--- title: "CONSTELLATION ACQUISITION CORP I C/WTS 29/01/2028 (TO PUR COM) | 10-Q: FY2026 Q1 Revenue: USD 0" type: "News" locale: "en" url: "https://longbridge.com/en/news/286609940.md" datetime: "2026-05-15T20:24:17.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286609940.md) - [en](https://longbridge.com/en/news/286609940.md) - [zh-HK](https://longbridge.com/zh-HK/news/286609940.md) --- # CONSTELLATION ACQUISITION CORP I C/WTS 29/01/2028 (TO PUR COM) | 10-Q: FY2026 Q1 Revenue: USD 0 Revenue: As of FY2026 Q1, the actual value is USD 0. EPS: As of FY2026 Q1, the actual value is USD -0.09. EBIT: As of FY2026 Q1, the actual value is USD -1.96 M. CONSTELLATION ACQUISITION CORP I is a blank check company that has not commenced operations or generated operating revenues through March 31, 2026, with activity focused on its formation and identifying a target for a business combination; non-operating income is generated from interest on IPO proceeds . #### Net Loss - For the three months ended March 31, 2026, the net loss was - $686,786, compared to - $446,908 for the three months ended March 31, 2025 . #### Loss from Operations - The loss from operations was - $1,955,632 for the three months ended March 31, 2026, an increase from - $414,695 for the three months ended March 31, 2025 . #### General and Administrative Costs - General and administrative costs amounted to $1,955,632 for the three months ended March 31, 2026, up from $414,695 for the three months ended March 31, 2025 . #### Other Income (Expense), Net - Other income (expense), net, was $1,268,846 for the three months ended March 31, 2026, primarily due to a $1,263,996 gain from the change in fair value of warrant liabilities, partially offset by $4,850 in interest earned on cash held in the Trust Account . - For the three months ended March 31, 2025, this figure was - $32,213, resulting from a - $116,129 loss from the change in fair value of warrant liabilities, partially offset by $83,916 in interest earned on cash held in the Trust Account . #### Cash Flow from Operating Activities - Net cash used in operating activities was - $139,839 for the three months ended March 31, 2026, compared to - $181,160 for the three months ended March 31, 2025 . #### Cash Flow from Investing Activities - Net cash provided by investing activities was $223,039 for the three months ended March 31, 2026, a decrease from $27,413,399 for the three months ended March 31, 2025 . #### Cash Flow from Financing Activities - Net cash used in financing activities was - $83,039 for the three months ended March 31, 2026, significantly lower than - $27,228,399 for the three months ended March 31, 2025 . #### Key Balance Sheet Metrics - **Cash**: $5,127 as of March 31, 2026, compared to $4,966 as of December 31, 2025 . - **Cash held in Trust Account**: $641,254 as of March 31, 2026, down from $859,443 as of December 31, 2025 . - **Warrant Liabilities**: $1,263,995 as of March 31, 2026, a decrease from $2,527,991 as of December 31, 2025 . - **Working Capital Deficit**: - $8,672,879 as of March 31, 2026, net of the convertible promissory note – related party . - **Promissory Notes – related party**: $2,277,109 as of March 31, 2026, compared to $2,122,109 as of December 31, 2025 . - **Convertible promissory note – related party**: $3,181,000 as of both March 31, 2026, and December 31, 2025 . #### Future Outlook and Strategy CONSTELLATION ACQUISITION CORP I entered a Business Combination Agreement with HiTech Minerals Inc. on April 9, 2026, with an expected closing in the second half of 2026, subject to approvals, and faces a liquidity challenge with a working capital deficit and mandatory liquidation dates, raising substantial doubt about its ability to continue as a going concern without completing the Business Combination . To address this, the Sponsor has provided funds through promissory notes totaling approximately $5,458,109 in borrowings and $390,000 in related administrative fees as of March 31, 2026, and the Company received a waiver for Deferred Underwriting Fees from Deutsche Bank Securities Inc. . ### Related Stocks - [CSTWF.US](https://longbridge.com/en/quote/CSTWF.US.md) ## Related News & Research - [Allspring Global Investments Holdings LLC Sells 8,426 Shares of Watts Water Technologies, Inc. $WTS](https://longbridge.com/en/news/293715240.md) - [NWPX: Q2 2026 backlog and cash flow remain strong as acquisitions and funding drive growth](https://longbridge.com/en/news/294344556.md) - [UniCredit S.p.A. reports Q2 results; updates FY2026 outlook](https://longbridge.com/en/news/293581489.md) - [Workday (WDAY) Could Be 18% Undervalued On Analyst Scrutiny And Earnings Focus](https://longbridge.com/en/news/293812729.md) - [What the Capital One-Discover tie-up means for the card business now](https://longbridge.com/en/news/293828510.md)