Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 602

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 2
Chunk 602
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 obligations or long-term liabilities.

Registration Rights

The initial shareholders and holders of the private placement warrants
will be entitled to registration rights pursuant to a registration rights agreement. The initial shareholders and holders of the private
placement warrants will be entitled to make up to three demands, excluding short form registration demands, that register such securities
for sale under the Securities Act. In addition, these holders will have “piggy-back” registration rights to include their
securities in other registration statements filed by us. We will bear the expenses incurred in connection with the filing of any such
registration statements.

Underwriting Agreement

We paid an underwriting discount of 2% of the per Unit offering price,
or approximately $6,200,000 in the aggregate at the closing of the Initial Public Offering, and agreed to pay the Deferred Underwriting
Fees (as defined below) of 3.5% of the gross offering proceeds, or approximately $10,850,000 in the aggregate upon the Company’s
completion of an Initial Business Combination (the “Deferred Underwriting Fees”). The Deferred Underwriting Fees will become
payable to the underwriters from the amounts held in the Trust Account solely in the event the Company completes its initial Business
Combination.

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Critical Accounting Estimates

This management’s discussion and analysis of our financial condition
and results of operations is based on our financial statements, which have been prepared in accordance with GAAP. The preparation of these
financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and
expenses and the disclosure of contingent assets and liabilities in our financial statements. On an ongoing basis, we evaluate our estimates
and judgments, including those related to fair value of financial instruments and accrued expenses. We base our estimates on historical
experience, known trends and events and various other factors that we believe to be reasonable under the circumstances, the results of
which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other
sources. One of the more significant accounting estimates included in these financial statements is the determination of the fair value
of the warrant liability. Such estimates may be subject to change as more current information becomes available and, accordingly, actual
results may differ from these estimates under ,different assumptions or conditions.

Recent Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07,
“Segment Reporting” (Topic 280): Improvements to Reportable Segment Disclosures