Constellation Acquisition Corp I 8-K

What Happened

• Constellation Acquisition Corp I announced on March 26, 2026 that it drew $5,000 (the "Extension Funds") under an unsecured promissory note dated January 30, 2024 with Constellation Sponsor LP.
• The $5,000 was deposited into the Company’s trust account for public shareholders to extend the deadline to complete its initial business combination from March 29, 2026 to April 29, 2026. The extension was approved by unanimous resolution of the Company’s extension committee.
• This is the second of up to eleven one‑month extensions permitted under the Company’s amended and restated memorandum and articles of association.

Key Details

• Amount drawn: $5,000 on March 26, 2026.
• New SPAC deadline: extended from March 29, 2026 to April 29, 2026.
• Note terms: unsecured, non‑interest bearing, dated January 30, 2024; matures upon closing of the initial business combination.
• Repayment if no deal: the Note will be repaid only from amounts remaining outside the trust account, if any.

Why It Matters

• The entry of these Extension Funds gives the SPAC an additional month to complete a merger or acquisition, which directly affects the timeline for shareholder outcomes (redemption, transaction, or liquidation).
• The funds were placed into the trust account for public shareholders, maintaining the cash available to those shareholders while creating an unsecured obligation to the sponsor.
• Because the Note is non‑interest bearing and repayable only from non‑trust assets if no deal occurs, the sponsor bears most risk of providing the extension funding; investors should note this is one of multiple possible monthly extensions allowed under the company’s governing documents.