Constellation Acquisition Corp I (NYSE:CSTA.U) announced a private placement of an unsecured promissory note for gross proceeds of up to $699,999 on February 23, 2021. The transaction included participation from certain affiliates of returning investor Constellation Sponsor GmbH & Co. KG. The note bears no interest. The note is payable in full upon the earlier to occur of (i) 24 months from the closing of the initial public offering or (ii) the consummation of the company’s business combination. The note is convertible into private placement warrants, each warrant exercisable for one ordinary share of the company at an exercise price of $1.50 per share. The company may receive the funding in be drawn downs from time to time until the company consummates its initial business combination.