CONSTELLATION ACQUISITION CORP I C/WTS 29/01/2028 (TO PUR COM) | 10-K: FY2025 Revenue: USD 0

Revenue: As of FY2025, the actual value is USD 0.

EPS: As of FY2025, the actual value is USD -0.41.

EBIT: As of FY2025, the actual value is USD -1.174 M.

Operational Metrics

• Net Loss:
  • CONSTELLATION ACQUISITION CORP I reported a net loss of approximately - $3,200,000 for the year ended December 31, 2025, compared to a net loss of approximately - $248,243 for the year ended December 31, 2024.
• Loss from Operations:
  • Loss from operations was approximately - $1,100,000 for the year ended December 31, 2025, compared to approximately - $1,572,590 for the year ended December 31, 2024.
• Change in Fair Value of Warrant Liabilities:
  • The company reported a loss from the change in fair value of warrant liabilities of approximately - $2,300,000 for the year ended December 31, 2025, compared to a gain of $47,399 for the year ended December 31, 2024.
• Interest Earned on Cash Held in Trust Account:
  • Interest income was approximately $105,000 for the year ended December 31, 2025, a decrease from $1,276,948 for the year ended December 31, 2024.

Cash Flow

• Net Cash Used in Operating Activities:
  • Net cash used in operating activities was - $470,238 for the year ended December 31, 2025, an improvement from - $753,238 for the year ended December 31, 2024.
• Net Cash Provided by Investing Activities:
  • Net cash provided by investing activities was $27,368,399 for the year ended December 31, 2025, compared to $23,011,533 for the year ended December 31, 2024. This includes cash withdrawn from the Trust Account for redemptions ($27,428,399 in 2025 and $23,671,533 in 2024).
• Net Cash Used in Financing Activities:
  • Net cash used in financing activities was - $26,898,498 for the year ended December 31, 2025, compared to - $22,256,533 for the year ended December 31, 2024. This includes redemptions of Class A ordinary shares (- $27,428,399 in 2025 and - $23,671,533 in 2024) and proceeds from promissory notes to related parties ($529,901 in 2025 and $1,365,000 in 2024).

Unique Metrics

• Trust Account Balance:
  • As of December 31, 2025, the balance in the Trust Account was approximately $778,970. Following redemptions and an initial deposit related to the 2026 Shareholder Meeting, the balance was approximately $628,176. As of December 31, 2024, the balance was approximately $26,415,545.
• Working Capital Deficit:
  • As of December 31, 2025, CONSTELLATION ACQUISITION CORP I had a working capital deficit of - $6,702,247, net of the convertible promissory note – related party.
• Promissory Notes – Related Party:
  • As of December 31, 2025, $2,122,109 was outstanding under promissory notes to related parties, compared to $1,592,208 as of December 31, 2024.
• Convertible Promissory Note – Related Party:
  • As of December 31, 2025 and 2024, $3,181,000 was outstanding under this note.

Outlook / Guidance

CONSTELLATION ACQUISITION CORP I expects its proposed business combination with HiTech Minerals Inc. to close in the second half of 2026, with an aggregate equity value of $500 million, subject to shareholder approvals and other closing conditions. Management aims to complete a business combination before the mandatory liquidation date, but acknowledges that completion by the Termination Date is not guaranteed. Additional financing may be required if costs exceed estimates or if significant redemptions occur.