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How to redeem CSTAF shares

No dated redemption window is on file for Constellation I right now — the record below is what past windows paid, and the mechanics of the next one when a filing sets it.

Next windowno dated window on file

A window is set by the filing that calls the next vote; none is on file yet.

Cash held per share$13.78

As last filed, 29 July 2026. A redemption pays this figure plus interest earned since the filing.

Last redemption actually paid$13.39

Per share, at the 27 January 2026 event — a filed figure, not an estimate.

Heaviest single cash-out97.28%

30.95M shares redeemed across every filed event — ≈100% of the earliest known float.

How to redeem, step by step

The process is the same at every window; only the dates change.

  1. Find the deadline in the filing that calls the meeting — none is on file for CSTAF yet.
  2. Contact your broker and say you want to redeem (some desks say “tender”) your CSTAF shares for the trust value. Do it at least two business days before the official date.
  3. Your broker passes the instruction to the transfer agent. The shares are taken from the account; the cash ($13.78 a share as last filed, plus interest) arrives after the event settles.
  4. If the vote is cancelled or the deal changes, elections can usually be withdrawn — the proxy for each vote states the exact mechanics.

Read the steps with the record: no dated redemption election is on file for CSTAF, so this page cannot tell you a day to act by. That is a gap in the public record, not a statement that the right has gone. A deal has been announced. Before anyone can redeem, a merger proxy has to be filed — an S-4 or F-4 registration statement, or a preliminary proxy — the SEC has to clear it, and a meeting date has to be set. That meeting is where you redeem. No such date is on file with us, so there is none to show.

The general mechanics — who pays, when, and the edge cases — are in our plain-English guide to SPAC redemption. Not investment advice.

Every filed redemption event

4 events

Each time holders were offered their cash back, some took it. Every figure below is stated in the linked filing; nothing here is estimated.

In plain English

No floor / floorlessthe cash guarantee is gone — the price is unprotected

A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.

Redemption deadlinethe last day to hand shares back for cash

Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.

Broker action datethe day your broker needs the instruction — earlier than the official date

Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.

Cash in trust / trust per sharethe cash the company is holding for each public share

Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.

Trust discountbuying below the cash held for you

Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.