Constellation Acquisition Corp I (CSTAF): debt financing — Constellation Acquisition Corp I draws $150K from sponsor note to extend SPAC deadline to Dec 29, 2023

Constellation Acquisition Corp I

Deposited $150,000 into trust to extend business combination deadline from Nov 29 to Dec 29, 2023.
Eighth of nine allowed one-month extensions under amended charter.
Non-interest-bearing note matures at deal close; repayment only from trust-excess funds if no deal.
Up to $1,270,000 of note 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 November 28, 2023, Constellation Acquisition Corp I (the “Company”) drew an aggregate of $150,000 (the “Extension Funds”), as approved by unanimous director resolution, dated November 23, 2023, pursuant to the unsecured promissory note, dated January 30, 2023 between the Company and Constellation Sponsor LP (the “Note”)

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Constellation Acquisition Corp I filing history →

Source: SEC EDGAR

accession 0001213900-23-091034

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