8-K
filed May 15, 2023, 7:59 PM ET
ticker BYNO
CIK 0001801417
other material
confidence high
sentiment neutral
materiality 0.45
byNordic Acquisition Corp (BYNO): debt financing — byNordic Acquisition extends deadline to Aug 11, 2023; sponsor deposits $1.725M into trust
byNordic Acquisition Corp
- Sponsor deposits $1.725M ($0.10/share) into trust to extend business combination deadline from May 11 to Aug 11, 2023.
- Company issues $1.725M extension promissory note dated May 9, 2023 to sponsor.
- Additional $775,000 working capital promissory note issued to sponsor on May 12, 2023.
- Sponsor’s loan convertible into Class A common stock identical to those issued in the IPO private placement.
- Extension gives SPAC more time to find a target; focus remains on northern European high-tech growth companies.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
byNordic Acquisition Corp incurred loan of $1,725,000 with Water by Nordic AB.
- Instrument
- loan
- Principal
- $1,725,000
- Counterparty
- Water by Nordic AB
- Event
- incurrence
Exact text from the filing
On May 9, 2023, byNordic Acquisition Corporation (the “ Company ”) issued a promissory note (the “ Extension Note ”) in the principal amount of $1,725,000 to the Company’s sponsor, Water by Nordic AB (the “ Sponsor ”) in connection with the extension of the date by which the Company has to consummate a business combination from May 11, 2023, to August 11, 2023 (the “ Extension ”).
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
byNordic Acquisition Corp incurred loan of $775,000 with Water by Nordic AB.
- Instrument
- loan
- Principal
- $775,000
- Counterparty
- Water by Nordic AB
- Event
- incurrence
Exact text from the filing
On May 12, 2023, the Company issued a promissory note (the “Working Capital Note”) in the principal amount of $775,000 to the Sponsor to provide the Company with additional working capital during the Extension.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
byNordic Acquisition Corp entered into Working Capital Note with Water by Nordic AB valued at $775,000 (effective 2023-05-12).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Water by Nordic AB
- Value
- $775,000
- Effective
- 2023-05-12
Exact text from the filing
On May 12, 2023, the Company issued a promissory note (the “Working Capital Note”) in the principal amount of $775,000 to the Sponsor to provide the Company with additional working capital during the Extension.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
byNordic Acquisition Corp entered into Extension Note with Water by Nordic AB valued at $1,725,000 (effective 2023-05-09).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Water by Nordic AB
- Value
- $1,725,000
- Effective
- 2023-05-09
Exact text from the filing
On May 9, 2023, byNordic Acquisition Corporation (the “ Company ”) issued a promissory note (the “ Extension Note ”) in the principal amount of $1,725,000 to the Company’s sponsor, Water by Nordic AB (the “ Sponsor ”) in connection with the extension of the date by which the Company has to consummate a business combination from May 11, 2023, to August 11, 2023 (the “ Extension ”).
View on SEC.gov
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