Constellation Acquisition uses 7th $5K extension
Constellation Acquisition Corp I (CSTAF) disclosed that on August 28, 2026 it drew $5,000 under an unsecured promissory note with Constellation Sponsor LP to fund an extension of its deadline to complete an initial business combination.
Rhea-AI Filing Summary
Constellation Acquisition Corp I (CSTAF) disclosed that on August 28, 2026 it drew $5,000 under an unsecured promissory note with Constellation Sponsor LP to fund an extension of its deadline to complete an initial business combination. The funds were deposited into the trust account for public shareholders.
This draw allows the company to extend the business combination deadline from August 29, 2026 to September 29, 2026, representing the seventh of up to eleven one-month extensions permitted under its amended and restated memorandum and articles of association. The note bears no interest and matures upon closing of the initial business combination, and if no business combination occurs it will be repaid only from amounts remaining outside the trust account, if any.
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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.
Key Figures
Extension Funds drawn: $5,000
Warrant exercise price: $11.50 per share
Prior business combination deadline: August 29, 2026
+4 more
7 metrics
Extension Funds drawn
$5,000
Aggregate amount drawn on August 28, 2026 under the unsecured promissory note
Warrant exercise price
$11.50 per share
Each whole redeemable warrant exercisable for one Class A ordinary share
Prior business combination deadline
August 29, 2026
Original date by which the company had to complete its initial business combination
Extended business combination deadline
September 29, 2026
New deadline enabled by the August 28, 2026 Extension Funds deposit
Number of extensions used
7
Seventh one‑month extension of up to eleven permitted
Maximum permitted one‑month extensions
11
Total number of one‑month extensions allowed under governing documents
Par value of Class A ordinary shares
$0.0001 per share
Par value of Class A ordinary shares registered
Key Terms
unsecured promissory note, trust account, initial business combination, Emerging growth company, +2 more
6 terms
unsecured promissory note financial
"pursuant to the unsecured promissory note, dated January 30, 2024"
An unsecured promissory note is a written IOU in which a borrower promises to repay a loan plus any interest but does not pledge any asset as collateral. Investors care because it relies solely on the borrower’s ability to pay—like lending money to someone without holding their watch as security—so it usually carries higher interest and higher risk and ranks below secured debt if the borrower defaults, affecting expected recovery and company credit profile.
trust account financial
"which Extension Funds the Company deposited into the Company’s trust account"
A trust account is a special bank or brokerage account where assets are held and managed by a designated person or firm (the trustee) for the benefit of another person or group (the beneficiary). It matters to investors because it separates assets from personal or corporate funds, can protect assets, control how and when money is used, and may affect tax or legal rights—think of it as a locked drawer opened only under agreed rules.
initial business combination financial
"date by which it must complete its initial business combination"
An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.
Emerging growth company regulatory
"Emerging growth company Item 2.03."
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
off-balance sheet arrangement financial
"Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement"
An off-balance sheet arrangement is a financial commitment or asset that a company keeps out of its main financial statements so it does not show up as a direct asset or liability. Think of it like renting equipment or using a separate storage locker instead of putting the item in your home: the economic effects exist, but they aren’t listed on the company’s primary balance sheet. Investors care because these arrangements can hide risks, obligations or sources of cash flow that affect a company’s true financial strength and future performance.
redeemable warrants financial
"Redeemable warrants, each whole warrant exercisable for one Class A ordinary share"
A redeemable warrant is a tradable right that lets its holder buy a company’s shares at a fixed price before a set date, but the issuer has the contract power to cancel (redeem) the warrant early under agreed terms. For investors this matters because early redemption can force decision-making, change the timing of when new shares might be created, and affect potential gains or dilution—much like a store coupon that the issuer can cancel by paying you off instead of letting you use it.
FAQ
What direct financial obligation did CSTAF create on August 28, 2026?
Constellation Acquisition Corp I created a $5,000 obligation by drawing on an unsecured promissory note with Constellation Sponsor LP. The company deposited these Extension Funds into its trust account to finance a one‑month extension of its initial business combination deadline.
How did CSTAF change its business combination deadline?
Constellation Acquisition Corp I extended its initial business combination deadline from August 29, 2026 to September 29, 2026 by depositing $5,000 of Extension Funds into its trust account, as allowed under its amended and restated memorandum and articles of association.
How many extensions has CSTAF used and how many are permitted?
Constellation Acquisition Corp I used the seventh of up to eleven one‑month extensions permitted under its amended and restated memorandum and articles of association, providing additional time to complete its initial business combination.
What are the key terms of CSTAF’s promissory note for the Extension Funds?
The promissory note for the $5,000 Extension Funds is unsecured, bears no interest, and matures upon closing of Constellation Acquisition Corp I’s initial business combination. If no business combination is consummated, repayment will occur only from funds remaining outside the trust account, if any.
What are CSTAF’s listed securities and warrant exercise price?
Constellation Acquisition Corp I lists Class A ordinary shares, redeemable warrants, and units on the OTCID Basic Market. Each whole redeemable warrant is exercisable for one Class A ordinary share at an exercise price of $11.50 per share.
AI-generated analysis. How Rhea-AI works. Not financial advice.
