byNordic Acquisition Corp 8-K

What Happened
byNordic Acquisition Corp (BYNO) filed an 8-K on May 4, 2026 disclosing that on April 29, 2026 it issued a $250,000 promissory note to Achilles Capital AB, an affiliate of its sponsor Water by Nordic AB. The proceeds are for general working capital. The Note bears no interest and is payable in full on the closing of the Company’s initial business combination (the Maturity Date). The Note is attached as Exhibit 10.1 to the filing.

Key Details

• Principal: $250,000 issued to Achilles Capital AB (sponsor affiliate) on April 29, 2026.
• Interest & maturity: No interest; payable in full upon consummation of BYNO’s initial business combination.
• Default/repayment: Failure to pay at maturity is an event of default allowing acceleration. If BYNO does not complete an initial business combination, repayment is limited to funds available outside the SPAC trust account.
• Regulatory note: The filing also records this as the creation of a direct financial obligation.

Why It Matters
This loan provides BYNO with additional working capital ahead of an acquisition or merger, without using trust-account funds. For investors, the key points are that the obligation is non‑interest bearing and is repayable at closing of an initial business combination, but if no combination occurs repayment is limited to non‑trust funds—so the trust account that protects public investors’ funds is not pledged to this loan. The note increases the company’s liabilities reported to investors until repaid or satisfied at the time of a business combination.