Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 29

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1
Chunk 29
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 the Trust Account could be subject to applicable
bankruptcy law, and may be included in our bankruptcy estate and subject to the claims of third parties with priority over the claims
of our shareholders. To the extent any bankruptcy claims deplete the Trust Account, we cannot assure you we will be able to return $10.00
per public share to our public shareholders. Additionally, if we file a bankruptcy or insolvency petition or an involuntary bankruptcy
or insolvency petition is filed against us that is not dismissed, any distributions received by shareholders could be viewed under applicable
debtor/creditor and/or bankruptcy laws as either a “preferential transfer” or a “fraudulent conveyance.”

As a result, a bankruptcy or insolvency court could seek to recover
some or all amounts received by our shareholders. Furthermore, our board of directors may be viewed as having breached its fiduciary duty
to our creditors and/or may have acted in bad faith, and thereby exposing itself and our company to claims of punitive damages, by paying
public shareholders from the Trust Account prior to addressing the claims of creditors. We cannot assure you that claims will not be brought
against us for these reasons.

Our public shareholders will be entitled to receive funds from the
Trust Account only (i) in the event of the redemption of our public shares if we do not consummate a Business Combination by the Termination
Date from the closing of the IPO, (ii) in connection with a shareholder vote to amend our amended and restated memorandum and articles
of association (A) to modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the right to
have their shares redeemed in connection with our Business Combination or to redeem 100% of our public shares if we do not complete our
Business Combination by the Termination Date, or (B) with respect to any other provision relating to the rights of holders of our Class
A ordinary shares or pre-Business Combination activity, and (iii) if they redeem their respective shares for cash upon the completion
of the Business Combination. Public shareholders who redeem their Class A ordinary shares in connection with a shareholder vote described
in clause (ii) in the preceding sentence shall not be entitled to funds from the Trust Account upon the subsequent completion of a Business
Combination or liquidation if we have not consummated a Business Combination by the Termination Date, with respect to such Class A ordinary
shares so redeemed. In no other circumstances will a shareholder have any right or