Constellation Acquisition I (CSTAF) has released an update.
Constellation announced that its Sponsor will contribute additional funds to the trust account if certain proposals are approved, with a deposit of $55,000 for each month the company extends its deadline to complete a business combination, up to a total of $605,000. Shareholders have until January 26, 2024, to redeem their shares or reverse redemption decisions. Furthermore, the Sponsor intends to convert 7.6 million Class B Ordinary Shares into Public Shares the day after the Shareholder Meeting and will not claim funds from the trust account for these converted shares.
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