byNordic Acquisition Corp Extends SPAC Combination Deadline, Issues Note

What Happened

• byNordic Acquisition Corporation (BYNO) filed an 8-K reporting that on September 11, 2026 it issued a promissory note to Thomas L. Fairfield (the Company’s Chief Operating Officer and Chief Financial Officer). The Note provides for up to $150,000 in principal, with an initial advance of $8,850.20. The proceeds are to be used for general working capital, including funds to pay deposits required to extend the company’s period to complete an initial business combination (merger/acquisition).
• Also on September 11, 2026, an officer deposited $8,850.20 into BYNO’s trust account to effect a previously approved extension of the time to consummate its initial business combination from September 12, 2026 to October 12, 2026. A press release dated September 14, 2026 was issued and attached as Exhibit 99.1.

Key Details

• Promissory Note: up to $150,000 principal; initial advance $8,850.20; lender is Thomas L. Fairfield (COO & CFO).
• Terms: interest-free; payable on the earlier of (i) consummation of BYNO’s initial business combination or (ii) the 180th day after dissolution (the lender may extend that date). Failure to pay on the maturity date is an event of default and may accelerate the Note.
• Repayment if no deal: Note will be repaid only to the extent funds are available outside the trust account established in connection with BYNO’s IPO.
• Business combination deadline: extended to October 12, 2026 by deposit of $8,850.20 into the trust account.

Why It Matters

• The company has bought one additional month to complete a merger or acquisition, which can be material for shareholders evaluating the SPAC’s timelines and probability of closing a deal.
• The Note creates a related-party financial obligation (the lender is an executive), increasing the company’s potential liabilities by up to $150,000; repayment is subordinated to the trust-account protections for public investors (repayment if no deal is limited to non-trust funds).
• For retail investors, the extension may reduce immediate pressure to redeem or liquidate, but it does not guarantee a successful business combination; the filing also includes standard forward-looking statement cautions.