Constellation Acquisition Corp I (CSTAF) Form 10-Q — May 15, 2026
Constellation Acquisition Corp I reported a net loss of $686,786 for the quarter ended March 31, 2026, with only $5,127 in operating cash and a working capital deficit of $8.67 million. The company has raised substantial doubt about its ability to continue as a going concern, with mandatory liquidation looming on May 29, 2026, unless a business combination is completed. In a significant development, the company entered into a Business Combination Agreement on April 9, 2026, to merge with HiTech Minerals, Inc., a subsidiary of Jindalee Lithium Limited. The transaction values the combined entity at $500 million and involves a new surviving entity, US Elemental Inc.
Key figures
- Total Debt
- 24008276
- Total Assets
- 681656
- Cash Position
- 5127
- Deal Value Usd
- 500000000
- Shares Outstanding
- 7646529
- Termination Date
- 2026-05-29
- Trust Account Balance
- 641254
- Public Shares Outstanding
- 46529
- Sponsor Shares Outstanding
- 7600000
Price after filing
Close on the filing date to close N calendar days later (from $13.05). Historical, not a forecast.
AI analysis
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