Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 1154

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 7
Chunk 1154
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As of December 31, 2024, we had no compensation plans (including individual
compensation arrangements) under which equity securities were authorized for issuance.

Item 13. Certain Relationships and
Related Transactions, and Director Independence

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. The number of founder shares issued was determined based on the expectation that such founder
shares would represent 20% of the issued and outstanding shares upon completion of the IPO. In January 2021, our Old Sponsor transferred
43,125 of our founder shares to each of our three independent directors. In March 2021, each independent director forfeited 4,375 founder
shares and our Old Sponsor forfeited 861,875 founder shares. The founder shares (including the Class A ordinary shares issuable upon exercise
thereof) may not, subject to certain limited exceptions, be transferred, assigned or sold by the holder.

Affiliates of our Old Sponsor purchased 5,466,667 private placement
warrants for a purchase price of $8,200,000 in a private placement that occurred simultaneously with the closing of the IPO, which were
subsequently transferred to our Sponsor in the sponsor handover. As such, interest in this transaction for affiliates of our Sponsor is
valued at $8,200,000. The private placement warrants and Class A ordinary shares issued upon the exercise or conversion thereof may not,
subject to certain limited exceptions, be transferred, assigned or sold by the holder.

As more fully discussed in the section of this Annual Report entitled
“Item 10. Directors, Executive Officers and Corporate Governance-Conflicts of Interest,” if any of our officers or directors
becomes aware of a Business Combination opportunity that falls within the line of business of any entity to which he or she has then-current
fiduciary or contractual obligations, he or she will honor his or her fiduciary or contractual obligations to present such opportunity
to such entity. Our officers and directors currently have certain relevant fiduciary duties or contractual obligations that may take priority
over their duties to us.

78

We currently maintain our executive offices at 200 Park Avenue, 32nd
Floor New York, NY, 10166. The cost for our use of this space