Nordicus Partners Corp has announced a significant financial maneuver by entering into a $75,000 promissory note with AC Nordic ApS, a related-party lender. This move is intended to enhance the company's working capital and support general corporate purposes.
The promissory note, issued on October 8, 2026, carries an interest rate of 6.0% per annum, with interest calculated based on a 365-day year. The terms of the note allow for payment on demand, with provisions for default that enable the lender to declare all amounts due immediately.
Nordicus Partners Corp operates in the management consulting services sector, which is characterized by firms providing advisory services to organizations. The company’s strategic decision to secure this funding reflects a broader trend in the industry, where companies are increasingly seeking liquidity to navigate economic uncertainties.
According to the filing, the lender, AC Nordic ApS, is wholly owned by Torben Jensen, a member of Nordicus’s Board of Directors. The transaction was reviewed and approved by disinterested board members, ensuring that governance standards were upheld. Mr. Jensen abstained from the approval process due to his interest in the transaction.
The proceeds from the note will be utilized for working capital and general corporate purposes, indicating a proactive approach by Nordicus to strengthen its financial position. The company may also consider similar funding strategies in the future as it seeks to optimize its capital structure.
As part of the filing, a copy of the promissory note is included as Exhibit 10.1, providing further details on the terms and conditions of the agreement. The note was issued under the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, indicating that it is not intended for public offering.
This development follows a series of recent filings by Nordicus, including an 8-K on October 14, 2026, which outlines the company's ongoing financial activities. The management consulting services industry may take note of this transaction as it reflects the financial strategies employed by firms in the sector.
Looking ahead, Nordicus Partners Corp has not indicated any immediate next steps following this filing, leaving stakeholders to await further updates on the company’s financial health and strategic direction.