Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 111

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1
Chunk 111
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 Company’s
completion of an Initial Business Combination (the “Deferred Underwriting Fees”). The Deferred Underwriting Fees will become
payable to the underwriters from the amounts held in the Trust Account solely in the event the Company completes its initial Business
Combination.

61

Critical Accounting Estimates

This management’s discussion and analysis of our financial condition
and results of operations is based on our financial statements, which have been prepared in accordance with GAAP. The preparation of these
financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and
expenses and the disclosure of contingent assets and liabilities in our financial statements. On an ongoing basis, we evaluate our estimates
and judgments, including those related to fair value of financial instruments and accrued expenses. We base our estimates on historical
experience, known trends and events and various other factors that we believe to be reasonable under the circumstances, the results of
which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other
sources. One of the more significant accounting estimates included in these financial statements is the determination of the fair value
of the warrant liability. Such estimates may be subject to change as more current information becomes available and, accordingly, actual
results may differ from these estimates under ,different assumptions or conditions.

Recent Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07,
“Segment Reporting” (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this ASU require disclosures,
on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating officer decision maker
(“CODM”), as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss.
The ASU requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported
measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. Public entities will be
required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities with a single reportable segment
are required to provide all the disclosures required by the amendments in this ASU and existing segment disclosures in Topic 280. This
ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December
15, 2024, with early adoption permitted