M&A - Constellation Acquisition Corp I

Form Type: 10-K

Filing Date: 2025-04-02

Corporate Action: Acquisition

Type: Update

Accession Number: 000121390025027555

Filing Summary: Constellation Acquisition Corp I, established as a blank check company in the Cayman Islands, aims to effectuate a business combination with a target company. The firm is positioned in rapidly evolving sectors of the global economy. Key activities include a recent extraordinary general meeting held on January 27, 2025, where shareholders approved amendments allowing for the extension of the deadline to complete a business combination. The former deadline of January 29, 2025, has been pushed to February 28, 2025, with the possibility for further monthly extensions up to another year. In connection with these proposals, holders of Class A ordinary shares exercised their right to redeem shares for cash. The company's financial strategy revolves around utilizing proceeds from its IPO and ongoing financing to facilitate these acquisitions. As of recent figures, there are 7,664,302 Class A ordinary shares outstanding with a trust account balance of approximately $778,970.65 post-redemptions. The intent is to achieve a business combination with one or more businesses whose fair market value is at least 80% of the net assets held in the trust account, underlined by a commitment to having a significant impact in the sectors where they operate.

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