---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-096072"
form_type: "8-K"
ticker: "BYNO"
cik: "0001801417"
company_name: "byNordic Acquisition Corp"
filed_at: "2023-12-15T23:59:59+00:00"
generated_at: "2026-06-07T12:03:15.490515+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# byNordic issues $1.7M promissory note from sponsor affiliate; receives Nasdaq MVLS deficiency notice

## Summary
- Issued $1.7M promissory note to DDM Debt AB (affiliate of sponsor), no interest, due upon business combination.
- Nasdaq notified company that common stock MVLS below $50M for 30 consecutive days; compliance deadline June 10, 2024.
- If compliance not regained by June 10, 2024, Nasdaq may delist or company may transfer to Nasdaq Capital Market.
- Note proceeds for general working capital; repayment from trust only if business combination not consummated.
- Note includes trust account waiver; maker and payee to treat note as equity for tax purposes.

## SEC filing metadata
- accession: 0001213900-23-096072
- form_type: 8-K
- ticker: BYNO
- cik: 0001801417
- company_name: byNordic Acquisition Corp
- filed_at: 2023-12-15T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 3.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1801417/000121390023096072/0001213900-23-096072-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1801417/000121390023096072/ea190150-8k_bynordic.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-096072
- JSON: https://secwatch.observer/filing/0001213900-23-096072.json
- Plain text: https://secwatch.observer/filing/0001213900-23-096072.txt

## Key facts
- Debt Financings
  byNordic Acquisition Corp incurred loan of $1,700,000 with DDM Debt AB at no interest maturing upon the consummation of the Company's initial business combination.
  - Instrument: loan
  - Principal: $1,700,000
  - Counterparty: DDM Debt AB
  - Rate: no interest
  - Maturity: upon the consummation of the Company's initial business combination
  - Event: incurrence
  source text: On December 15, 2023, byNordic Acquisition Corporation (the " Company ") issued a promissory note (the " Note ") in the principal amount of $1,700,000 to DDM Debt AB (the " Lender ")
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801417/000121390023096072/0001213900-23-096072-index.htm
- Listing & Compliance Notices
  byNordic Acquisition Corp received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(A), 5810(c)(3)(C)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: market value
  - Rules: 5450(b)(2)(A), 5810(c)(3)(C)
  source text: December 11, 2023, the Company received a letter (the “Letter”) from the staff at The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the 30 consecutive trading days prior to the date of the Letter, the Company’s common stock had traded at a value below the minimum $50,000,000 “Market Value of Listed Securities” (“MVLS”) requirement set forth in Nasdaq Listing Rule 5450(b)(2)(A), which is required for continued listing of the Company’s common stock on The Nasdaq Global Market. The Letter is only a notification of deficiency, not of imminent delisting, and has no current effe
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801417/000121390023096072/0001213900-23-096072-index.htm
- Material Agreements
  byNordic Acquisition Corp entered into Note with DDM Debt AB valued at principal amount of $1,700,000 (effective 2023-12-15).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: DDM Debt AB
  - Value: principal amount of $1,700,000
  - Effective: 2023-12-15
  source text: On December 15, 2023, byNordic Acquisition Corporation (the “ Company ”) issued a promissory note (the “ Note ”) in the principal amount of $1,700,000 to DDM Debt AB (the “ Lender ”), an affiliate of Water by Nordic AB, the Company’s sponsor.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801417/000121390023096072/0001213900-23-096072-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.