Constellation Acquisition (OTC: CSTAF) adds 1-month merger extension
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Constellation Acquisition Corp I drew $5,000 under an unsecured promissory note with Constellation Sponsor LP and deposited the funds into its trust account, allowing a one-month extension of the deadline to complete its initial business combination from September 29, 2025 to October 29, 2025.
This is the eighth of up to eleven one-month extensions permitted under its governing documents, giving the company more time to finalize a merger target. The note bears no interest and will mature when a business combination closes. If no transaction is completed, any repayment of the note would come only from cash held outside the trust account, if available.
Positive
- None.
Negative
- None.
8-K Event Classification
Item 2.03 — Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
1 item
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Financial
The company incurred a new significant debt or off-balance-sheet obligation.
FAQ
What did Constellation Acquisition Corp I (CSTAF) disclose in this 8-K?
The company disclosed that it drew $5,000 under an unsecured promissory note from Constellation Sponsor LP and deposited the funds into its trust account to fund a one-month extension of its business combination deadline.
How long did CSTAF extend its SPAC merger deadline?
Constellation Acquisition Corp I extended the deadline to complete its initial business combination by one month, moving it from September 29, 2025 to October 29, 2025.
How many extensions has CSTAF used so far?
This is the eighth of up to eleven one-month extensions allowed under the companys amended and restated memorandum and articles of association.
What are the terms of the promissory note supporting CSTAFs extension?
The unsecured promissory note dated January 30, 2024 between the company and Constellation Sponsor LP does not bear interest and matures upon closing of the companys initial business combination.
How will the $5,000 note be repaid if CSTAF does not complete a business combination?
If no business combination is consummated, the note will be repaid only from amounts remaining outside the companys trust account, if any.
Where were the CSTAF extension funds deposited?
The $5,000 of extension funds was deposited into Constellation Acquisition Corp Is trust account for the benefit of its public shareholders.