Company: CSTAF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044280
Chunk: 115

Company: Constellation Acquisition Corp I
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 115
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95,000.

Contractual Obligations

We do not have any long-term debt obligations,
capital lease obligations, operating lease obligations, purchase 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
Deferred Underwriting Fees of 3.5% of the gross offering proceeds, or approximately $10,850,000 in 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 Business Combination.

26

Critical Accounting Estimates

This management’s discussion and analysis
of our financial condition and results of operations is based on our unaudited condensed financial statements, which have been prepared
in accordance with GAAP. The preparation of these unaudited condensed 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 unaudited condensed 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 unaudited condensed 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 202