---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-032545"
form_type: "8-K"
ticker: "BYNO"
cik: "0001801417"
company_name: "byNordic Acquisition Corp"
filed_at: "2024-04-12T23:59:59+00:00"
generated_at: "2026-06-03T23:29:41.488817+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# byNordic gets Nasdaq delisting notice for low holders; extends business combination to May 12, 2024

## Summary
- Nasdaq notified BYNO on Apr 10, 2024 it fails to meet 400 total holder minimum; 45 days to submit compliance plan.
- Issued $300K promissory note to DDM Debt AB (sponsor affiliate) for working capital; interest-free, due at business combination.
- Deposited $105K into trust account to extend deadline from Apr 12 to May 12, 2024; third of up to six monthly extensions allowed.

## SEC filing metadata
- accession: 0001213900-24-032545
- form_type: 8-K
- ticker: BYNO
- cik: 0001801417
- company_name: byNordic Acquisition Corp
- filed_at: 2024-04-12T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1801417/000121390024032545/0001213900-24-032545-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1801417/000121390024032545/ea0203691-8k_bynordic.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-032545
- JSON: https://secwatch.observer/filing/0001213900-24-032545.json
- Plain text: https://secwatch.observer/filing/0001213900-24-032545.txt

## Key facts
- Debt Financings
  byNordic Acquisition Corp incurred loan of $300,000 with DDM Debt AB at no interest maturing upon the consummation of the Company's initial business combination.
  - Instrument: loan
  - Principal: $300,000
  - Counterparty: DDM Debt AB
  - Rate: no interest
  - Maturity: upon the consummation of the Company's initial business combination
  - Event: incurrence
  source text: On April 10, 2024, byNordic Acquisition Corporation (" BYNO ", the " Company ") issued a promissory note (the “Note”) in the principal amount of $300,000 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/1801417/000121390024032545/0001213900-24-032545-index.htm
- Listing & Compliance Notices
  byNordic Acquisition Corp received a nasdaq deficiency notice notice regarding shareholders (rules 5450(a)(2)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: shareholders
  - Rules: 5450(a)(2)
  source text: April 10, 2023, the Company received a letter (the “ Letter ”) from the staff at The Nasdaq Stock Market LLC (“ Nasdaq ”) notifying the Company that the Company no longer complies with the requirements of Nasdaq Listing Rule 5450(a)(2) (the “ Rule ”) for continued listing on Nasdaq. Under the Rule, the Company is required to maintain at least 400 total holders (the “ Total Holder Requirement ”). The Notice indicates that the Company has 45 calendar days (the “ Deadline ”) to submit a plan (the “ Compliance Plan ”) to regain compliance with the Rule. If Nasdaq accepts the Compliance Plan, Nasda
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801417/000121390024032545/0001213900-24-032545-index.htm
- Material Agreements
  byNordic Acquisition Corp entered into Promissory Note with DDM Debt AB valued at $300,000 principal amount (effective 2024-04-10).
  - Action: entry
  - Counterparty: DDM Debt AB
  - Value: $300,000 principal amount
  - Effective: 2024-04-10
  source text: On April 10, 2024, byNordic Acquisition Corporation (“ BYNO ”, the “ Company ”) issued a promissory note (the “Note”) in the principal amount of $300,000 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/1801417/000121390024032545/0001213900-24-032545-index.htm

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