byNordic Acquisition Corp SEC 10-Q Report

byNordic Acquisition Corp, a special purpose acquisition company (SPAC) focused on identifying and merging with a suitable business, has released its Form 10-Q report for the second quarter of 2025. The report provides a detailed overview of the company's financial performance and operational activities for the three and six months ended June 30, 2025.

Financial Highlights

• Total loss from operations: $(242,931) for the three months ended June 30, 2025, reflecting a decrease in operating costs compared to the same period in 2024.
• Net (loss) income: $(135,963) for the three months ended June 30, 2025, compared to $79,448 for the same period in 2024, indicating a shift from profit to loss.
• Net (loss) income per redeemable Class A common stock - basic and diluted: $(0.02) for the three months ended June 30, 2025, compared to $0.01 for the same period in 2024.
• Net (loss) income per non-redeemable Class A and Class B common stock - basic and diluted: $(0.02) for the three months ended June 30, 2025, compared to $0.01 for the same period in 2024.
• Interest earned on marketable securities held in Trust Account: $128,284 for the three months ended June 30, 2025, showing a significant decrease from $532,914 in the same period in 2024.

Business Highlights

• Operating Costs: The company reported operating costs of $242,931 for the three months ended June 30, 2025, and $525,991 for the six months ended June 30, 2025. These costs are closely monitored by the management to ensure sufficient capital is available for completing a Business Combination within the designated period.
• Interest Earned on Trust Account: Interest earned on marketable securities held in the Trust Account was $128,284 for the three months ended June 30, 2025, and $254,255 for the six months ended June 30, 2025. This interest income is a key measure of segment profit or loss and is used to assess stockholder value.
• Business Combination Extensions: The company has extended the time available to complete its initial Business Combination to September 12, 2025, with the possibility of further monthly extensions until August 12, 2026, subject to certain conditions. This extension strategy is crucial for the company to identify and finalize a suitable Business Combination.
• Geopolitical Risks: The company acknowledges the impact of geopolitical events, such as the Russian invasion of Ukraine and the Israel-Hamas war, on financial and business conditions in Europe. These events could affect the business and prospects of potential targets for the company's initial Business Combination.
• Nasdaq Delisting: The company's securities were delisted from Nasdaq on February 18, 2025, due to the failure to complete a Business Combination within the required timeframe. The securities are now traded on the over-the-counter market, which may impact the company's visibility and investor interest.
• Future Outlook: The company is focused on completing a Business Combination by the extended deadline. Management is actively seeking opportunities and is prepared to utilize the available extensions to ensure a successful transaction.

SEC Filing: byNordic Acquisition Corp [ BYNO ] - 10-Q - Aug. 19, 2025