byNordic Acquisition Corporation Announces Closing of Fully Exercised Over-Allotment Option in … | News

NEW YORK, Feb. 24 28, 2022 (GLOBE NEWSWIRE) — byNordic Acquisition Corporation (Nasdaq: BYNOU) (the “Company”) announced today that, on February 18, 2022, the underwriters of its initial public offering, pursuant to the terms of the entered into with the Company, exercised their over-allotment option in full by purchasing an additional 2,250,000 units, consisting of 2,250,000 Class A common shares and 1,125,000 redeemable warrants, as part of its initial public offering the offering at $10.00 per unit, generating additional gross proceeds of $22,500,000 for the Company and bringing the total gross proceeds from the initial public offering to $172,500,000.

The Company’s shares are listed on the Nasdaq Global Market, or Nasdaq, and began trading on February 9, 2022, under the symbol “BYNOU”. Each unit consists of one Class A common share of the Company and one-half redeemable warrant of the Company, each whole warrant entitling its holder to purchase one Class A common share at a price of $11.50 per share. Only whole warrants can be exercised. Once the securities comprising the units begin trading separately, the Class A common stock and warrants are expected to trade on Nasdaq under the symbols “BYNO” and “BYNOW”, respectively.

The Company is a blank check corporation formed for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more . The Company has not selected any specific business combination objective. While the Company may pursue an acquisition opportunity in any business, industry, sector or geographic location, it intends to focus on identifying growth high-tech companies in the northern part of the world. ‘Europe.

The Company is led by its Chairman and CEO, Michael Hermansson, its Chief Operating Officer, Thomas Fairfield, its Chief Acquisition Officer, Mats Karlsson, its Chief Marketing Officer, Alexander Lidgren and its Chief Technology Officer, Christian Merheim. Mr. Hermansson, Mr. Karlsson, Mr. Lidgren and Mr. Merheim are based in Sweden.

Keefe, Bruyette & Woods, Drexel Hamilton, LLC and I-Bankers Securities, Inc. acted as book managers for the offering.

The proceeds received from the completion of the initial public offering and a concurrent private placement of Class A common shares on the initial closing date which occurred on February 11, 2022 and the proceeds received from the completion of the over-allotment option fully exercised on February 18, 2022, $175,950,000 (or $10.20 per unit sold in the public offering) was placed in trust. An audited balance sheet of the Company as of February 11, 2022 reflecting receipt of proceeds upon completion of the initial public offering and concurrent private placement of the Class A common shares without giving effect to the exercise in full of the over-allotment option has been included as an attachment to a current report on Form 8-K filed by the Company with the Securities and Exchange Commission (the “SEC”).

The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from Keefe, Bruyette & Woods, A Stifel Company at 787 Seventh Avenue, Fourth Floor, New York, NY 10019, by email at [email protected], by fax at 212-581- 1592, or by dialing 1-800-966-1559; Drexel Hamilton, LLC at 77 Water Street, Suite 201, New York, NY 10005, by email at [email protected], or by calling 646-412-1504; or I-Bankers Securities, Inc. at 1208 Shady Lane N, Keller, Texas 76248.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (the “SEC”) at 4:00 p.m. Eastern Time on February 8, 2022. This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of such securities in any state or jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of securities of such state or jurisdiction.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements”, including with respect to the intended use of net proceeds. There can be no assurance that the net proceeds of the offering will be used as stated. Forward-looking statements are subject to numerous conditions, many of which are beyond the Company’s control, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the offering filed with the SEC. . Copies are available on the SEC’s website, www.sec.gov. The Company assumes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact

Michael Hermansson Chief Executive Officer + 46 707 294100 [email protected]

Thomas Fairfield Chief Operating Officer 302-530-4621 [email protected]

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Luisa D. Fuller