byNordic Acquisition Secures Extension for up to a Year at a Cost of 84% of Trust | SPAC Feed

byNordic Acquisition stockholders approved a deadline extension from today until Feb. 12, 2024. The SPAC's board also won approval to push the deadline to Aug. 12 2024 in monthly increments without another shareholder vote.

The SPAC said 13,663,728 shares were redeemed at approximately $10.61 per share, for an aggregate amount of nearly $145 million — about 84% of the trust.

Shareholders who did not redeem will see the lesser of $625,000 or 24 cents a share deposited monthly into trust for the first six months of the extension.

If the deadline is extended beyond February 2024, the monthly deposit into trust would be the lesser of $105,000 or 4 cents a share.

The SPAC raised $172.5 million in a February 2022 IPO to focus on high technology growth companies in the northern part of europe. Read more.

Source: byNordic Acquisition Secures Extension for up to a Year at a Cost of 84% of Trust

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• Source: https://spacfeed.com/bynordic-acquisition-secures-extension-for-up-to-a-year-at-a-cost-of-84-of-trust