Company: CSTAF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044280
Chunk: 50

Company: Constellation Acquisition Corp I
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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50 per warrant, which warrants will be identical to the Private Placement Warrants issued to the Sponsor at the time of the IPO of the Company. As of March 31, 2025 and December 31, 2024, $2,951,000 is outstanding under this Extension Note.

    ●
    On January 30, 2024, the Company issued the 2024 Note in the amount of $1,660,000 to the Sponsor. The 2024 Note does not bear interest and matures upon closing of the Business Combination. In the event that the Company does not consummate a Business Combination, the 2024 Note will be repaid only from funds held outside of the Trust Account or will be forfeited, eliminated or otherwise forgiven. As of March 31, 2025 and December 31, 2024, $1,565,000 and $1,365,000 is outstanding under the 2024 Note, respectively.

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We cannot provide any assurance that new financing along the lines detailed above will be available to us on commercially acceptable terms,
if at all. Further, we have until the Termination Date to consummate a Business Combination, but we cannot provide assurance that we will
be able to consummate a Business Combination by that date. If a Business Combination is not consummated by the required date, there will
be a mandatory liquidation and subsequent dissolution. In connection with the Company’s assessment of going concern considerations
in accordance with ASU 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,”
the liquidity condition and mandatory liquidation raise substantial doubt about the Company’s ability to continue as a going concern
until the earlier of the consummation of the Business Combination or January 29, 2026, the date the Company is required to liquidate.
These unaudited condensed financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification
of the liabilities that might be necessary should the Company be unable to continue as a going concern.

We intend to complete our Business Combination before the mandatory liquidation date; however, there can be no assurance that we will
be able to consummate any Business Combination by the Termination Date. If the Company’s estimates of the costs of identifying a
target business, undertaking in-depth due diligence and negotiating a Business Combination are less than the actual amount necessary to
do so, the Company may have insufficient funds available