Constellation Acquisition Corp I (CSTAF): debt financing — Constellation Acquisition I draws $55K to extend SPAC deadline to April 29, 2024

Constellation Acquisition Corp I

Drew $55,000 from unsecured promissory note with Constellation Sponsor LP to fund a one-month extension.
Deadline for initial business combination extended from March 29 to April 29, 2024.
This is the second of eleven permitted one-month extensions under the company's charter.
Note is non-interest bearing, matures upon business combination closing; repayment only from non-trust funds if no deal.

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 $55,000 with Constellation Sponsor LP at does not bear interest maturing matures upon closing of the Company’s initial business combination.

Instrument: loan
Principal: $55,000
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 March 28, 2024, Constellation Acquisition Corp I (the “Company”) drew an aggregate of $55,000 (the “Extension Funds”), as approved by unanimous resolution of the extension committee of the Company’s board of directors (the “Board”), dated March 28, 2024, pursuant to the unsecured promissory note, dated January 30, 2024 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 0001213900-24-027982

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