Constellation Acquisition Corp I (CSTAF): debt financing — Constellation Acquisition draws $150K extension loan, pushing business combination deadline to Jan 29, 2024

Constellation Acquisition Corp I

Drew $150,000 under unsecured promissory note from Constellation Sponsor LP to extend deadline from Dec 29, 2023 to Jan 29, 2024.
This is the ninth and final permitted one-month extension under the company's amended articles.
Note is non-interest bearing, matures upon business combination; repayment only from funds outside trust if no deal closes.
Up to $1,270,000 of principal may be converted into warrants at $1.50 per warrant, identical to 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 0.9

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 December 28, 2023, Constellation Acquisition Corp I (the “Company”) drew an aggregate of $150,000 (the “Extension Funds”), as approved by unanimous director resolution, dated December 22, 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 0001213900-23-099908

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