byNordic Acquisition Corporation reported its financial results for the third quarter of 2025, revealing a net loss of $249,799 for the three months ending September 30, 2025, compared to a loss of $206,146 for the same period in 2024. The company’s total operating costs for the quarter were $323,033, which included general and administrative expenses, insurance, and listing fees. For the nine months ended September 30, 2025, the net loss was $565,220, significantly higher than the $31,965 loss reported for the same period in the previous year. The increase in losses is attributed to higher operating costs and a decrease in interest income from marketable securities held in the Trust Account.
The company’s total assets decreased to $5.74 million as of September 30, 2025, down from $12.25 million at the end of 2024. This decline was primarily due to a significant reduction in marketable securities held in the Trust Account, which fell from $11.86 million to $5.44 million. The company’s current liabilities also increased to $8.19 million, up from $7.05 million at the end of the previous fiscal year, largely driven by accrued expenses and a promissory note to a related party that rose to $7.39 million.
In terms of strategic developments, byNordic Acquisition Corporation has been actively extending its business combination period. The company’s board approved amendments to its Amended and Restated Certificate of Incorporation, allowing for extensions of the combination period until August 12, 2026. As part of this process, the company has deposited funds into the Trust Account to facilitate these extensions. As of September 30, 2025, the company had cash of $244,010 available for working capital, alongside a working capital deficit of $7.89 million.
The company has not yet identified a target for its business combination and has not commenced any operations since its inception. The management has indicated that it will continue to seek potential targets for acquisition while managing its cash flow and operational expenses. The ongoing geopolitical tensions and market conditions may impact the availability of suitable targets and the costs associated with potential business combinations. The company has until December 12, 2025, to complete a business combination, or it will face mandatory liquidation.
Looking ahead, byNordic Acquisition Corporation remains focused on identifying a suitable business combination while navigating the challenges posed by current market conditions. The management has expressed uncertainty regarding its ability to complete a business combination within the specified timeframe, which raises concerns about the company's ability to continue as a going concern. The company will continue to monitor its financial position and operational strategies as it approaches the end of the combination period.
About byNordic Acquisition Corp
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