Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 269

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1A
Chunk 269
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 of $8,200,000. Subsequent to such purchase and pursuant to the 2023 Shareholder Meeting, such private placement warrants
were transferred to our Sponsor. Each private placement warrant is exercisable for one Class A ordinary share at a price of $11.50 per
share. The proceeds from the sale of the private placement warrants were added to the net proceeds from the initial public offering held
in the Trust Account. If we do not complete a Business Combination by the Termination Date, the private placement warrants will expire
worthless. The private placement warrants are non-redeemable and exercisable on a cashless basis so long as they are held by our Sponsor
or its permitted transferees. The sale of the private placement warrants was made pursuant to the exemption from registration contained
in Section 4(a)(2) of the Securities Act.

On January 30, 2024, the Sponsor converted an aggregate of 7,600,000
Class B ordinary shares into Public Shares on a one-for-one basis. The Sponsor waived any right to receive funds from the Company’s
Trust Account with respect to the Public Shares received upon such conversion and acknowledged that such shares will be subject to all
of the restrictions applicable to the original Class B Ordinary Shares under the terms of the letter agreement. As of the date of this
Annual Report, there are 7,664,302 Class A ordinary shares outstanding.

Use of Proceeds

Of the $318,200,000 in proceeds we received from our initial public
offering and the sale of the private placement warrants, a total of $310,000,000, including $10,850,000 payable to the underwriter for
deferred underwriting commissions, was placed in a U.S.-based trust account maintained by Continental Stock Transfer & Trust Company,
acting as trustee.

There has been no material change in the planned use of proceeds from
such use as described in the company’s final prospectus (File No. 333- 251974), dated January 26, 2021, which was declared effective
by the SEC on January 28, 2021.

55

(g) Purchases of Equity Securities by the Issuer and Affiliated
Purchasers

On January 27, 2023, we held the 2023 Shareholder Meeting to, in part,
amend our amended and restated memorandum and articles of association to extend the date by which we have to consummate a Business Combination.
In