byNordic Acquisition Corporation Announces Extension of Deadline to Complete Business Combination
byNordic Acquisition (NASDAQ: BYNO) has announced a one-month extension to complete its business combination, extending the deadline from February 12, 2025, to March 12, 2025. The company has deposited $40,312 into its trust account to facilitate this extension. This marks the seventh of up to twelve one-month extensions permitted under the company's amended certificate of incorporation from August 8, 2024. The board of directors has the authority to extend the termination date monthly until August 12, 2025, without requiring additional stockholder votes.
byNordic Acquisition (NASDAQ: BYNO) ha annunciato un'estensione di un mese per completare la sua combinazione aziendale, spostando la scadenza dal 12 febbraio 2025 al 12 marzo 2025. L'azienda ha depositato $40,312 nel suo conto fiduciario per facilitare questa estensione. Questo segna la settima delle fino a dodici estensioni mensili consentite ai sensi del certificato di incorporazione modificato dell'azienda dell'8 agosto 2024. Il consiglio di amministrazione ha l'autorità di estendere la data di termine mensilmente fino al 12 agosto 2025, senza richiedere ulteriori voti degli azionisti.
byNordic Acquisition (NASDAQ: BYNO) ha anunciado una extensión de un mes para completar su combinación empresarial, moviendo la fecha límite del 12 de febrero de 2025 al 12 de marzo de 2025. La compañía ha depositado $40,312 en su cuenta fiduciaria para facilitar esta extensión. Esto marca la séptima de hasta doce extensiones mensuales permitidas bajo el certificado de incorporación enmendado de la compañía del 8 de agosto de 2024. La junta directiva tiene la autoridad para extender la fecha de terminación mensualmente hasta el 12 de agosto de 2025, sin requerir votaciones adicionales de los accionistas.
byNordic Acquisition (NASDAQ: BYNO)는 비즈니스 조합을 완료하기 위해 한 달 연장을 발표했으며, 마감일을 2025년 2월 12일에서 2025년 3월 12일로 연장했습니다. 회사는 이 연장을 용이하게 하기 위해 신탁 계좌에 $40,312를 입금했습니다. 이는 2024년 8월 8일 회사의 수정된 설립 증명서에 따라 허용된 최대 12회의 한 달 연장 중 일곱 번째를 의미합니다. 이사회는 추가 주주 투표 없이 2025년 8월 12일까지 매달 종료 날짜를 연장할 수 있는 권한을 가지고 있습니다.
byNordic Acquisition (NASDAQ: BYNO) a annoncé une extension d'un mois pour finaliser sa combinaison d'entreprises, déplaçant la date limite du 12 février 2025 au 12 mars 2025. La société a déposé $40,312 sur son compte fiduciaire pour faciliter cette extension. Cela marque la septième des jusqu'à douze extensions mensuelles autorisées par le certificat de constitution modifié de la société du 8 août 2024. Le conseil d'administration a le pouvoir d'étendre la date d'expiration chaque mois jusqu'au 12 août 2025, sans nécessiter de votes supplémentaires des actionnaires.
byNordic Acquisition (NASDAQ: BYNO) hat eine einmonatige Verlängerung zur Fertigstellung seiner Unternehmenszusammenlegung angekündigt, wobei die Frist vom 12. Februar 2025 auf den 12. März 2025 verschoben wird. Das Unternehmen hat $40,312 auf sein Treuhandkonto eingezahlt, um diese Verlängerung zu ermöglichen. Dies ist die siebte von bis zu zwölf einmonatigen Verlängerungen, die gemäß der geänderten Satzung des Unternehmens vom 8. August 2024 zulässig sind. Der Vorstand hat die Befugnis, das Ablaufdatum monatlich bis zum 12. August 2025 zu verlängern, ohne dass zusätzliche Aktionärsabstimmungen erforderlich sind.
- Flexibility to extend deadline up to five more times until August 2025
- Board maintains control over extension decisions without requiring shareholder approval
- Additional funds ($40,312) required to be deposited into trust account
- Seventh extension indicates potential challenges in completing business combination
- Continued delays in completing initial business combination
Insights
The mechanics of these extensions are important for investors to understand. Each monthly extension requires a deposit to the trust account, which marginally increases the per-share redemption value. However, these small incremental additions ($0.025 to $0.045 per share typically) rarely offset the opportunity cost of extended holding periods.
Historical SPAC data shows that multiple extensions often correlate with increased likelihood of either:
- A rushed deal near the final deadline, which may not optimize shareholder value
- Ultimate liquidation if no suitable target is found
- Increased redemption rates when a deal is finally announced
The company's ability to extend until August 2025 provides operational flexibility, but also raises questions about deal certainty. While extensions are common in the SPAC market, the cumulative number here warrants careful attention from shareholders, who maintain their redemption rights throughout this period. The relatively modest extension payment suggests minimal sponsor conviction, as some SPACs opt for larger contributions to demonstrate commitment to deal completion.
New York, NY, Feb. 14, 2025 (GLOBE NEWSWIRE) -- byNordic Acquisition Corporation (NASDAQ: BYNO) (“BYNO” or the “Company”), a special purpose acquisition company, announced today that the Company has timely deposited into the Company’s trust account (the “Trust Account”), an aggregate of
About byNordic Acquisition Corporation
byNordic Acquisition Corporation, led by Chief Executive Officer Michael Hermansson, is a special purpose acquisition company formed with the purpose of entering into a business combination with one or more businesses. While the Company may pursue an initial business combination with a company in any sector or geography, it intends to focus its search on high technology growth companies based in the northern part of Europe.
Forward Looking Statements
This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the Securities and Exchange Commission. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
byNordic Acquisition Corporation Contact:
Michael Hermansson
+46 707 294100
ir@bynordic.se
FAQ
How long is BYNO's latest extension period for completing its business combination?
How much did BYNO deposit for the February 2025 extension?
How many extensions has BYNO used as of February 2025?
What is the final deadline for BYNO to complete its business combination?
Does BYNO need shareholder approval for monthly extensions?
