Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 387

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1B
Chunk 387
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, 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 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.

60

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
to operate its business prior to a Business Combination. Moreover, the Company may need to obtain additional financing either to complete
a Business Combination or because it becomes obligated to redeem a significant number of its Public Shares upon completion of a Business
Combination, in which case the Company may issue additional securities or incur debt in connection with such Business Combination.

Results of Operations

Our entire activity from inception through December 31, 2024 related
to our formation, the preparation for the Initial Public Offering, and since the closing of the Initial Public Offering, the search for
a prospective Business Combination. We have neither engaged in any operations nor generated any revenues to date. We will not generate
any operating revenues until after completion of our Business Combination. We generate non-operating income in the form of interest income
and dividends on cash and investments held in the Trust Account. We expect to incur increased expenses as a result of being a public company
(for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the year ended December 31, 2024, we had a net