Company: CSTAF
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074972
Chunk: 28

Company: Constellation Acquisition Corp I
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 instruments under ASC Topic 820 (other than warrant
liability) approximates the carrying amounts represented in the accompanying balance sheets, primarily due to their short-term nature.

See Note 8 for additional information on assets
and liabilities measured at fair value on a recurring basis.

Recent Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07,
“Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”. The amendments in this ASU require disclosures,
on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating officer decision maker
(“CODM”), as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss.
The ASU requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported
measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. Public entities will be
required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities with a single reportable segment
are required to provide all the disclosures required by the amendments in this ASU and existing segment disclosures in Topic 280. This
ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December
15, 2024, with early adoption permitted. ASU 2023-07 became effective as of December 31, 2024 and the Company’s management adopted
ASU 2023-07 in its financial statements and related disclosures (see Note 9).

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Note 3 — Initial Public Offering

Public Units

On January 29, 2021, the Company sold 31,000,000
Units, at a purchase price of $10.00 per Unit, including 1,000,000 Units issued pursuant to the partial exercise of the underwriters’
over-allotment option. Each Unit consists of one Class A ordinary share, and one-third of one redeemable warrant to purchase one Class
A ordinary share.

Public Warrants

As of June 30, 2025 and December 31, 2024, the
Company had 10,333,333 Public Warrants and 5,466,667 Private Placement Warrants outstanding.

Each whole warrant will entitle the holder to
purchase one Class A ordinary share at a price of $11.