2022 Q4 Form 10-K Financial Statement
#000121390023024922 Filed on March 31, 2023
Income Statement
Concept | 2022 Q4 | 2022 | 2021 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | |||
YoY Change | |||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $238.7K | $1.107M | $1.540M |
YoY Change | -13.27% | -28.14% | |
Operating Profit | -$1.107M | -$1.540M | |
YoY Change | -28.14% | ||
Interest Expense | $2.623M | $4.474M | $43.59K |
YoY Change | 43037.01% | 10163.09% | |
% of Operating Profit | |||
Other Income/Expense, Net | $243.3K | $13.98M | $17.22M |
YoY Change | -66.45% | -18.81% | |
Pretax Income | $2.627M | $12.88M | $15.73M |
YoY Change | 475.98% | -18.13% | |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | $2.627M | $12.88M | $15.73M |
YoY Change | 475.98% | -18.13% | |
Net Earnings / Revenue | |||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | $0.07 | $0.33 | $433.6K |
COMMON SHARES | |||
Basic Shares Outstanding | |||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2022 Q4 | 2022 | 2021 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $37.74K | $37.74K | $223.4K |
YoY Change | -83.11% | -83.11% | |
Cash & Equivalents | $37.74K | ||
Short-Term Investments | |||
Other Short-Term Assets | $33.45K | $33.45K | $404.7K |
YoY Change | -91.74% | -91.74% | 75.97% |
Inventory | |||
Prepaid Expenses | $33.45K | ||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $71.20K | $71.20K | $628.1K |
YoY Change | -88.66% | -88.66% | 173.1% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $314.5M | $314.5M | $310.0M |
YoY Change | 1.44% | 1.44% | |
Other Assets | $0.00 | $0.00 | $26.40K |
YoY Change | -100.0% | -100.0% | |
Total Long-Term Assets | $314.5M | $314.5M | $310.1M |
YoY Change | 1.43% | 1.43% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $71.20K | $71.20K | $628.1K |
Total Long-Term Assets | $314.5M | $314.5M | $310.1M |
Total Assets | $314.6M | $314.6M | $310.7M |
YoY Change | 1.25% | 1.25% | 134986.13% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | |||
YoY Change | |||
Accrued Expenses | $974.0K | $974.0K | $709.4K |
YoY Change | 37.3% | 37.3% | 254.7% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $258.8K | $258.8K | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $1.233M | $1.233M | $709.4K |
YoY Change | 73.78% | 73.78% | 237.8% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $11.32M | $11.32M | $20.83M |
YoY Change | -45.64% | -45.64% | |
Total Long-Term Liabilities | $11.32M | $11.32M | $20.83M |
YoY Change | -45.64% | -45.64% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $1.233M | $1.233M | $709.4K |
Total Long-Term Liabilities | $11.32M | $11.32M | $20.83M |
Total Liabilities | $12.56M | $12.56M | $21.54M |
YoY Change | -41.71% | -41.71% | 10158.42% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$12.49M | ||
YoY Change | -40.1% | ||
Common Stock | $1.162M | ||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$12.49M | $302.0M | $289.2M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $314.6M | $314.6M | $310.7M |
YoY Change | 1.25% | 1.25% | 134986.13% |
Cashflow Statement
Concept | 2022 Q4 | 2022 | 2021 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $2.627M | $12.88M | $15.73M |
YoY Change | 475.98% | -18.13% | |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$80.83K | -$444.4K | -$1.262M |
YoY Change | -68.97% | -64.78% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | -$310.0M |
YoY Change | -100.0% | ||
Cash From Investing Activities | $0.00 | -$310.0M | |
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $312.0M | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 0.000 | $258.8K | 311.5M |
YoY Change | -99.92% | ||
NET CHANGE | |||
Cash From Operating Activities | -80.83K | -$444.4K | -1.262M |
Cash From Investing Activities | 0.000 | -310.0M | |
Cash From Financing Activities | 0.000 | $258.8K | 311.5M |
Net Change In Cash | -80.83K | -$185.6K | 223.4K |
YoY Change | -68.97% | -183.1% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$80.83K | -$444.4K | -$1.262M |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
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Derivative Gain Loss On Derivative Net
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2022-12-31 | |
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--12-31 | |
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2022 | |
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CONSTELLATION ACQUISITION CORP I | |
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E9 | |
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98-1574835 | |
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200 Park Avenue | |
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32nd Floor | |
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New York | |
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NY | |
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10166 | |
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(646) | |
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585-8975 | |
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Class A ordinary shares, par value $0.0001 per share | |
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CSTA | |
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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Note 1 — Organization and Business Operations</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Constellation Acquisition Corp I (the “Company”) is a newly organized blank check company incorporated in Cayman Islands on November 20, 2020. The Company was formed for the purpose of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (“Business Combination”).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of December 31, 2022, the Company had not commenced any operations. All activity through December 31, 2022 relates to the Company’s formation and the Initial Public Offering (“IPO”) which is described below, and identifying a target company for a Business Combination. The Company will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company generates non- operating income in the form of interest income from the proceeds derived from the IPO.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The registration statement for the Company’s IPO was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on January 26, 2021 (the “Effective Date”). On January 29, 2021, the Company consummated the IPO of 31,000,000 units (the “Units” and, with respect to the shares of Class A ordinary shares included in the Units sold, the “Public Shares”), including 1,000,000 Units issued pursuant to the partial exercise of the underwriters’ over-allotment option, at $10.00 per Unit, generating gross proceeds of $310,000,000, which is discussed in Note 3. Each Unit consists of one Class A ordinary share, and one-third of one redeemable warrant to purchase one Class A ordinary share at a price of $11.50 per whole share.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Simultaneously with the closing of the IPO, the Company consummated the sale of 5,466,667 Private Placement Warrants (the “Private Placement Warrants”), at a price of $1.50 per Private Placement Warrant, in a private placement to certain affiliates of the Company’s Sponsor, GmbH & Co. KG, a German limited partnership (the “Sponsor”), generating gross proceeds of $8,200,000, which is discussed in Note 4.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Transaction costs of the IPO amounted to $17,586,741, consisting of $6,200,000 of underwriting fees, $10,850,000 of deferred underwriting fees, and $536,741 of other offering costs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Following the closing of the IPO on January 29, 2021, $310,000,000 ($10.00 per Unit) from the net offering proceeds of the sale of the Units in the IPO and the sale of the Private Placement Warrants was placed in a trust account (the “Trust Account”) and invested in United States “government securities” within the meaning of Section 2(a)(16) of the Investment Company Act having a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment Company Act which invest only in direct U.S. government treasury obligations. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay the income taxes, if any, the Company’s amended and restated memorandum and articles of association will provide that the proceeds from the IPO and the sale of the Private Placement Warrants held in the Trust Account will not be released from the Trust Account (1) to the Company, until the completion of the initial Business Combination, or (2) to the public shareholders, until the earliest of (a) the completion of the initial Business Combination, and then only in connection with those Class A ordinary shares that such shareholders properly elected to redeem, subject to the limitations, (b) the redemption of any Public Shares properly tendered in connection with a (A) shareholder vote to amend the amended and restated memorandum and articles of association to modify the substance or timing of the Company’s obligation to provide holders of the Class A ordinary shares the right to have their shares redeemed in connection with the initial Business Combination or to redeem 100% of the Public Shares if the Company does not complete the initial Business Combination by the date by which we are required to consummate a business combination pursuant to the amended and restated memorandum and articles of association (the “Termination Date”), or (B) with respect to any other provision relating to the rights of holders of the Class A ordinary shares or pre-initial Business Combination activity, and (c) the redemption of the Public Shares if the Company has not consummated the initial Business Combination within the Combination Period. Public shareholders who redeem their Class A ordinary shares in connection with a shareholder vote described in clause (b) in the preceding sentence shall not be entitled to funds from the Trust Account upon the subsequent completion of an initial Business Combination or liquidation if the Company has not consummated an initial Business Combination within the Combination Period, with respect to such Class A ordinary shares so redeemed.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The proceeds deposited in the Trust Account could become subject to the claims of the Company’s creditors, if any, which could have priority over the claims of the public shareholders.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will provide its public shareholders with the opportunity to redeem all or a portion of their Public Shares upon the completion of the initial Business Combination either (i) in connection with a shareholder meeting called to approve the initial Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a proposed initial Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The shareholders will be entitled to redeem their shares for a pro rata portion of the amount then on deposit in the Trust Account (initially approximately $10.00 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible, but not more than ten business days, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company to pay the income taxes, if any (less up to $100,000 of interest to pay dissolution expenses), divided by the number of the then-outstanding Public Shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining shareholders and the Company’s board of directors, liquidate and dissolve, subject in the case of clauses (ii) and (iii), to the obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">There will be no redemption rights or liquidating distributions with respect to the warrants, which will expire worthless if the Company fails to consummate an initial Business Combination within the Combination Period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Sponsor, officers and directors have agreed to waive their redemption rights with respect to their Founder Shares and any Public Shares purchased during or after the IPO in connection with (i) the completion of the initial Business Combination and (ii) a shareholder vote to approve an amendment to the Company’s amended and restated memorandum and articles of association, and (iii) waive their rights to liquidating distributions from the Trust Account with respect to their Founder Shares if the Company fails to complete its initial Business Combination within the Combination Period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company’s Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with which the Company has entered into a written letter of intent, confidentiality or similar agreement or Business Combination agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per public share and (ii) the actual amount per public share held in the Trust Account as of the date of the liquidation of the trust account, if less than $10.00 per share due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of the IPO against certain liabilities, including liabilities under the Securities Act. However, the Company has not asked its Sponsor to reserve for such indemnification obligations, nor has the Company independently verified whether its Sponsor has sufficient funds to satisfy its indemnity obligations and believe that the Company’s Sponsor’s only assets are securities of the Company. Therefore, the Company cannot assure that its Sponsor would be able to satisfy those obligations.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On January 26, 2023, the Sponsor underwent a reorganization pursuant to which the limited partners of the Sponsor transferred all of their limited partnership interests to Constellation Sponsor LP, a newly formed Delaware limited partnership (the “New Sponsor”). On January 26, 2023, the Sponsor was liquidated pursuant to applicable law by the retirement of the general partner of the Sponsor (the second to last partner of the Sponsor) and all securities held by the Sponsor were distributed by operation of law to its sole remaining limited partner, the New Sponsor, following which, on January 30, 2023, control of the New Sponsor was transferred to affiliates of Antarctica Capital Partners, LLC (see Note 9).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in">On January 27, 2023, the Company held the Extension Meeting to amend the Company’s amended and restated memorandum and articles of association (the “Articles Amendment”) to extend the date by which the Company has to consummate a business combination from January 29, 2023 (the “Original Termination Date”) to April 29, 2023 (the “Articles Extension Date”) and to allow the Company, without another shareholder vote, to elect to extend the Termination Date to consummate a business combination on a monthly basis for up to nine times by an additional one month each time after the Articles Extension Date, by resolution of the Company’s board of directors if requested by the Sponsor, and upon five days’ advance notice prior to the January 29, 2024 (the “Termination Date”), or a total of up to twelve months after the Original Termination Date, unless the closing of the Company’s initial business combination shall have occurred prior to such date (the “Extension Amendment Proposal”). The shareholders of the Company approved the Extension Amendment Proposal at the Extension Meeting and on January 31, 2023, the Company filed the Articles Amendment with the Registrar of Companies of the Cayman Islands (see Note 9).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in">In connection with the vote to approve the Extension Amendment Proposal, the holders of 26,506,157 Class A ordinary shares, par value $0.0001 per share, of the Company properly exercised their right to redeem their shares for cash at a redemption price of approximately $10.167 per share, for an aggregate redemption amount of approximately $269,485,746 (see Note 9).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Risks and Uncertainties</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in">Management continues to evaluate the impact of the COVID-19 pandemic on the industry and has concluded that while it is reasonably possible that it could have a negative effect on the Company’s financial position, results of its operations and/or search for a target company, the specific impact is not readily determinable as of the date of these financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="text-indent: 0.5in; margin: 0pt; font: 10pt Times New Roman, Times, Serif">Management acknowledges that the Company depends on a variety of U.S. and multi-national financial institutions for banking services. Market conditions can impact the viability of these institutions, which in effect will effect the Company’s ability to maintain and provide assurances that the Company can access its cash and cash equivalents in a timely manner or at all. Any inability to access or delay in accessing these funds could adversely affect the Company’s liquidity, business and financial condition.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In February 2022, the Russian Federation and Belarus commenced a military action with the country of Ukraine. As a result of this action, various nations, including the United States, have instituted economic sanctions against the Russian Federation and Belarus. Further, the impact of this action and related sanctions on the world economy is not determinable as of the date of these financial statements. The specific impact on the Company’s financial condition, results of operations, and cash flows is also not determinable as of the date of these financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Liquidity and Going Concern Consideration</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of December 31, 2022, the Company had $37,743 in its operating bank account, and a working capital deficit of $1,161,579.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company is within 12 months of its mandatory liquidation as of the time of filing this 10K. In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” the liquidity condition and mandatory liquidation raise substantial doubt about the Company’s ability to continue as a going concern until the earlier of the consummation of the Business Combination or the Termination Date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As such, management plans to consummate a business combination prior to the mandatory liquidation date. If the Company’s estimates of the costs of identifying a target business, undertaking in-depth due diligence and negotiating a Business Combination are less than the actual amount necessary to do so, the Company may have insufficient funds available to operate its business prior to an Initial Business Combination. Moreover, the Company may need to obtain additional financing either to complete an Initial Business Combination or because it becomes obligated to redeem a significant number of its public shares upon completion of an Initial Business Combination, in which case the Company may issue additional securities or incur debt in connection with such Initial Business Combination. </p> | |
CY2021Q1 | csta |
Gross Proceeds
GrossProceeds
|
310000000 | usd |
CY2022Q4 | csta |
Private Placement Warrant
PrivatePlacementWarrant
|
1.5 | |
CY2022 | csta |
Gross Proceeds
GrossProceeds
|
8200000 | usd |
CY2022Q4 | us-gaap |
Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
|
17586741 | usd |
CY2022 | us-gaap |
Other Underwriting Expense
OtherUnderwritingExpense
|
6200000 | usd |
CY2022Q4 | us-gaap |
Financing Receivable Deferred Income
FinancingReceivableDeferredIncome
|
10850000 | usd |
CY2022Q4 | us-gaap |
Other Ownership Interests Offering Costs
OtherOwnershipInterestsOfferingCosts
|
536741 | usd |
CY2021Q1 | csta |
Net Offering Proceeds
NetOfferingProceeds
|
310000000 | usd |
CY2021Q1 | csta |
Sale Of Stock Issue Price Per Share
SaleOfStockIssuePricePerShare
|
10 | |
CY2021Q1 | us-gaap |
Maturity Of Time Deposits
MaturityOfTimeDeposits
|
P185D | |
CY2021Q1 | csta |
Percentage Of Public Shareholding To Be Redeemed In Case Business Combination Is Not Consummated
PercentageOfPublicShareholdingToBeRedeemedInCaseBusinessCombinationIsNotConsummated
|
1 | pure |
CY2022 | csta |
Shares Issued Price Per Share1
SharesIssuedPricePerShare1
|
10 | |
CY2022Q4 | us-gaap |
Liquidation Basis Of Accounting Accrued Costs To Dispose Of Assets And Liabilities
LiquidationBasisOfAccountingAccruedCostsToDisposeOfAssetsAndLiabilities
|
100000 | usd |
CY2022Q4 | csta |
Per Share Amount To Be Maintained In The Trust Account
PerShareAmountToBeMaintainedInTheTrustAccount
|
10 | shares |
CY2022Q4 | csta |
Redemption Price Per Share
RedemptionPricePerShare
|
10.167 | |
CY2022Q4 | us-gaap |
Temporary Equity Aggregate Amount Of Redemption Requirement
TemporaryEquityAggregateAmountOfRedemptionRequirement
|
269485746 | usd |
CY2022Q4 | csta |
Operating Bank Account
OperatingBankAccount
|
37743 | usd |
CY2022Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
1161579 | usd |
CY2022 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Use of Estimates</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Accordingly, actual results could differ from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. One of the more significant accounting estimates included in these financial statements is the determination of the fair value of the warrant liability. Such estimates may be subject to change as more current information becomes available and, accordingly, the actual results could differ significantly from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> | |
CY2021Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
310000000 | usd |
CY2022 | us-gaap |
Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
|
4517268 | usd |
CY2022 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-indent: 0.5in"><b>Concentration of Credit Risk</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times, may exceed the Federal Deposit Insurance Corporation coverage of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> | |
CY2022 | us-gaap |
Insurance Commissions
InsuranceCommissions
|
250000 | usd |
CY2022Q4 | us-gaap |
Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
|
17586741 | usd |
CY2022 | csta |
Noninterest Expense Offering Costs
NoninterestExpenseOfferingCosts
|
1143138 | usd |
CY2021 | csta |
Gross Proceed
GrossProceed
|
310000000 | usd |
CY2021 | us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
20150000 | usd |
CY2021 | us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
16443603 | usd |
CY2021 | us-gaap |
Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
|
36593603 | usd |
CY2022Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
314517268 | usd |
CY2021Q1 | csta |
Ordinary Shares Sold Units
OrdinarySharesSoldUnits
|
31000000 | shares |
CY2021Q1 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
10 | |
CY2021Q1 | csta |
Initial Public Offering Description
InitialPublicOfferingDescription
|
Each Unit consists of one Class A ordinary share, and one-third of one redeemable warrant to purchase one Class A ordinary share (the “Public Warrants”). | |
CY2022Q4 | us-gaap |
Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
|
P5Y | |
CY2022 | us-gaap |
Sale Of Stock Description Of Transaction
SaleOfStockDescriptionOfTransaction
|
In addition, if (x) the Company issues additional Class A ordinary shares or equity linked securities for capital raising purposes in connection with the closing of the initial Business Combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by the board of directors and, in the case of any such issuance to the initial shareholders or their affiliates, without taking into account any Founder Shares held by the initial shareholders or such affiliates, as applicable, prior to such issuance including any transfer or reissuance of such shares (the “Newly Issued Price”)), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest, available for the funding of the initial Business Combination, and (z) the volume-weighted average trading price of the Class A ordinary shares during the 10 trading day period starting on the trading day after the day on which the Company consummates the initial Business Combination is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $10.00 and $18.00 per share redemption trigger prices adjacent to “Redemption of warrants for Class A ordinary shares when the price per Class A ordinary share equals or exceeds $10.00.” and “Redemption of warrants for Class A ordinary shares when the price per Class A ordinary share equals or exceeds $18.00.” will be adjusted (to the nearest cent) to be equal to 100% and 180% of the higher of the Market Value and the Newly Issued Price, respectively. | |
CY2022 | csta |
Redemption Of Warrants Description
RedemptionOfWarrantsDescription
|
Redemptions of warrants for cash when the price per Class A ordinary share equals or exceeds $10.00. Once the warrants become exercisable, the Company may call the warrants for redemption (except as described herein with respect to the Private Placement Warrants): ●in whole and not in part; ●at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption; provided that during such 30 day period holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares determined by reference to the table in the registration statement, based on the redemption date and the “fair market value” of the Class A ordinary shares (as defined below) except as otherwise described below; provided, further, that if the warrants are not exercised on a cashless basis or otherwise during such 30 day period, the Company shall redeem such warrants for $0.10 per share; ●if, and only if, the Reference Value equals or exceeds $10.00 per share (as adjusted for share subdivisions, share dividends, reorganizations, recapitalizations and the like) on the trading day before the Company sends the notice of redemption to the warrant holders; and ●if the Reference Value is less than $18.00 per share (as adjusted for share subdivisions, share dividends, reorganizations, recapitalizations and the like), the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding public warrants. | |
CY2022 | csta |
Founder Shares
FounderShares
|
1125000 | shares |
CY2021Q1 | us-gaap |
Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
|
250000 | shares |
CY2021Q1 | csta |
Founder Shares Forfeited
FounderSharesForfeited
|
875000 | shares |
CY2022 | csta |
Initial Business Combination
InitialBusinessCombination
|
P1Y | |
CY2020Q4 | us-gaap |
Debt Instrument Unused Borrowing Capacity Amount
DebtInstrumentUnusedBorrowingCapacityAmount
|
1300 | usd |
CY2021Q1 | csta |
Working Capital Loan
WorkingCapitalLoan
|
88540 | usd |
CY2021Q1 | us-gaap |
Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
|
89840 | usd |
CY2021Q1 | us-gaap |
Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
|
699999 | usd |
CY2022Q4 | us-gaap |
Unsecured Debt
UnsecuredDebt
|
258780 | usd |
CY2022Q4 | csta |
Outstanding Value
OutstandingValue
|
258780 | usd |
CY2021Q1 | us-gaap |
Administrative Fees Expense
AdministrativeFeesExpense
|
10000 | usd |
CY2022 | csta |
Working Capital Loans
WorkingCapitalLoans
|
1500000 | usd |
CY2022 | csta |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights
|
1.5 | |
CY2022 | csta |
Overallotment Option Expiration Date
OverallotmentOptionExpirationDate
|
2021-03-15 | |
CY2022 | csta |
Trust Account
TrustAccount
|
10850000 | usd |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2022 | us-gaap |
Assets Fair Value Adjustment
AssetsFairValueAdjustment
|
310000 | usd |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0131 | pure |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y6M14D | |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
|
0.05 | pure |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
|
0.119 | pure |
CY2022Q4 | us-gaap |
Share Price
SharePrice
|
9.76 | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
|
11.5 | |
CY2022Q4 | us-gaap |
Assets Held In Trust
AssetsHeldInTrust
|
450000 | usd |
CY2022Q4 | csta |
Deposited Loans
DepositedLoans
|
150000 | usd |
CY2022 | csta |
Principal Amount
PrincipalAmount
|
1270000 | usd |
CY2022 | us-gaap |
Warrant Exercise Price Increase
WarrantExercisePriceIncrease
|
1.5 | |
CY2022 | us-gaap |
Communication
Communication
|
500000000 | usd |
CY2022 | us-gaap |
Venture Capital Gains Losses Net
VentureCapitalGainsLossesNet
|
4000000000 | usd |
CY2022Q4 | us-gaap |
Decommissioning Fund Investments
DecommissioningFundInvestments
|
800000000 | usd |
CY2022 | us-gaap |
Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
|
400000000 | usd |
CY2022Q4 | us-gaap |
Preferred Stock Redemption Price Per Share
PreferredStockRedemptionPricePerShare
|
10.167 | |
CY2022Q4 | us-gaap |
Temporary Equity Aggregate Amount Of Redemption Requirement
TemporaryEquityAggregateAmountOfRedemptionRequirement
|
269485746 | usd |
CY2022Q4 | us-gaap |
Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
|
usd | |
CY2021Q4 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
usd | |
CY2022 | csta |
Excess Of Fair Value Over Cash Received For Private Placement Warrants
ExcessOfFairValueOverCashReceivedForPrivatePlacementWarrants
|
usd | |
CY2021 | us-gaap |
Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
|
usd | |
CY2022 | csta |
Offering Costs Allocated To Warrants
OfferingCostsAllocatedToWarrants
|
usd | |
CY2022 | csta |
Excess Fair Value Over Cash Received For Private Placement Warrants
ExcessFairValueOverCashReceivedForPrivatePlacementWarrants
|
usd | |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
usd | |
CY2022 | csta |
Proceeds From Sale Of Units Net Of Underwriters Fees
ProceedsFromSaleOfUnitsNetOfUnderwritersFees
|
usd | |
CY2022 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
usd | |
CY2022 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
usd | |
CY2022 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
usd | |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
usd | |
CY2022 | csta |
Deferred Underwriters Discount Payable Charged To Additional Paidin Capital
DeferredUnderwritersDiscountPayableChargedToAdditionalPaidinCapital
|
usd | |
CY2022 | us-gaap |
Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
|
usd | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
shares | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
shares | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
CY2022 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2022 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
CY2022 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001834032 |