Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 451

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1B
Chunk 451
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 result, diluted net loss per ordinary share is the same as basic
net loss 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 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 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.

F-15

Reconciliation of Net Loss per Ordinary Share

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

    For the Years Ended December 31, 

    2024  
    2023 
  
    Redeemable Class A ordinary shares 

    Allocation of net loss to redeemable Class A ordinary shares subject to possible redemption 
    $(61,101) 
    $(162,783)
  
    Weighted average redeemable Class A ordinary shares subject to possible redemption 
     2,530,341  
     6,381,953 
  
    Basic and diluted net loss per share 
    $(0.02) 
    $(0.03)

    Non-redeemable Class A ordinary shares and B ordinary shares 

    Allocation of net loss to non-redeemable Class A ordinary shares and Class B ordinary shares 
    $(187,142) 
    $(197,677)
  
    Weighted average non-redeemable Class A ordinary shares and Class B ordinary shares 
     7