stellation Acquisition I(CSTA) - 2023 Q1 - Quarterly Report

Financial Performance - As of March 31, 2023, the Company reported a net loss of approximately $0.9 million, including a loss from operations of$1.3 million[129] - The Company incurred a loss from the change in fair value of warrant liabilities amounting to $1.0 million for the three months ended March 31, 2023[129] Capital and Funding - The Company raised gross proceeds of$310.0 million from the Initial Public Offering, with offering costs amounting to $17.6 million[117] - The Trust Account balance after redemptions was approximately$46.1 million following the redemption of 26,506,157 Class A ordinary shares at about $10.167 per share[127] - The Company had a working capital deficit of$1,596,683 as of March 31, 2023[123] Business Operations - The Company has until the end of the Combination Period to complete a Business Combination, or it will liquidate and redeem Public Shares[121] - The Company generated non-operating income of $1.4 million from interest on investments held in the Trust Account[129] Debt and Obligations - The Company has no long-term debt obligations or capital lease obligations[132] Interest and Growth Classification - The interest rate on the Trust Account's cash deposit is currently approximately 2.5% - 3.0% per annum[140] - The Company is classified as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards[138]