Company: CSTAF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110128
Chunk: 34

Company: Constellation Acquisition Corp I
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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, the Company issued an unsecured
promissory note in the principal amount of $1,660,000 (the “2024 Note”), 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. 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. Unless otherwise set forth in the
amendment, all other provisions of the 2024 Note remain in full force and effect. As of each of September 30, 2025 and December 31, 2024,
$1,790,000 and $1,365,000 were outstanding under the 2024 Note, respectively.

As of September 30, 2025 and December 31, 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