Company: CSTAF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110128
Chunk: 24

Company: Constellation Acquisition Corp I
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 for the redemption of such Public Shares in connection
with the Company’s liquidation, if there is a shareholder vote or tender offer in connection with the Business Combination and
in connection with certain amendments to the Company’s amended and restated memorandum and articles of association. In accordance
with the SEC and its staff’s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99, redemption provisions
not solely within the control of the Company require ordinary shares subject to redemption to be classified outside of permanent equity.
Ordinary liquidation events, which involve the redemption and liquidation of all of the entity’s equity instruments, are excluded
from the provisions of ASC 480. Accordingly, at September 30, 2025 and December 31, 2024, 64,302 and 2,367,684 Class A ordinary
shares subject to possible redemption were presented as temporary equity, outside of the shareholders’ deficit section of the Company’s
condensed balance sheets, respectively.

The Company recognizes changes in redemption
value immediately as they occur and adjusts the carrying value of the Class A ordinary shares subject to possible redemption to equal
the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of the Class A ordinary shares
subject to possible redemption are affected by charges against additional paid-in capital and accumulated deficit.

The Class A ordinary shares subject to
possible redemption reflected on the condensed balance sheets as of September 30, 2025 and December 31, 2024 are reconciled in the
following table:

    Class A ordinary shares subject to possible redemption as of December 31, 2023 
    $49,857,596 
  
    Plus: 

    Accretion of carrying value to redemption value 
     1,936,948 
  
    Less: 

    Redemptions 
     (23,671,533)
  
    Class A ordinary shares subject to possible redemption as of December 31, 2024 
     28,123,011 
  
    Plus: 

    Accretion of carrying value to redemption value 
     143,299 
  
    Less: 

    Redemptions 
     (27,428,399)
  
    Class A ordinary shares subject to possible redemption as of September 30, 2025 
    $837,911 

Income Taxes

ASC 740 prescribes a recognition threshold and
a measurement attribute for the financial statement recognition