Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 921

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 5
Chunk 921
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 to complete
a Business Combination or because it becomes obligated to redeem a significant number of its Public Shares upon completion of a Business
Combination, in which case the Company may issue additional securities or incur debt in connection with such Business Combination.

Results of Operations

Our entire activity from inception through December 31, 2024 related
to our formation, the preparation for the Initial Public Offering, and since the closing of the Initial Public Offering, the search for
a prospective Business Combination. We have neither engaged in any operations nor generated any revenues to date. We will not generate
any operating revenues until after completion of our Business Combination. We generate non-operating income in the form of interest income
and dividends on cash and investments held in the Trust Account. We expect to incur increased expenses as a result of being a public company
(for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the year ended December 31, 2024, we had a net loss of approximately
$248,000, which included a loss from operations of approximately $1,600,000, partially offset by interest earned on investments held in
the Trust Account of approximately $1,300,000 and a gain from the change in fair value of warrant liabilities of approximately $47,000.

For the year ended December 31, 2023, we had a net loss of approximately
$3,600,000, which included interest earned on investments held in the Company’s Trust Account of approximately $3,000,000 and a
gain from the change in fair value of warrant liabilities of approximately $200,000, partially offset by a loss from operations of $3,560,000.

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