Company: CSTAF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110128
Chunk: 93

Company: Constellation Acquisition Corp I
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 93
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 they occur and adjusts the carrying value of the Class A ordinary shares subject to possible redemption to equal
the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of the Class A ordinary shares
subject to possible redemption are affected by charges against additional paid-in capital and accumulated deficit.

The Class A ordinary shares subject to
possible redemption reflected on the condensed balance sheets as of September 30, 2025 and December 31, 2024 are reconciled in the
following table:

    Class A ordinary shares subject to possible redemption as of December 31, 2023 
    $49,857,596 
  
    Plus: 

    Accretion of carrying value to redemption value 
     1,936,948 
  
    Less: 

    Redemptions 
     (23,671,533)
  
    Class A ordinary shares subject to possible redemption as of December 31, 2024 
     28,123,011 
  
    Plus: 

    Accretion of carrying value to redemption value 
     143,299 
  
    Less: 

    Redemptions 
     (27,428,399)
  
    Class A ordinary shares subject to possible redemption as of September 30, 2025 
    $837,911 

Income Taxes

ASC 740 prescribes a recognition threshold and
a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax
return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities.
There were no unrecognized tax benefits as of September 30, 2025 and December 31, 2024. The Company’s management determined that
the Cayman Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related
to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties as of September
30, 2025 and December 31, 2024. The Company is currently not aware of any issues under review that could result in significant payments,
accruals or material deviation from its position. The Company has been subject to income tax examinations by major taxing authorities
since inception.

The Company is considered to be an exempted Cayman
Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing
requirements in