Company: CSTAF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044280
Chunk: 18

Company: Constellation Acquisition Corp I
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 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 the Termination Date.

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.

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

10

Note 2 — Significant Accounting Policies

Basis of Presentation

 The accompanying unaudited condensed financial
statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”)
for financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information
and footnotes required by GAAP. In the opinion of management, the unaudited condensed financial statements reflect all adjustments, which
include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. The
interim results for the three months ended March 31, 2025 are not necessarily indicative of the results to be expected for the year ending
December 31, 2025 or for any future period.

The accompanying unaudited condensed financial
statements should be read in conjunction with the audited financial statements and notes thereto included in the Annual Report on Form
10-K filed by the Company with the SEC on April 2, 2025 (the “Annual Report”). 

Emerging Growth Company Status

The Company is an “emerging growth company,”
as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”),
and it may take