Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 2192

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 16
Chunk 2192
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basis, 20% of the sum of (i) the total number of ordinary shares issued and outstanding upon completion of the IPO, plus (ii) the sum
of the total number of Class A ordinary shares issued or deemed issued or issuable upon conversion or exercise of any equity-linked securities
or rights issued or deemed issued, by the Company in connection with or in relation to the consummation of the initial Business Combination,
excluding any Class A ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued,
deemed issued, or to be issued, to any seller in the initial Business Combination and any private placement warrants issued to the Sponsor,
officers and directors or any of their affiliates upon conversion of Working Capital Loans. In no event will the Class B ordinary shares
convert into Class A ordinary shares at a rate of less than one to one.

Holders of the Class A ordinary shares and holders
of the Class B ordinary shares will vote together as a single class on all matters submitted to a vote of the Company’s shareholders,
with each share of ordinary shares entitling the holder to one vote.

F-23

Note 8 — Fair Value Measurements

The following table presents information about
the Company’s assets and liabilities that are measured at fair value on a recurring basis at December 31, 2024 and 2023, and indicates
the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

    Description 
    Level  
    December 31, 2024  
    Level  
    December 31, 2023 
  
    Liabilities 

    Public Warrant Liability 
    2  
    $165,333  
     2  
    $196,332 
  
    Private Placement Warrant Liability 
    2  
    $87,467  
     2  
    $103,867 

The warrants are accounted for as liabilities
in accordance with ASC 815-40 and are presented within warrant liability on the balance sheets. The warrant liabilities are measured at
fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liability
in the statements of operations.

The Company established the initial fair value
for the public warrants on January 29, 2021, the date of the Company’s IPO, using a Monte Carlo simulation model, and for the private
placement warrants on January 29, 2021,