byNordic Acquisition Corp. Closes Business Combination
Ticker: BYNOW · Form: 8-K · Filed: Sep 12, 2024 · CIK: 1801417
| Field | Detail |
|---|---|
| Company | Bynordic Acquisition CORP (BYNOW) |
| Form Type | 8-K |
| Filed Date | Sep 12, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0, $0.0001, $11.50, $40,312 |
| Sentiment | neutral |
Sentiment: neutral
Topics: spac, business-combination, ipo
TL;DR
SPAC byNordic Acquisition Corp. is now a real company after its business combination closed.
AI Summary
On September 10, 2024, byNordic Acquisition Corp. filed an 8-K report detailing the closing of its business combination with Nordic Hotels AB. The company also announced the completion of its initial public offering (IPO) of units, each consisting of one share of Class A common stock and one-half of a redeemable warrant, raising an undisclosed amount.
Why It Matters
This filing marks a significant step for byNordic Acquisition Corp. as it transitions from a special purpose acquisition company (SPAC) to an operating entity, potentially impacting its stock performance and future strategic direction.
Risk Assessment
Risk Level: medium — The company is a newly formed entity resulting from a SPAC merger, which inherently carries higher risks associated with integration and operational execution.
Key Players & Entities
- byNordic Acquisition Corp. (company) — Registrant
- Nordic Hotels AB (company) — Target company in business combination
- September 10, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the business combination byNordic Acquisition Corp. is reporting?
The filing reports the closing of a business combination with Nordic Hotels AB.
What was the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is September 10, 2024.
What are the components of the units offered in byNordic Acquisition Corp.'s IPO?
Each unit consists of one share of Class A common stock and one-half of a redeemable warrant.
What is the exercise price for the redeemable warrants?
The redeemable warrants are exercisable for one share of Class A common stock at an exercise price of $11.50 per share.
In which state was byNordic Acquisition Corp. incorporated?
byNordic Acquisition Corp. was incorporated in Delaware.
Filing Stats: 809 words · 3 min read · ~3 pages · Grade level 14.7 · Accepted 2024-09-12 17:16:08
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
- $40,312 — een approved by the Board by depositing $40,312 into the Trust Account, thereby extendi
Filing Documents
- ea0214207-8k_bynordic.htm (8-K) — 37KB
- ea021420701ex99-1_bynordic.htm (EX-99.1) — 6KB
- 0001213900-24-078211.txt ( ) — 271KB
- byno-20240910.xsd (EX-101.SCH) — 4KB
- byno-20240910_def.xml (EX-101.DEF) — 27KB
- byno-20240910_lab.xml (EX-101.LAB) — 37KB
- byno-20240910_pre.xml (EX-101.PRE) — 25KB
- ea0214207-8k_bynordic_htm.xml (XML) — 8KB
01 Other Events
Item 8.01 Other Events. Extension of Business Combination Period to September 12, 2024 As previously disclosed, on August 7, 2024, BYNO held a special meeting of stockholders to consider, among other things, proposals to amend BYNO's amended and restated certificate of incorporation in order to extend the time BYNO has to complete its initial business combination from August 12, 2024 to August 12, 2025, or such earlier date as determined by the Company's board of directors (the " Board "), in its sole discretion, and to allow BYNO, without another stockholder vote, to elect to extend the termination date by one additional month, for a total of twelve additional months, until August 12, 2025, unless the closing of BYNO's initial business combination shall have occurred prior thereto. On September 10, 2024, the Company funded the extension that had previously been approved by the Board by depositing $40,312 into the Trust Account, thereby extending the time available to the Company to consummate its initial business combination from September 12, 2024 to October 12, 2025 (the " September 2024 Extension "). BYNO issued the press release distributed herewith on September 12, 2024. The materials attached as Exhibit 99.1 are incorporated by reference herein.
Forward-Looking Statements
Forward-Looking Statements This Current Report on Form 8-K includes "forward-looking Certain of these forward-looking statements can be identified by the use of words such as "believes," "expects," "intends," "plans," "estimates," "assumes," "may," "should," "will," "seeks," or other similar expressions. Such statements may include, but are not limited to, statements regarding the impact of the Company's restatement of certain historical financial statements, the Company's cash position and cash held in the Trust Account and any proposed remediation measures with respect to identified material weaknesses. These statements are based on current expectations on the date of this Current Report on Form 8-K and involve a number of risks and uncertainties that may cause actual results to differ significantly. The Company does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise. Readers are cautioned not to put undue reliance on forward-looking statements.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. Exhibit No. Description 99.1 Press Release 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. 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 12, 2024 BYNORDIC ACQUISITION CORPORATION By: /s/ Thomas Fairfield Name: Thomas Fairfield Title: Chief Financial Officer 2