Company: CSTAF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110128
Chunk: 122

Company: Constellation Acquisition Corp I
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 122
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 date; however, there can be no assurance that we will be able to consummate any Business Combination
by the Termination Date. If the Company’s estimates of the costs of identifying a target business, undertaking in-depth due diligence
and negotiating a Business Combination are less than the actual amount necessary to do so, the Company may have insufficient funds available
to operate its business prior to a Business Combination. Moreover, the Company may need to obtain additional financing either to complete
a Business Combination or because it becomes obligated to redeem a significant number of its Public Shares upon completion of a Business
Combination, in which case the Company may issue additional securities or incur debt in connection with such Business Combination.

Results of Operations

Our entire activity from inception through September
30, 2025 related to our formation, the preparation for the Initial Public Offering, and since the closing of the Initial Public Offering,
the search for a prospective Business Combination. We have neither engaged in any operations nor generated any revenues to date. We will
not generate any operating revenues until after completion of our Business Combination. We generate non-operating income in the form
of interest income and dividends on cash and investments held in the Trust Account. We expect to incur increased expenses as a result
of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the three months ended September 30, 2025,
we had a net loss of approximately $1,300,000, which included a loss from operations of approximately $248,000 and a loss from the change
in fair value of warrant liabilities of approximately $1,100,000, partially offset by interest earned on investments held in the Trust
Account of approximately $7,000.

For the nine months ended September 30, 2025,
we had a net loss of approximately $2,000,000, which included a loss from operations of approximately $928,000 and a loss from the change
in fair value of warrant liabilities of approximately $1,200,000, partially offset by interest earned on investments held in the Trust
Account of approximately $98,000.

For the three months ended September 30, 2024,
we had a net income of approximately $38,000, which included interest earned on investments held in the Trust Account of $310,000, offset
by a loss from operations of $245,000 and a loss from the change in fair value of warrant liabilities of $28,000.