This S-4/A filing is Amendment No. 3 to the registration statement for the business combination between SPAC Constellation Acquisition Corp I (CSTA) and HiTech Minerals Inc., owner of the McDermitt Lithium Project. The combined entity, US Elemental Inc., will issue up to 59.3M shares of common stock, 1,550 preferred shares, and 31.6M warrants. The deal values HiTech at $500M equity, with Jindalee Lithium (ASX: JLL) receiving 50M shares and owning ~85% of the post-combination company. The filing is routine procedural progress toward the shareholder vote and closing.
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Executive Summary
This S-4/A filing is Amendment No. 3 to the registration statement for the business combination between SPAC Constellation Acquisition Corp I (CSTA) and HiTech Minerals Inc., owner of the McDermitt Lithium Project. The combined entity, US Elemental Inc., will issue up to 59.3M shares of common stock, 1,550 preferred shares, and 31.6M warrants. The deal values HiTech at $500M equity, with Jindalee Lithium (ASX: JLL) receiving 50M shares and owning ~85% of the post-combination company. The filing is routine procedural progress toward the shareholder vote and closing.
Key Facts
- Business Combination Agreement dated April 9, 2026, between CSTA, US Elemental, and HiTech Minerals Inc.
- HiTech valued at $500M equity; Jindalee to receive 50M shares of US Elemental common stock.
- Minimum cash condition of $14M required at closing; only ~$660K remains in CSTA trust account as of June 30, 2026.
- PIPE financing of ~$23.5M expected but no binding agreements executed as of filing date.
- Sponsor (Constellation Sponsor LP) holds 97.7% of CSTA shares and will vote in favor; public shareholders own ~0.6%.
- Post-combination, Jindalee will own ~85% of US Elemental, making it a 'controlled company' under Nasdaq rules.
- CSTA warrants (15.8M) and loan warrants (15.8M) will be assumed by US Elemental.
- Antarctica Holder committed $4M financing via Series A Preferred Stock and PIPE commitment.
- Pro forma net loss per share of $(0.38) for year ended June 30, 2026.
- Deutsche Bank waived $6.51M of deferred underwriting fees; $4.34M remains payable to Morgan Stanley.
Financial Impact
Transaction valued at $500M equity; pro forma cash to balance sheet of $10M (no redemption scenario); pro forma net loss of $(0.38)/share.
Documents Analyzed
This report is based on 15 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| S-4/A Filing (Primary) | 0001213900-26-101614 |
| Document: ea029122005ex-fee.htm | 0001213900-26-101614 |
| Document: ea029122005ex5-1.htm | 0001213900-26-101614 |
| Document: ea029122005ex3-1.htm | 0001213900-26-101614 |
| Document: ea029122005ex99-1.htm | 0001213900-26-101614 |
| Document: ea029122005ex16-1.htm | 0001213900-26-101614 |
| Document: ea029122005ex99-3.htm | 0001213900-26-101614 |
| Document: ea029122005ex99-2.htm | 0001213900-26-101614 |
| Document: ea029122005ex23-1.htm | 0001213900-26-101614 |
| Document: ea029122005ex23-4.htm | 0001213900-26-101614 |
| Document: ea029122005ex23-3.htm | 0001213900-26-101614 |
| Document: ea029122005ex23-2.htm | 0001213900-26-101614 |
| Document: 0001213900-26-101614-index-headers.html | 0001213900-26-101614 |
| Document: 0001213900-26-101614-index.html | 0001213900-26-101614 |
| Document: 0001213900-26-101614.txt | 0001213900-26-101614 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 21d ago | 425 | — | awaiting T+20 | — | — |
Sep 21, 2026 5w ago | S-4/A | — | awaiting T+20 | — | — |
Jun 26, 2026 17w ago | S-4/A | — | awaiting T+20 | — | — |
Jun 22, 2026 18w ago | 425 | — | awaiting T+20 | — | — |
Jun 9, 2026 19w ago | 425 | — | awaiting T+20 | — | — |
Jun 9, 2026 19w ago | 425 | — | awaiting T+20 | — | — |
Jun 4, 2026 20w ago | 425 | — | awaiting T+20 | — | — |
US Market Status
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