8-K
filed August 11, 2023, 7:59 PM ET
ticker BYNO
CIK 0001801417
other material
confidence high
sentiment negative
materiality 0.80
byNordic Acquisition Corp (BYNO): debt financing — ByNordic Acquisition Corp. extends deadline to Aug 2024; 75% of public shares redeemed for ~$145M
byNordic Acquisition Corp
- Stockholders redeemed 13,663,728 public shares at ~$10.61/share, aggregate ~$144.97M.
- Extension deadline moved from Aug 11, 2023 to Feb 12, 2024, with Board option for six monthly extensions to Aug 12, 2024.
- Sponsor deposited $625,000 into trust as extension loan; also issued $710,000 working capital note ($110,000 funded).
- Redemption Limit Elimination and Extension Amendment proposals approved at August 10, 2023 special meeting.
- If sponsor fails to fund monthly $105,000 contributions, Company will liquidate.
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 $625,000 with Sponsor at do not bear interest maturing mature upon closing of BYNO’s initial business combination.
- Instrument
- loan
- Principal
- $625,000
- Counterparty
- Sponsor
- Rate
- do not bear interest
- Maturity
- mature upon closing of BYNO’s initial business combination
- Event
- incurrence
Exact text from the filing
Extension Meeting ”), Water by Nordic AB, a Swedish limited liability company (the “ Sponsor ”), agreed that if the Redemption Limit Elimination Proposal (as defined below) and the Extension Amendment Proposal (as defined below) were approved,
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
byNordic Acquisition Corp incurred loan of $710,000 with Sponsor at do not bear interest maturing mature upon closing of BYNO’s initial business combination.
- Instrument
- loan
- Principal
- $710,000
- Counterparty
- Sponsor
- Rate
- do not bear interest
- Maturity
- mature upon closing of BYNO’s initial business combination
- Event
- incurrence
Exact text from the filing
Extension Meeting ”), Water by Nordic AB, a Swedish limited liability company (the “ Sponsor ”), agreed that if the Redemption Limit Elimination Proposal (as defined below) and the Extension Amendment Proposal (as defined below) were approved,
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
byNordic Acquisition Corp shareholders approved Extension Amendment Proposal at the 2023-08-10 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-08-10
Exact text from the filing
The voting results for the Extension Amendment Proposal were as follows: The Extension Amendment Proposal For Against Abstain 19,050,884 1,803,792 100,000
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
byNordic Acquisition Corp shareholders approved Redemption Limit Elimination Proposal at the 2023-08-10 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-08-10
Exact text from the filing
The voting results for the Redemption Limit Elimination Proposal were as follows: The Redemption Limit Elimination Proposal For Against Abstain 19,550,744 1,303,932 100,000
View on SEC.gov
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