byNordic Acquisition Corp Q2 2024 10-Q Filing

TL;DR

byNordic Acquisition Corp filed its Q2 2024 10-Q. Check financials.

AI Summary

byNordic Acquisition Corp filed its quarterly report for the period ending June 30, 2024. The company, incorporated in Delaware, is a blank check company with its principal executive offices located in Malmo, Sweden. The filing details its financial performance and operational status for the quarter.

Why It Matters

This filing provides investors with an update on the financial health and operational activities of byNordic Acquisition Corp during the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly filing for a SPAC, providing routine financial updates without immediate significant news.

Key Players & Entities

• byNordic Acquisition Corp (company) — Registrant
• June 30, 2024 (date) — End of reporting period
• Delaware (jurisdiction) — State of incorporation
• Malmo, Sweden (location) — Principal executive offices
• 001-41273 (identifier) — SEC file number

FAQ

Key Financial Figures

• $0.0001 — g of one share of Class A common stock, $0.0001 par value, and one half of one redeemab
• $11.50 B — A common stock at an exercise price of $11.50 BYNOW The Nasdaq Stock Market LLC Check

Filing Documents

• ea0211087-10q_bynordic.htm (10-Q) — 542KB
• ea021108701ex31-1_bynordic.htm (EX-31.1) — 12KB
• ea021108701ex31-2_bynordic.htm (EX-31.2) — 12KB
• ea021108701ex32-1_bynordic.htm (EX-32.1) — 4KB
• ea021108701ex32-2_bynordic.htm (EX-32.2) — 4KB
• 0001213900-24-070720.txt ( ) — 4004KB
• byno-20240630.xsd (EX-101.SCH) — 40KB
• byno-20240630_cal.xml (EX-101.CAL) — 21KB
• byno-20240630_def.xml (EX-101.DEF) — 218KB
• byno-20240630_lab.xml (EX-101.LAB) — 340KB
• byno-20240630_pre.xml (EX-101.PRE) — 214KB
• ea0211087-10q_bynordic_htm.xml (XML) — 383KB

Financial Information

Part I. Financial Information 1

Interim Financial Statements

Item 1. Interim Financial Statements 1 Condensed Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 1 Condensed Statements of Operations for the three and six months ended June 30, 2024 and 2023 (Unaudited) 2 Condensed Statements of Changes in Stockholders' Deficit for the three and six months ended June 30, 2024 and 2023 (Unaudited) 3 Condensed Statements of Cash Flows for the six months ended June 30, 2024 and 2023 (Unaudited) 4 Notes to Condensed Financial Statements (Unaudited) 5

Management's Discussion and Analysis

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures Regarding

Item 3. Quantitative and Qualitative Disclosures Regarding Market Risk 27

Controls and Procedures

Item 4. Controls and Procedures 27

Other Information

Part II. Other Information 28

Legal Proceedings

Item 1. Legal Proceedings 28

Risk Factors

Item 1A. Risk Factors 28

Unregistered Sales of Equity Securities and

Item 2. Unregistered Sales of Equity Securities and

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 28

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 28

Other Information

Item 5. Other Information 28

Exhibits

Item 6. Exhibits 28

Signatures

Part III. Signatures 29 i

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Interim Financial Statements

Item 1. Interim Financial Statements. BYNORDIC ACQUISITION CORPORATION CONDENSED BALANCE SHEETS June 30, December 31, 2024 2023 (Unaudited) Assets Current assets: Cash $ 1,901,694 $ 2,306,735 Prepaid expenses and other current assets 42,391 34,818 Total current assets 1,944,085 2,341,553 Marketable securities held in Trust Account 40,754,881 39,516,637 Total assets $ 42,698,966 $ 41,858,190 Liabilities, Commitments and Contingencies and Stockholders' Deficit Current liabilities: Accrued expenses and other current liabilities $ 142,997 $ 72,319 Excise tax payable 1,455,846 1,455,846 Franchise tax payable 92,200 21,650 Income taxes payable 37,452 25,139 Deferred tax liability — 36,946 Promissory note – related party 5,435,000 4,935,000 Due to related party 167,500 117,500 Total current liabilities 7,330,995 6,664,400 Deferred legal fee 175,000 175,000 Deferred underwriters' discount 6,037,500 6,037,500 Total liabilities 13,543,495 12,876,900 Commitments and Contingencies (Note 6) Class A common stock subject to possible redemption, 3,586,272 shares at redemption value of $ 11.35 and $ 10.99 per share as of June 30, 2024 and December 31, 2023, respectively 40,696,520 39,424,354 Stockholders' Deficit Preferred stock, $ 0.0001 par value; 1,000,000 shares authorized; none issued and outstanding — — Class A common stock, $ 0.0001 par value; 100,000,000 shares authorized; 940,000 issued and outstanding as of June 30, 2024 and December 31, 2023 (excluding 3,586,272 shares subject to possible redemption) 94 94 Class B common stock, $ 0.0001 par value; 10,000,000 shares authorized; 5,750,000 issued and outstanding as of June 30, 2024 and December 31, 2023 575 575 Additional paid-in capital — — Accumulated deficit ( 11,541,718 ) ( 10,443,733 ) Total stockholders' deficit ( 11,541,049 ) ( 10,443,064 ) Total Liabilities, Commitments and Contingencies and Stockholder

View Full Filing

View this 10-Q filing on SEC EDGAR