Company: CSTAF
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074972
Chunk: 53

Company: Constellation Acquisition Corp I
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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 per warrant, which warrants will be identical to the Private Placement Warrants issued to the Sponsor at the time of the IPO of the Company. As of June 30, 2025 and December 31, 2024, $2,951,000 is outstanding under this Extension Note.

25

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    On January 30, 2024, the Company issued the 2024 Note in the amount of $1,660,000, 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. Unless otherwise set forth in the amendment, all other provisions of the 2024 Note remain in full force and effect. 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. As of June 30, 2025 and December 31, 2024, $1,685,000 and $1,365,000 is outstanding under the 2024 Note, respectively.

We cannot provide any assurance that new financing
along the lines detailed above will be available to us on commercially acceptable terms, if at all. Further, we have until the Termination
Date to consummate a Business Combination, but we cannot provide assurance that we will be able to consummate a Business Combination by
that date. If a Business Combination is not consummated by the required date, there will be a mandatory liquidation and subsequent dissolution.
In connection with the Company’s assessment of going concern considerations in accordance with ASU 2014-15, “Disclosures of
Uncertainties about an Entity’s Ability to Continue as a Going Concern,” the liquidity condition and mandatory liquidation
raise substantial doubt about the Company’s ability to continue as a going concern until the earlier of the consummation of the
Business Combination or January 29, 2026, the date the Company is required to liquidate. These unaudited condensed financial statements
do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be
necessary should the Company be unable to continue as a going concern.

We intend to complete our Business Combination
before the mandatory liquidation date; however, there can be no