Constellation Acquisition Corp I Reports Net Loss of $220,858 for Quarter Ending June 30, 2025

Constellation Acquisition Corp I reported its financial results for the quarter ending June 30, 2025, revealing a net loss of approximately $220,858, compared to a net income of $204,957 for the same period in 2024. The company recorded a loss from operations of $265,079, which was partially offset by interest income of $7,091 from cash held in its Trust Account. For the six months ending June 30, 2025, the net loss totaled $667,766, reflecting a significant increase in operational losses compared to a loss of $289,193 in the prior year.

The company's balance sheet showed a substantial decline in total assets, which decreased to $856,074 from $28,184,577 at the end of 2024. This decline was primarily due to a significant reduction in cash held in the Trust Account, which fell from $28,123,011 to $815,619. The company also reported a working capital deficit of $6,283,278, indicating financial strain as it approaches its mandatory liquidation date. The total liabilities increased to $20,686,532, up from $19,918,870, largely driven by rising accounts payable and accrued expenses.

In terms of operational developments, Constellation Acquisition Corp I has not yet completed a business combination, which is the primary goal of the company. The company has been actively seeking a target for acquisition but has faced challenges in finalizing a deal. As of June 30, 2025, the company had 7,664,302 Class A ordinary shares outstanding, with 64,302 shares subject to possible redemption. The company has extended its deadline for completing a business combination multiple times, with the latest extension allowing until January 29, 2026.

The filing also highlighted the company's reliance on loans from its sponsor to cover operational expenses, with outstanding borrowings totaling approximately $5,093,208 as of June 30, 2025. The company has indicated that it may need to secure additional financing to complete a business combination or to manage redemptions of public shares. Management expressed concerns regarding the company's ability to continue as a going concern, emphasizing the need to finalize a business combination before the liquidation deadline.

Looking ahead, Constellation Acquisition Corp I remains focused on identifying a suitable target for acquisition. However, the company acknowledges the uncertainty surrounding its ability to complete a business combination within the required timeframe. The management's outlook is cautious, as they continue to navigate the challenges of the current market environment while seeking to enhance shareholder value through a successful merger or acquisition.