DDM welcomes intended merger between Sivers’ Photonics AI unit and byNordic SPAC

DDM Debt AB (“DDM Debt”, Nasdaq Stockholm: DDM Debt 2026) welcomes the announcement that Sivers Semiconductors AB has entered into a non-binding letter of intent (LOI) to merge its Photonics AI subsidiary with byNordic Acquisition Corporation, a publicly-traded special purpose acquisition company.

Jörgen Durban, Chairman of the Board of DDM comments: "We share the view that the potential for AI Photonics is immense. With this transaction, we aim to set the stage for Sivers Photonics AI to flourish as a standalone company with access to the U.S. capital markets and institutional investors.”  

DDM Debt currently owns 27,719,006 shares in Sivers Semiconductors, corresponding to 11.8% of total share capital and votes, and currently holds approximately 30% of sponsor shares in byNordic Acquisition Corporation.

This is information which DDM Debt AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication on 6 August 2024 at 22:35 CEST.

For more information, please contact:

Erik Fällström, Chief Executive Officer

Matthew Doerner, Chief Operating Officer

Mail: investor@ddm-group.ch

DDM Debt AB (publ) (Nasdaq Stockholm: DDM Debt 2026) is part of the DDM Group, a specialized multinational investor in situations arising out of the general strategic challenges in the European banking markets. This includes investments into assets and companies previously held by financial institutions, including performing and non-performing loans and special situations. The DDM Debt Group also engages in businesses that are related, complimentary, incidental, ancillary or similar to any of the foregoing. DDM strives to create value for its stakeholders by combining significant expertise in financial services, credit underwriting and technology with a focus on operational excellence.