Constellation Acquisition Corp I 8-K

What Happened
Constellation Acquisition Corp I (CSTAF) announced on May 28, 2026 that it drew $5,000 (the "Extension Funds") under an unsecured promissory note dated January 30, 2024 between the Company and Constellation Sponsor LP. The Company deposited the $5,000 into its public shareholders' trust account, enabling a one-month extension of the deadline to complete its initial business combination from May 29, 2026 to June 29, 2026. The draw was approved by unanimous resolution of the extension committee and is the fourth of up to eleven one-month extensions allowed under the Company's amended and restated memorandum and articles of association.

Key Details

• $5,000 drawn on May 28, 2026 and deposited into the Company’s trust account.
• Extension moves the SPAC combination deadline from May 29, 2026 to June 29, 2026 (one-month extension).
• The draw was made under an unsecured promissory note (dated Jan 30, 2024) between the Company and Constellation Sponsor LP; the Note bears no interest and matures upon closing of the initial business combination.
• If the Company does not complete a business combination, the Note will be repaid only from amounts remaining outside the Company’s trust account, if any.

Why It Matters
For investors, this filing confirms the SPAC has secured a small sponsor-funded deposit to extend the time to complete a merger by one month. The deposit goes into the trust account that holds public shareholders' funds, preserving shareholder redemption rights while providing the sponsor-funded extension. The note is non‑interest-bearing, unsecured, and repayment (if any) is limited to amounts outside the trust account, so public trust funds remain protected.