Sivers Semiconductors AB puts on hold the de-SPAC merger discussions with byNordic Acquisition Corporation, removing uncertainty in the market
byNordic Acquisition Corporation - Class A (BYNO)
Company Research
Source: PR Newswire
KISTA, Sweden, Nov. 11, 2024 /PRNewswire/ -- Sivers Semiconductors AB (STO: SIVE), a leading supplier of RF beamformers for Satellite Communications (SATCOM) and Photonics lasers for AI Datacenters, today announced that its Board of Directors has decided to put on hold its discussions with byNordic Acquisition Corporation (Nasdaq: BYNO) regarding the proposed business combination with Sivers Photonics Ltd, a subsidiary of Sivers Semiconductors, and release BYNO to seek other merger candidates."While we agree with ByNordic's thesis that our photonics business is highly undervalued in Sivers' current market capitalization with its critical positioning in the upcoming AI datacenters, the capital markets for successfully executing SPAC mergers remain challenging. Consequently, we have elected to put our pencils down on this opportunity. We appreciate all the efforts of ByNordic's team, and wish them success", said Bami Bastani, Chairman of the Board of Directors of Sivers Semiconductors A
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Sec Filings
- 11/20/24 - Form SC
- 11/14/24 - Form 10-Q
- 11/14/24 - Form SC
- BYNO's page on the SEC website