UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of
the Securities
Exchange Act of 1934
(Amendment No.
)
Filed by the Registrant ☒
Filed by a party other than the Registrant ☐
Check the appropriate box:
☐ |
Preliminary Proxy Statement |
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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
☐ |
Definitive Proxy Statement |
☒ |
Definitive Additional Materials |
☐ |
Soliciting Material under § 240.14a-12 |
BYNORDIC
ACQUISITION CORPORATION
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if other
than the Registrant)
Payment of Filing Fee (Check all boxes that apply):
☐ |
Fee paid previously with preliminary materials |
☐ |
Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 |
On August 4, 2023, byNordic Acquisition Corporation issued the following
press release:
BYNORDIC
ACQUISITION CORPORATION ANNOUNCES ADJOURNMENT OF SPECIAL MEETING OF STOCKHOLDERS
New York/Malmö, August 4, 2023 (GLOBE NEWSWIRE)
-- byNordic Acquisition Corporation (NASDAQ: BYNO) (the “Company”) today announced that it intends to adjourn, without conducting
any business, the previously announced special meeting of stockholders of the Company (the “Special Meeting”), originally
scheduled to be held at 10:00 a.m. Eastern Time on August 8, 2023, and to reconvene the Special Meeting at 10:00 a.m. Eastern Time on
August 10, 2023. In connection with the adjournment of the Special Meeting, the Company is extending the deadline for holders of its publicly
held shares of Class A common stock, par value $0.0001 per share (the “public shares”), to exercise their right to redeem
their public shares for their pro rata portion of the funds available in the Company’s trust account, or to withdraw any previously
delivered demand for redemption, to 5:00 p.m., Eastern time, on August 8, 2023 (two business days before the adjourned Special Meeting).
The Special Meeting is being held for the purpose
of considering and voting on, among other proposals, a proposal to extend (the “Extension”) the date (the “Original
Termination Date”) by which the Company must consummate an initial business combination from August 11, 2023 to February 12, 2024
(the “Initial Extended Date”) or such earlier date as determined by the Company’s board of directors (the “Board”),
in its sole discretion, and to allow the Company by resolution of the Board without another stockholder vote, to elect to extend the Initial
Extended Date by one additional month, for a total of six additional months, until August 12, 2024 (each such monthly extension,
the “Additional Extension Month” and the final termination date the “Final Termination Date”), unless the closing
of a business combination shall have occurred prior thereto.
Additional Sponsor Contributions to Trust Account
If the Extension is approved at the Special
Meeting and implemented, the Company’s sponsor, Water by Nordic AB, a Swedish limited liability company (the
“Sponsor”), or its designees will deposit into the trust account the lesser of (i) $625,000 and (ii) $0.24 for each
share of the Company’s public shares not redeemed in connection with the Extension (a “Contribution”, and the
Sponsor or its designee making such Contribution, a “Contributor”), which represents an increase of (x) $25,000 and (y)
$0.06 for each share of the Company’s public shares not redeemed in connection with the Extension over the previously
announced amounts of $600,000 and $0.18, respectively.
If the Initial Extended Date is extended, at the sole discretion of the Board, beyond February
12, 2024, the Contributor will deposit into the trust account the lesser of (i) $105,000 and (ii) $0.04 for each outstanding public share
for each Additional Extension Month, which represents an increase of (x) $5,000 and (y) $0.01 for each outstanding public share for each
Additional Extension Month over the previously announced amounts of $100,000 and $0.01, respectively. The initial Contribution will occur
on the Original Termination Date. The Contribution for the initial Additional Extension Month will occur on the Initial Extended Date
and the Contribution for each Additional Extension Month thereafter will occur on the 11th day of each subsequent calendar month until
(but excluding) the Final Termination Date (each such date, a “Contribution Date”).
The Company has not asked the Sponsor to reserve
for, nor has the Company independently verified whether the Sponsor will have sufficient funds to satisfy, any such Contributions.
If a Contributor fails to make a Contribution
by the applicable Contribution Date, the Company will liquidate and dissolve as soon as practicable after such date and in accordance
with the Company’s charter. The Contributions will constitute loans to the Company evidenced by one or more non-interest bearing,
unsecured promissory notes issued by the Company to the Contributor and will be repayable by the Company upon consummation of an initial
business combination. If the Company does not consummate an initial business combination by the Final Termination Date, any such promissory
notes will be repaid only from funds held outside of the trust account or will be forfeited, eliminated or otherwise forgiven. Any Contribution
is conditioned on the approval of the requisite proposals at the Special Meeting and the implementation of the Extension, and with respect
to any Additional Extension Month, on the approval of such extension by the Board. No Contribution will occur if such proposals are not
approved or the Extension is not implemented. If the Company has consummated an initial business combination or announced its intention
to wind up prior to any Contribution Date, any obligation to make Contributions will terminate.
Trust Funds Will Not Be Withdrawn to Pay Excise
Taxes
On August 16, 2022, the Inflation Reduction Act
of 2022 (the “IR Act”) was signed into federal law. The IR Act provides for, among other things, a new U.S. federal 1% excise
tax on certain repurchases (including redemptions) of stock by publicly traded U.S. domestic corporations and certain U.S. domestic subsidiaries
of publicly traded foreign corporations occurring on or after January 1, 2023. Any redemptions of public shares on or after January 1,
2023, including in connection with the Extension, may be subject to such excise tax. The Company confirms that if the Extension is implemented,
it will not withdraw any funds from the trust account, including interest earned on the funds held in the trust account, to pay for the
1% excise tax that may become due under the IR Act.
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.
Additional Information and Where to Find It
Further information related to attendance, voting
and the proposals to be considered and voted on at the Special Meeting is described in the Definitive Proxy Statement, which has been
mailed to the Company’s stockholders of record as of the record date for the Special Meeting. Investors and security holders of
the Company are advised to read the Definitive Proxy Statement because it contains important information about the Special Meeting and
the Company. Investors and security holders of the Company may also obtain a copy of the Definitive Proxy Statement, as well as other
relevant documents that have been or will be filed by the Company with the SEC, without charge and once available, at the SEC’s
website at www.sec.gov or by directing a request to: byNordic Acquisition Corporation, c/o Pir 29, Einar Hansens Esplanad 29, 211 13 Malmö,
Sweden.
Participants in the Solicitation
The Company, the Sponsor and their respective
directors and officers may be deemed to be participants in the solicitation of proxies from the Company’s stockholders in respect
of the proposals to be considered and voted on at the Special Meeting. Information concerning the interests of the directors and executive
officers of the Company is set forth in the Definitive Proxy Statement, which may be obtained free of charge from the sources indicated
above.
byNordic Acquisition Corporation Contact:
Michael Hermansson
+46 707 294100
ir@bynordic.se
4
Grafico Azioni byNordic Acquisition (NASDAQ:BYNOU)
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