## Explanation

This formula concatenates the original value in column B to a string of asterisks (*) assembled with the REPT function so that the final result is always 12 characters:

```
REPT("*",12-LEN(B5))
```

Inside the REPT function, the text to repeat is provided as a single asterisk ("*"). The number of asterisks needed for each value is determined with with the LEN function in this bit of code here:

```
12-LEN(B5)
```

We start with 12, then subtract the length of the text in column B. In cell B5, "Sebastian" is 9 characters, so the result is 3. The formula is evaluated like this:

```
="Sebastian"&REPT("*",12-LEN(B5))
="Sebastian"&REPT("*",12-9)
="Sebastian"&REPT("*",3)
="Sebastian"&"***"
="Sebastian***"
```

The results in column C is formatted with a monospaced font (Courier New) to clearly show all strings are the same length.