Company: CSTAF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044280
Chunk: 114

Company: Constellation Acquisition Corp I
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 114
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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 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 March
31, 2025 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 three months ended March 31, 2025, we had a net loss of approximately $447,000, which included a loss from operations of approximately
$415,000 and a loss from the change in fair value of warrant liabilities of $116,000, partially offset by interest earned on investments
held in the Trust Account of approximately $84,000.

For the three months ended March 31, 2024, we had a net loss of approximately $494,000, which included interest earned on investments
held in the Trust Account of $389,000, offset by a loss from operations of $788,000 and a loss from the change in fair value of warrant
liabilities of $