Loan & DebtMay 4, 2026, 04:07 PM
byNordic Acquisition Corp Issues $250,000 Promissory Note
AI Summary
byNordic Acquisition Corp issued a $250,000 promissory note to Achilles Capital AB, an affiliate of its sponsor, Water by Nordic AB. The note, which bears no interest, is for general working capital and is due upon the consummation of the company's initial business combination. If no business combination occurs, repayment is limited to funds outside the trust account, and the payee has waived claims against the Trust Account. For tax purposes, the note will be treated as an equity interest.
Key Highlights
- byNordic Acquisition Corp issued a promissory note for $250,000.
- The lender is Achilles Capital AB, an affiliate of the company's sponsor.
- Proceeds from the note will be used for general working capital.
- The promissory note bears no interest.
- The principal amount is due upon the consummation of the initial business combination.
- If no business combination occurs, repayment is limited to funds outside the trust account.
- The payee waives any claims against the company's Trust Account.
- The note will be treated as an equity interest for tax purposes.
Price Impact
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