Company: CSTAF
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074972
Chunk: 94

Company: Constellation Acquisition Corp I
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 94
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 shares subject to forfeiture. The Company has not considered the effect of the warrants sold in the IPO and the private placement
to purchase an aggregate of 15,800,000 Class A ordinary shares (the “Private Placement”) in the calculation of diluted net
(loss) income per ordinary share, since the exercise of the warrants is contingent upon the occurrence of future events. As a result,
diluted net (loss) income per ordinary share is the same as basic net (loss) income per ordinary share for the periods presented.

On January 30, 2024, the Sponsor converted an
aggregate of 7,600,000 Class B ordinary shares into Class A ordinary shares on a one-for-one basis. Following the conversion, a clarifying
distinction is made that one class of share is redeemable Class A ordinary shares and other class is non-redeemable Class A ordinary shares
and Class B ordinary shares.

Basic and diluted net (loss) income per ordinary
share for redeemable Class A ordinary shares and non-redeemable Class A ordinary shares and Class B ordinary shares are calculated by
dividing net (loss) income attributable to the Company by the weighted average number of redeemable Class A ordinary shares and non-redeemable
Class A ordinary shares and Class B ordinary shares outstanding, allocated proportionally to each class of ordinary shares. This presentation
assumes a Business Combination as the most likely outcome. Accretion associated with the redeemable Class A ordinary shares is excluded
from earnings per share as the redemption value approximates fair value.

13

Reconciliation of Net (Loss) Income per Ordinary
Share

The Company’s unaudited condensed statements
of operations include a presentation of net (loss) income per share for ordinary shares subject to redemption in a manner similar to the two-class method of
net (loss) income per share. Accordingly, basic and diluted net (loss) income per redeemable Class A ordinary shares and non-redeemable
Class A ordinary shares and B ordinary shares are calculated as follows:

    For the Three Months Ended 
June
    30,  
    For the Six Months Ended
 June
    30, 

    2025  
    2024  
    2025  
    2024 
  
    Redeemable Class A ordinary shares 

    Allocation of net (loss) income to redeemable Class A ordinary shares subject to possible redemption 
    $(1,817