Company: CSTAF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044280
Chunk: 141

Company: Constellation Acquisition Corp I
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 141
---
 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 March
31, 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 March 31, 2025, we had a net loss of approximately $447,000, which included a loss from operations of approximately
$415,000 and a loss from the change in fair value of warrant liabilities of $116,000, partially offset by interest earned on investments
held in the Trust Account of approximately $84,000.

For the three months ended March 31, 2024, we had a net loss of approximately $494,000, which included interest earned on investments
held in the Trust Account of $389,000, offset by a loss from operations of $788,000 and a loss from the change in fair value of warrant
liabilities of $95,000.

Contractual Obligations

We do not have any long-term debt obligations,
capital lease obligations, operating lease obligations, purchase obligations or long-term liabilities.

Registration Rights

The initial shareholders and holders of the Private
Placement Warrants will be entitled to registration rights pursuant to a registration rights agreement. The initial shareholders and holders
of the Private Placement Warrants will be entitled to make up to three demands, excluding short form registration demands, that register
such securities for sale under the Securities Act. In addition, these holders will have “piggy-back” registration rights to
include their securities in other registration statements filed by us. We will bear the expenses incurred in connection with the filing
of any such registration statements.

Underwriting Agreement

We paid an underwriting discount of 2% of the
per Unit offering price, or approximately $6,