Constellation Acquisition Corp I (CSTAF): debt financing — Constellation Acquisition Corp I draws $150K note for third one-month extension to July 29, 2023

Constellation Acquisition Corp I

Drew $150,000 from Sponsor LP under unsecured promissory note to extend business combination deadline.
Extension is third of nine permitted month-long extensions; new deadline July 29, 2023.
Note is non-interest bearing; matures upon closing or from trust account if no deal.
Up to $1,270,000 of principal convertible 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 June 29, 2023, Constellation Acquisition Corp I (the “Company”) drew an aggregate of $150,000 (the “Extension Funds”), as approved by unanimous director resolution, dated June 28, 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 0001213900-23-053027

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