a Business Combination with a target that requires as a closing condition that we have a minimum net
worth or a certain amount of cash.

12

However, we would not be restricting our shareholders’ ability
to vote all of their shares (including Excess Shares) for or against our Business Combination.

Tendering Share Certificates in Connection with a Tender
Offer or Redemption Rights

Public shareholders seeking to exercise their redemption rights, whether
they are record holders or hold their shares in “street name,” will be required to either tender their certificates (if any)
to our transfer agent prior to the date set forth in the proxy solicitation or tender offer materials, as applicable, mailed to such
holders, or to deliver their shares to the transfer agent electronically using The Depository Trust Company’s DWAC (Deposit/ Withdrawal
At Custodian) System (the “DWAC System”), at the holder’s option, in each case up to