byNordic Acquisition Corporation reported its financial results for the second quarter of 2025, revealing a net loss of $135,963 for the three months ended June 30, 2025, compared to a net income of $79,448 for the same period in 2024. The company’s total operating costs for the quarter were $242,931, which included general and administrative support fees of $30,000 and franchise taxes of $26,780. Interest earned on marketable securities held in the Trust Account amounted to $128,284, a significant decrease from $532,914 in the prior year, contributing to the overall loss.
For the first half of 2025, byNordic reported a net loss of $315,421, a stark contrast to the net income of $174,181 recorded in the first half of 2024. The total operating costs for the six months ended June 30, 2025, were $525,991, down from $682,224 in the previous year. The decline in interest income from marketable securities, which fell to $254,255 from $1,059,494, was a key factor in the company's financial performance.
The company’s balance sheet as of June 30, 2025, showed total assets of $12,609,296, an increase from $12,248,615 at the end of 2024. Current liabilities rose to $7,723,141, up from $7,047,698, primarily due to increased accrued expenses and a promissory note to a related party, which increased to $7,085,000 from $6,235,000. The stockholders’ deficit also widened to $(13,648,470) from $(12,927,870) as of December 31, 2024.
In terms of operational developments, byNordic has not yet completed any business combination since its inception. The company has extended its business combination period to September 12, 2025, with the possibility of further extensions until August 12, 2026, contingent upon additional deposits into the Trust Account. The company has also engaged in various promissory notes with its sponsor and affiliates, totaling $7,085,000, to support its working capital needs and extend the combination period.
Looking ahead, byNordic faces significant challenges, including a working capital deficit of $7,422,411 and uncertainty regarding its ability to complete a business combination by the extended deadline. The company has indicated that if it fails to consummate a business combination by the deadline, it will face mandatory liquidation and dissolution. The ongoing geopolitical tensions and market conditions may further complicate its search for a suitable target for acquisition.
About byNordic Acquisition Corp
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