Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 1420

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 9
Chunk 1420
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 subsequent to our Business Combination, (x) if the closing price of our Class A ordinary shares equals or exceeds $12.00 per share
(as adjusted for share divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within
any 30-trading day period commencing at least 150 days after our Business Combination, or (y) the date on which we complete a liquidation,
merger, share exchange, reorganization or other similar transaction that results in all of our public shareholders having the right to
exchange their ordinary shares for cash, securities or other property, and (ii) any of their private placement warrants and Class A ordinary
shares issued upon conversion or exercise thereof until 30 days after the completion of our Business Combination. Any permitted transferees
will be subject to the same restrictions and other agreements of our Sponsor and team with respect to any founder shares, private placement
warrants and Class A ordinary shares issued upon conversion or exercise thereof.

In addition, pursuant to an agreement entered into prior to our IPO,
our Sponsor, upon and following consummation of a Business Combination, will be entitled to nominate three individuals for appointment
to our board of directors, as long as the Sponsor holds any securities covered by the registration and shareholder rights agreement.

Equity Compensation Plans

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