Company: CSTAF
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074972
Chunk: 148

Company: Constellation Acquisition Corp I
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 2
Chunk 148
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 proxies if, based
upon the tabulated vote at the time of the 2025 Shareholder Meeting, there are insufficient Class A ordinary shares and Class B ordinary
shares in the capital of the Company represented (either in person or by proxy) to approve the 2025 Extension Amendment Proposal and the
Founder Share Amendment Proposal, (ii) where the Company would not adhere to the initial or continued trading requirements of OTCQB and
the OTCQ Venture or (iii) where the board has determined it is otherwise necessary.

In connection with the vote to approve the 2025 Extension
Amendment Proposal and the Founder Share Amendment Proposal held on January 27, 2025, the holders of 2,303,382 Class A ordinary shares
properly exercised their right to redeem their shares for cash at a redemption price of approximately $11.91 per share, for an aggregate
redemption amount of approximately $27,428,399. After the satisfaction of such redemptions and receipt of the initial deposit of $5,000
to the Trust Account, the balance in the Trust Account was approximately $778,970 and there was 7,664,302 Class A ordinary shares outstanding,
of which 64,302 Class A ordinary shares are held by the Company’s public shareholders.

On February 25, 2025, the Company drew the Extension
Funds, in the aggregate amount of $5,000, as approved by unanimous director resolution, dated February 25, 2024, pursuant to the 2024
Note (as defined below), which Extension Funds the Company deposited into the Company’s Trust Account for its public shareholders.
This deposit enabled the Company to extend the date by which it must complete its initial Business Combination from February 28, 2025
to March 29, 2025). The First 2025 Extension was the first of eleven one-month extensions permitted under the Company’s amended
and restated memorandum and articles of association and provides the Company with additional time to complete its initial Business Combination.

On March 10, 2025, the Company’s Class A
ordinary shares started trading on the OTC Pink and the Company’s Units started trading on the OTCQB. The main difference between
OTCQB and OTC Pink from OTCQX is that securities listed on the OTCQB and OTC Pink undergo additional quality review and have different
listing standards than those on the OTCQX, although all are tiers of the OTC