Company: CSTAF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110128
Chunk: 103

Company: Constellation Acquisition Corp I
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 103
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, 2024,
$2,017,208 and $1,592,208 were outstanding under the promissory notes to the Sponsor, respectively.

Administrative Support Agreement

As of January 26, 2021, the Company had
agreed, commencing on the date that the Securities of the Company were first listed on NYSE, to pay the Sponsor up to
$10,000 per month for office space, utilities and secretarial and administrative support, and other obligations of the Sponsor.
Upon completion of the initial Business Combination or the Company’s liquidation, the Company will cease paying these monthly
fees. For the three and nine months ended September 30, 2025 and 2024, the Company recorded $30,000 and $90,000 administrative
service fees, respectively. Amounts of $330,000 and $240,000 are reported as due to related party in the accompanying condensed
balance sheets as of September 30, 2025 and December 31, 2024, respectively.

Working Capital Loans

In order to finance transaction costs in connection
with a Business Combination, the Sponsor or any of its affiliates or certain of the Company’s officers and directors may, but are
not obligated to, loan the Company funds as may be required (the “Working Capital Loans”). If the Company completes a Business
Combination, the Company will repay the Working Capital Loans out of the proceeds of the Trust Account released to the Company. Otherwise,
the Working Capital Loans would be repaid only out of funds held outside the Trust Account. In the event that a Business Combination
does not close, the Company may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans
but no proceeds from the Trust Account would be used to repay the Working Capital Loans. Up to $1,500,000 of such Working Capital
Loans may be convertible into warrants of the post-Business Combination company at a price of $1.50 per warrant at the option of
the lender.

17

On January 18, 2023, the Company issued an unsecured
promissory note (the “2023 Note”) in the amount of $230,000 to the Sponsor. The proceeds of the 2023 Note will be used for
general working capital purposes. The 2023 Note bears no interest and is payable in full upon the earlier to occur of (i) the consummation
of the Company’s Business