Company: CSTAF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110128
Chunk: 41

Company: Constellation Acquisition Corp I
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 model. As of September 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 at September 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 for companies to report in their financial statement information about operating segments, products, services,
geographic areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities
from which it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly
evaluated by the Company’s CODM, or group, in deciding how to allocate resources and assess performance.

The Company’s CODM has been identified as the Chief Financial Officer, who reviews the assets, operating results, and financial metrics for the Company
as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that
there is only one reportable segment.

20

The CODM assesses performance for the single
segment and decides how to allocate resources based on net income or loss that also is reported on the unaudited condensed
statements of operations as net income or loss. The measure of segment assets is reported on the condensed balance sheets as total
assets. When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews
several key metrics included in net income or loss and total assets, which include the following:

    September 30, 2025  
    December 31, 2024 
  
    Cash held in Trust Account 
    $837,911  
    $28,123,011 
  
    Cash 
    $8,808  
    $5,303 

    For the Three Months Ended September 30,  
    For the Nine Months Ended September 30, 

    2025  
    2024  
    2025  
    2024 
  
    General and administrative costs