Constellation Acquisition Corp I (CSTAF): debt financing — Constellation Acquisition Corp I draws $150,000 to extend business combination deadline to June 29

Constellation Acquisition Corp I

Drew $150,000 under unsecured promissory note with Constellation Sponsor LP on May 26, 2023.
Funds deposited into trust account to extend business combination deadline from May 29 to June 29, 2023.
Extension is second of nine permitted one-month extensions under amended charter.
Note is non-interest bearing and matures upon closing of business combination; repayment limited to funds outside trust.
Up to $1,270,000 of note principal may be converted into warrants at $1.50 per warrant.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

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

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

Exact text from the filing

On May 26, 2023, Constellation Acquisition Corp I (the “Company”) drew an aggregate of $150,000 (the “Extension Funds”), as approved by unanimous director resolution, dated May 20, 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 0001213900-23-043576

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