Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 232

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1A
Chunk 232
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) the total number of ordinary shares issued and outstanding following the 2023 Shareholder Meeting, 2024 Shareholder Meeting
and 2025 Shareholder Meeting, plus (ii) the sum of the total number of Class A ordinary shares issued or deemed issued or issuable upon
conversion or exercise of any equity-linked securities or rights issued or deemed issued, by the company in connection with or in relation
to the consummation of the Business Combination, excluding any Class A ordinary shares or equity-linked securities exercisable for or
convertible into Class A ordinary shares issued, deemed issued, or to be issued, to any seller in the Business Combination and any private
placement warrants issued to our Sponsor, members of our team or any of their affiliates upon conversion of working capital loans. In
no event will the Class B ordinary shares convert into Class A ordinary shares at a rate of less than one to one.

The grant of registration rights to our initial shareholders
may make it more difficult to complete our Business Combination, and the future exercise of such rights may adversely affect the market
price of our Class A ordinary shares.

Pursuant to an agreement to be entered into concurrently with the issuance
and sale of the securities in the IPO, our initial shareholders, and their permitted transferees can demand that we register the Class
A ordinary shares into which founder shares are convertible, the private placement warrants and the Class A ordinary shares issuable upon
exercise of the private placement warrants, and warrants that may be issued upon conversion of working capital loans and the Class A ordinary
shares issuable upon conversion of such warrants. The registration and availability of such a significant number of securities for trading
in the public market may have an adverse effect on the market price of our Class A ordinary shares. In addition, the existence of the
registration rights may make our Business Combination more costly or difficult to conclude. This is because the shareholders of the target
business may increase the equity stake they seek in the combined entity or ask for more cash consideration to offset the negative impact
on the market price of our securities that is expected when the securities owned by our initial shareholders or their permitted transferees
are registered for resale.

Resources could be wasted in researching acquisitions that
are not completed, which could materially adversely affect subsequent attempts to locate and acquire or merge with another business. If
we do not complete our Business Combination within the required time period, our public shareholders may receive only approximately $10.00
per public share, or less in certain circumstances