Company: CSTAF
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074972
Chunk: 40

Company: Constellation Acquisition Corp I
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 less than one to one.

Holders of the Class A ordinary shares and holders
of the Class B ordinary shares will vote together as a single class on all matters submitted to a vote of the Company’s shareholders,
with each share of ordinary shares entitling the holder to one vote.

Note 8 — Fair Value Measurements

The following table presents information about
the Company’s assets and liabilities that are measured at fair value on a recurring basis at June 30, 2025 and December 31, 2024,
and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

    Description 
    Level  
    June 30,
 2025  
    Level  
    December 31, 2024 
  
    Liabilities 

    Public Warrant Liability 
     2  
    $216,999  
     2  
    $165,333 
  
    Private Placement Warrant Liability 
     2  
    $114,800  
     2  
    $87,467 

The warrants are accounted for as liabilities
in accordance with ASC 815-40 and are presented within warrant liability on the balance sheets. The warrant liabilities are measured at
fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liability
in the unaudited condensed statements of operations.

The Company established the initial fair value
for the Public Warrants on January 29, 2021, the date of the Company’s IPO, using a Monte Carlo simulation model, and for the Private
Placement Warrants on January 29, 2021, using a Black-Scholes model. As of June 30, 2025 and December 31, 2024, the fair value of the
Private Placement Warrants was valued utilizing the quoted market price of the Public Warrants, and the fair value of the Public Warrants
by reference to the quoted market price of the Public Warrants. The Public Warrants and Private Placement Warrants were classified as
Level 3 at the initial measurement date. There were no transfers among fair value hierarchy during the period ended June 30, 2025 and
December 31, 2024. The Public Warrants are classified as Level 2 due to the lack of trading activity as of the reporting date.

Note 9 — Segment Information 

ASC Topic 280, “Segment Reporting,”
establishes standards