Constellation Acquisition Corp I (CSTAF): debt financing — Constellation Acquisition Corp I draws $150K to extend business combination deadline by one month

Constellation Acquisition Corp I

Drew $150,000 under unsecured promissory note with Constellation Sponsor LP for first of nine possible one-month extensions.
Extends deadline to complete initial business combination from April 29, 2023 to May 29, 2023.
Note bears no interest, matures upon closing of business combination; repayment only from funds outside trust if no deal.
Up to $1,270,000 principal may be converted into warrants at $1.50 per warrant, identical to existing private placement warrants.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Constellation Acquisition Corp I incurred loan of $150,000 with Constellation Sponsor LP at does not bear interest maturing upon closing of the Company's initial business combination.

Instrument: loan
Principal: $150,000
Counterparty: Constellation Sponsor LP
Rate: does not bear interest
Maturity: upon closing of the Company's initial business combination
Event: incurrence

Exact text from the filing

On April 28, 2023, Constellation Acquisition Corp I (the “Company”) drew an aggregate of $150,000 (the “Extension Funds”), as approved by unanimous director resolution, dated April 24, 2023, pursuant to the unsecured promissory note, dated January 30, 2023 between the Company and Constellation Sponsor LP (the “Note”), which Extension Funds the Company deposited into the Company’s trust account for its public shareholders.

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Constellation Acquisition Corp I filing history →

Source: SEC EDGAR

accession 0001213900-23-033899

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