Company: CSTAF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110128
Chunk: 121

Company: Constellation Acquisition Corp I
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 121
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 price of $1.50 per warrant, which warrants will be identical to the Private Placement Warrants issued to the
    Sponsor at the time of the IPO of the Company. As of September 30, 2025 and December 31, 2024, $2,951,000 is outstanding under this
    Extension Note.

25

    ●
    On January
    30, 2024, the Company issued the 2024 Note in the amount of $1,660,000, which was amended on June 5, 2025, to increase the principal
    amount by $590,000 from $1,660,000 to $2,250,000 to the Sponsor. Unless otherwise set forth in the amendment, all other provisions
    of the 2024 Note remain in full force and effect. The 2024 Note does not bear interest and matures upon closing of the Business Combination.
    In the event that the Company does not consummate a Business Combination, the 2024 Note will be repaid only from funds held outside
    of the Trust Account or will be forfeited, eliminated or otherwise forgiven. As of September 30, 2025 and December 31, 2024, $1,790,000
    and $1,365,000 is outstanding under the 2024 Note, respectively.

We cannot provide any assurance that new financing
along the lines detailed above will be available to us on commercially acceptable terms, if at all. Further, 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 ASC Topic 205-40, “Presentation
of Financial Statements—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 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