byNordic Acquisition Corp (BYNO) Form 10-Q — May 15, 2026
byNordic Acquisition Corporation reported a net loss of $505,855 for the quarter ended March 31, 2026, driven by operating costs of $545,449 and income taxes, partially offset by interest income from its trust account. The company holds only $86,274 in cash outside the trust account, facing a working capital deficit of $8.76 million that is being funded by $7.69 million in related-party promissory notes. Management disclosed a material weakness in internal controls over financial reporting related to the accounting for deferred contingent transaction costs.
Key figures
- Total Debt
- 7685000
- Cash Position
- 86274
- Trust Account Balance
- 5634054
- Warrants Outstanding
- 8625000
- Class AShares Outstanding
- 3376743
- Class BShares Outstanding
- 3750000
- Extension Deposit Per Month
- 17470
- Business Combination Deadline
- 2026-06-12
Price after filing
Close on the filing date to close N calendar days later (from $12.65). Historical, not a forecast.
AI analysis
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