Aankondiging • Aug 15
byNordic Acquisition Corporation announced delayed 10-Q filing On 08/14/2025, byNordic Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Aankondiging • Jul 08
byNordic Acquisition Corporation, Annual General Meeting, Aug 06, 2025 byNordic Acquisition Corporation, Annual General Meeting, Aug 06, 2025. Aankondiging • Jun 12
Nasdaq to Delist Class A Common Stock & Units of byNordic Acquisition The Nasdaq Stock Market announced that it will delist the Class A Common Stock, Warrants, and Units of byNordic Acquisition Corporation. byNordic Acquisition’s securities were suspended on February 18, 2025 and have not traded on Nasdaq since that time. Aankondiging • Feb 18
byNordic Acquisition Corporation(OTCPK:BYNO) dropped from NASDAQ Composite Index byNordic Acquisition Corporation has been dropped from the NASDAQ Composite Index . Aankondiging • Feb 16
Nasdaq Determines to Delist Securities of byNordic Acquisition On February 11, 2025, byNordic Acquisition Corporation, a Delaware corporation (the Company", BYNO"), received a letter from the Listing Qualifications Department of The Nasdaq Stock Market (Nasdaq") stating that the staff of Nasdaq (Staff") has determined that: the Company's securities will be delisted from Nasdaq, trading of the Company's Class A common stock, warrants, and units will be suspended at the opening of business on February 18, 2025, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company's securities from listing and registration on Nasdaq pursuant to Nasdaq Listing Rule IM-5101-2 (Rule IM-5101-2"). Under Rule IM-5101-2, a special purpose acquisition company must complete one or more business combinations within 36 months of the effectiveness of its initial public offering (IPO") registration statement. Since the Company failed to complete its initial business combination by February 8, 2025, the Company did not comply with Rule IM-5101-2, and its securities are now subject to delisting. The Company may appeal the Staff's determination to a Hearings Panel (the Panel"), pursuant to the procedures set in the Nasdaq Listing Rule 5800 Series. However, the Staff noted that pursuant to Nasdaq Listing Rule 5815(c)(1)(H), in the case of a Company whose business plan is to complete one or more acquisitions, as described in Rule IM-5101-2, where the Staff's delisting determination letter issued is based on a failure to satisfy the requirement set in Rule IM-5101-2(b) to complete one or more business combinations within 36 months of the effectiveness of its IPO registration statement, the Panel may only reverse a delisting decision where the Panel determines that the Staff delisting determination letter was in error and that the Company never failed to satisfy the requirement. The Company will not appeal Nasdaq's determination to delist the Company securities and accordingly, the Company's securities will be suspended from trading on Nasdaq at the opening of business on February 18, 2025. However, the Company expects its securities will commence trading on the over-the-counter market on February 18, 2025. Aankondiging • Sep 06
byNordic Acquisition Regains Compliance with the Minimum 400 Total Shareholders Requirement Under the Nasdaq’s Listing Rule 5450(a)(2) As previously disclosed, on April 10, 2024, The Nasdaq Stock Market LLC (‘Nasdaq’) notified byNordic Acquisition Corporation (the ‘Company’) that it did not comply with the minimum 400 total shareholders requirement for continued inclusion set forth in Nasdaq’s Listing Rule 5450(a)(2) (the ‘Rule’). The Company submitted a plan of compliance on May 24, 2024 demonstrating how it would cure the deficiency in compliance. On August 1, 2024, Nasdaq notified the Company that it had determined that it would be unable to grant the Company’s request for continued listing on Nasdaq. As a result, unless the Company requests an appeal of the determination by August 8, 2024, trading of the Company’s securities would be suspended at the opening of business on August 12, 2024, and a Form 25-NSE would be filed with the Securities and Exchange Commission, which would remove the Company’s securities from listing and registration on Nasdaq. Subsequently, the Company requested an appeal of the determination and a hearing was scheduled for September 12, 2024. On September 5, 2024, Nasdaq notified the Company that it had regained compliance with the minimum 400 total shareholders requirement under the Rule. As a result, the hearing scheduled for September 12, 2024 has been cancelled. The Company is in compliance with the Nasdaq Rule and its securities will continue to be listed and traded on The Nasdaq Stock Market. Aankondiging • Aug 15
byNordic Acquisition Corporation announced delayed 10-Q filing On 08/14/2024, byNordic Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Aankondiging • Aug 08
Sivers Photonics Ltd. has entered into a non-binding letter of intent to acquire byNordic Acquisition Corporation (NasdaqGM:BYNO) in a reverse merger transaction. Sivers Photonics Ltd. has entered into a non-binding letter of intent to acquire byNordic Acquisition Corporation (NasdaqGM:BYNO) in a reverse merger transaction on August 6, 2024. Post completion of the acquisition, the proposed transaction would create a standalone, publicly traded photonics company that will be funded by significant cash reserves upon completion of the de-SPAC process. Subsequent to the proposed Sivers Photonics merger combination, Sivers remaining wireless business will consist of a portfolio of leading products in mmWave beamformer front-end integrated circuits, RF transceivers, repeaters, and software algorithms for optimum mmWave RF performance for satellite and 5G Infrastructure.
Under the terms of the non-binding LOI, byNordic and Sivers intend to enter into a definitive agreement for the acquisition of Sivers Photonics. The completion of the business combination is subject to the completion of due diligence, the negotiation and execution of definitive documentation and satisfaction of the conditions contained therein, including (i) securing certain concurrent financing, (ii) completion of any required stock exchange and regulatory reviews and (ii) approval of the transaction by byNordic's and Sivers Photonics' Boards of Directors and stockholders. The terms of the proposed transaction provide that Sivers Photonics would be spun out and merged with byNordic, with the former equity holders of both Sivers Photonics and byNordic (following the completion of the Business Combination) holding equity in the combined publicly listed company, with Sivers holding majority ownership in the combined publicly listed company. Once the merger is finalized, the company plans to establish headquarters in Silicon Valley, CA with the manufacturing operations remaining in the U.K.
This transaction is expected to unlock significant value and create an independent U.S.-listed entity, which will bring Sivers Photonics closer to investors, customers, and partners within the US AI ecosystem. Sivers Photonics currently has approximately 80% of its net revenue in the U.S.
Setterwalls and Pillsbury Winthrop Shaw Pittman LLP are serving as legal counsel for Sivers Semiconductors. Loeb & Loeb LLP is serving as legal counsel for byNordic Acquisition Corporation. Aankondiging • Aug 03
byNordic Acquisition Provides Non-Compliance Update As previously disclosed, on April 10, 2024, The Nasdaq Stock Market LLC (“Nasdaq”) notified byNordic Acquisition Corporation (the “Company”) that it did not comply with the minimum 400 total shareholders requirement for continued inclusion set in Nasdaq’s Listing Rule 5450(a)(2) (the “Rule”). The Company submitted a plan of compliance on May 24, 2024 demonstrating how it would cure the deficiency in compliance. On August 1, 2024, Nasdaq notified the Company that it had determined that it would be unable to grant the Company’s request for continued listing on Nasdaq. As a result, unless the Company requests an appeal of the determination by August 8, 2024, trading of the Company’s securities will be suspended at the opening of business on August 12, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration on Nasdaq. The Company plans to request an appeal of the determination by August 8, 2024, which will stay the suspension of the Company’s securities and the filing of the Form 25-NSE pending the hearing panel’s decision. Aankondiging • Jul 22
byNordic Acquisition Corporation, Annual General Meeting, Aug 07, 2024 byNordic Acquisition Corporation, Annual General Meeting, Aug 07, 2024. Location: meeting id: 92034983299, United States Aankondiging • Jun 18
byNordic Acquisition Corporation announced that it has received $0.2 million in funding byNordic Acquisition Corporation announced a private placement to issue a promissory note at an issue price of $200,000 for the gross proceeds of $300,000 on June 17, 2024. The transaction included participation from returning lender DDM Debt AB (publ). The Note bears no interest and is payable in full upon the consummation of the Company’s initial business combination the Maturity Date. A failure to pay the principal on the Maturity Date shall be deemed an event of default, in which case the Note may be accelerated. If the Company does not consummate an initial business combination, the Note will be repaid solely to the extent the Company has funds available outside its trust account established in connection with the Company’s initial public offering. Aankondiging • May 17
byNordic Acquisition Corporation announced delayed 10-Q filing On 05/15/2024, byNordic Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Aankondiging • Apr 13
byNordic Acquisition Corporation Receives Non-Compliance Letter from Nasdaq On April 10, 2023, byNordic Acquisition Corporation received a letter (the Letter) from the staff at The Nasdaq Stock Market LLC (Nasdaq) notifying the Company that the Company no longer complies with the requirements of Nasdaq Listing Rule 5450(a)(2) (the Rule) for continued listing on Nasdaq. Under the Rule, the Company is required to maintain at least 400 total holders (the Total Holder Requirement). The Notice indicates that the Company has 45 calendar days (the Deadline) to submit a plan (the Compliance Plan) to regain compliance with the Rule. If Nasdaq accepts the Compliance Plan, Nasdaq can grant the Company an extension of up to 180 calendar days from the date of the Notice to evidence compliance. If Nasdaq does not accept the Compliance Plan, the Company may appeal the decision to a Nasdaq hearings panel. There can be no assurance that the Company will ultimately be able to regain or maintain compliance with the Rule. The Company, by filing this Form 8-K, discloses its receipt of the notice in accordance with Nasdaq Listing Rule 5810(b). Aankondiging • Apr 03
byNordic Acquisition Corporation announced delayed annual 10-K filing On 04/02/2024, byNordic Acquisition Corporation announced that they will be unable to file their next 10-K by the deadline required by the SEC. Aankondiging • Dec 17
byNordic Acquisition Receives Letter from Nasdaq Regarding Non-Compliance with Minimum $50,000,000 Market Value of Listed Securities Requirement Set in Nasdaq Listing Rule 5450(b)(2)(A) On December 11, 2023, byNordic Acquisition Corporation (the ‘Company’) received a letter (the ‘Letter’) from the staff at The Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that, for the 30 consecutive trading days prior to the date of the Letter, the Company’s common stock had traded at a value below the minimum $50,000,000 ‘Market Value of Listed Securities’ (‘MVLS’) requirement set in Nasdaq Listing Rule 5450(b)(2)(A), which is required for continued listing of the Company’s common stock on The Nasdaq Global Market. The Letter is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s securities on Nasdaq. In accordance with Nasdaq listing rule 5810(c)(3)(C), the Company has 180 calendar days, or until June 10, 2024, to regain compliance. The Letter notes that to regain compliance, the Company’s common stock must trade at or above a level such that the Company’s MVLS closes at or above $50,000,000 for a minimum of ten consecutive business days during the compliance period, which ends June 10, 2024. The Letter further notes that if the Company is unable to satisfy the MVLS requirement prior to such date, the Company may be eligible to transfer the listing of its securities to The Nasdaq Capital Market (provided that the Company then satisfies the requirements for continued listing on that market). If the Company does not regain compliance by June 10, 2024, Nasdaq staff will provide written notice to the Company that its securities are subject to delisting. At that time, the Company may appeal any such delisting determination to a hearings panel. The Company intends to actively monitor the Company’s MVLS between now and June 10, 2024, and may, if appropriate, evaluate available options to resolve the deficiency and regain compliance with the MVLS requirement. While the Company is exercising diligent efforts to maintain the listing of its securities on Nasdaq, there can be no assurance that the Company will be able to regain or maintain compliance with Nasdaq listing standards. Aankondiging • Nov 15
byNordic Acquisition Corporation announced delayed 10-Q filing On 11/14/2023, byNordic Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Aankondiging • May 16
byNordic Acquisition Corporation announced delayed 10-Q filing On 05/15/2023, byNordic Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Board Change • Dec 31
High number of new directors Independent Director Steven Wasserman was the last director to join the board, commencing their role in 2022. Aankondiging • May 18
byNordic Acquisition Corporation announced delayed 10-Q filing On 05/17/2022, byNordic Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Aankondiging • Apr 03
byNordic Acquisition Corporation announced delayed annual 10-K filing On 04/01/2022, byNordic Acquisition Corporation announced that they will be unable to file their next 10-K by the deadline required by the SEC. 