Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 207

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1A
Chunk 207
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other assistance to Ukraine during the ongoing military conflict, increasing geopolitical tensions with Russia. Increasing geopolitical
tensions have created global security concerns that could have a lasting impact on regional and global economies. Although the length
and impact of the ongoing military conflict in Ukraine, the conflict between Israel and Hamas and growing tensions between China and Taiwan
are highly unpredictable, the conflicts could lead to market disruptions, including significant volatility in energy and other commodity
prices, credit and capital markets, as well as supply chain interruptions. Additionally, military actions and the resulting sanctions
could adversely affect the global economy and financial markets and lead to instability and lack of liquidity in capital markets.

Any of the abovementioned factors, or any other negative impact on
the global economy, capital markets or other geopolitical conditions could adversely affect our search for a Business Combination and
any target business with which we may ultimately consummate a Business Combination. Any such disruptions may also have the effect of heightening
many of the other risks described elsewhere in this Report. If these disruptions or other matters of global concern continue for an extensive
period of time, our ability to consummate a Business Combination, or the operations of a target business with which we may ultimately
consummate a Business Combination, may be materially adversely affected.

In addition, increasing geopolitical tensions could result in increased
cyber-attacks against U.S. companies.

Economic recessions or downturns could impair our ability to
attract a target company and complete our initial business combination.

The current
macroeconomic environment is characterized by labor shortages, strikes, work stoppages, labor disputes, supply chain disruptions and accidents,
changing interest rates, persistent inflation, foreign currency exchange volatility, volatility in global capital markets and concerns
over actual and potential tariffs and sanctions, inflation and persistent recession risk. The risks associated with our ability to attached
a target company for completing an initial Business Combination is more severe during periods of economic slowdown or recession.

20

Changes to United States tariff and import/export regulations
may have a negative effect on potential target companies and, in turn, harm us. 

The United States has recently enacted and proposed to enact significant
new tariffs. Additionally, President Trump has directed various federal agencies to further evaluate key aspects of U.S. trade policy
and there has been ongoing discussion and commentary regarding potential significant changes to U.S. trade policies, treaties and tariffs.
There continues to exist significant uncertainty about the future relationship between the U.S. and other countries with respect to such
trade policies, treaties and tariffs.