byNordic Acquisition Corp Faces Delisting Concerns
Ticker: BYNOW · Form: 8-K · Filed: Sep 5, 2024 · CIK: 1801417
| Field | Detail |
|---|---|
| Company | Bynordic Acquisition CORP (BYNOW) |
| Form Type | 8-K |
| Filed Date | Sep 5, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0, $0.0001, $11.50 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, 8-k
Related Tickers: BYNO
TL;DR
BYNO might get delisted, check exchange compliance status.
AI Summary
On September 5, 2024, byNordic Acquisition Corporation filed an 8-K report indicating a potential delisting or failure to meet continued listing standards. The company, incorporated in Delaware, is based in Malmo, Sweden, and its stock is traded under the ticker BYNO.
Why It Matters
This filing signals potential financial distress or non-compliance with exchange rules, which could lead to the company's stock being removed from trading.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards is a significant red flag for investors, indicating potential severe financial or operational issues.
Key Players & Entities
- byNordic Acquisition Corporation (company) — Registrant
- September 5, 2024 (date) — Filing Date
- Malmo, Sweden (location) — Company Address
- BYNO (company) — Ticker Symbol
FAQ
What specific listing rule or standard has byNordic Acquisition Corporation failed to meet?
The filing does not specify the exact rule or standard that has not been met, only that the company is providing notice of a potential delisting or failure to satisfy a continued listing rule or standard.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is September 5, 2024.
In which jurisdiction was byNordic Acquisition Corporation incorporated?
byNordic Acquisition Corporation was incorporated in Delaware.
What is the business address of byNordic Acquisition Corporation?
The business address is Einar Hansens Esplanad 29, Malmo, V7, 21175.
What is the ticker symbol for byNordic Acquisition Corporation?
The ticker symbol is BYNO.
Filing Stats: 650 words · 3 min read · ~2 pages · Grade level 15.3 · Accepted 2024-09-05 17:15:09
Key Financial Figures
- $0 — hare of Class A common stock, par value $0.0001, and one-half of one redeemable wa
- $0.0001 — t LLC Class A common stock, par value $0.0001 per share BYNO The Nasdaq Stock Mar
- $11.50 — A common stock at an exercise price of $11.50 per share BYNOW The Nasdaq Stock Ma
Filing Documents
- ea0213679-8k_bynordic.htm (8-K) — 32KB
- 0001213900-24-076172.txt ( ) — 256KB
- byno-20240905.xsd (EX-101.SCH) — 4KB
- byno-20240905_def.xml (EX-101.DEF) — 27KB
- byno-20240905_lab.xml (EX-101.LAB) — 37KB
- byno-20240905_pre.xml (EX-101.PRE) — 25KB
- ea0213679-8k_bynordic_htm.xml (XML) — 8KB
01 Notice of Delisting or Failure to Satisfy
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As previously disclosed, on April 10, 2024, The Nasdaq Stock Market LLC ("Nasdaq") notified byNordic Acquisition Corporation (the "Company") that it did not comply with the minimum 400 total shareholders requirement for continued inclusion set forth in Nasdaq's Listing Rule 5450(a)(2) (the "Rule"). The Company submitted a plan of compliance on May 24, 2024 demonstrating how it would cure the deficiency in compliance. On August 1, 2024, Nasdaq notified the Company that it had determined that it would be unable to grant the Company's request for continued listing on Nasdaq. As a result, unless the Company requests an appeal of the determination by August 8, 2024, trading of the Company's securities would be suspended at the opening of business on August 12, 2024, and a Form 25-NSE would be filed with the Securities and Exchange Commission, which would remove the Company's securities from listing and registration on Nasdaq. Subsequently, the Company requested an appeal of the determination and a hearing was scheduled for September 12, 2024. On September 5, 2024, Nasdaq notified the Company that it had regained compliance with the minimum 400 total shareholders requirement under the Rule. As a result, the hearing scheduled for September 12, 2024 has been cancelled. The Company is in compliance with the Nasdaq Rule and its securities will continue to be listed and traded on The Nasdaq Stock Market. 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: September 5, 2024 BYNORDIC ACQUISITION CORPORATION By: /s/ Thomas Fairfield Name: Thomas Fairfield Title: Chief Financial Officer 2