Company: CSTAF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044280
Chunk: 39

Company: Constellation Acquisition Corp I
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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 the unaudited condensed statements of operations.

 The Company established the initial fair value
for the Public Warrants on January 29, 2021, the date of the Company’s IPO, using a Monte Carlo simulation model, and for the Private
Placement Warrants on January 29, 2021, using a Black-Scholes model. As of March 31, 2025 and December 31, 2024, the fair value of the
Private Placement Warrants was valued utilizing the quoted market price of the Public Warrants, and the fair value of the Public Warrants
by reference to the quoted market price of the Public Warrants. The Public Warrants and Private Placement Warrants were classified as
Level 3 at the initial measurement date. There were no transfers among fair value hierarchy during the period ended March 31, 2025 and
December 31, 2024. The Public Warrants are classified as Level 2 due to the lack of trading activity as of the reporting date.

Note 9 — Segment Information 

ASC Topic 280, “Segment Reporting,”
establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic
areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities from which
it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by
the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance.

The Company’s chief operating decision
maker has been identified as the Chief Financial Officer, who reviews the assets, operating results, and financial metrics for the Company
as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that
there is only one reportable segment.

20

The CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported
on the unaudited condensed statements of operations as net income or loss. The measure of segment assets is reported on the balance sheets
as total assets. When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews
several key metrics included in net income or loss and total assets, which include the following:

    March 31,
 2025  
    December 31, 
2024 
  
    Cash held in Trust Account 
    $793,528  
    $28