Brilliant Acquisition Corp. (BRLI) Adjourns Extension Vote
by Marlena Haddad on 2023-04-13 at 8:47am

Brilliant Acquisition Corp. (NASDAQ:BRLI) announced this morning that its chairman intends to adjourn its extension vote, originally scheduled to be held on April 17, and will reconvene at 10:00 a.m. ET on April 20.

In connection with the adjournment of the meeting, BRLI is also extending the redemption deadline to April 18.

The SPAC is working to close its $140 million deal with payments platform Nukkleus, which it announced in February 2022. As of now, Brilliant faces a completion deadline of April 23, but intends to gain shareholder approval at its upcoming meeting to extend its timeline up to no later than July 23. Jersey City, New Jersey-based Nukkleus provides software to process exchanges of crypto and foreign currencies as well as contracts for differences (CFDs) for these assets.

Brilliant announced in September that it doubled the size of its pool of shares to be distributed to shareholders at the close of its combination with Nukkleus. Shareholders are now expected to receive the lower of 1,012,000 shares between them or the equivalent of 40% of all outstanding shares and rights immediately prior to close. This is up from either 506,000 or 20% of aggregate shares and rights.

 

Recent Posts
by Anthony Sozzi on 2024-07-02 at 1:54pm

With June wrapping up, legacy SPACs have continued to need to approve additional time for their business combinations, while at the same time, new deals have paved the way for the future. The amount of funds that could be left in the trust account is unknown territory for newly issued SPACs, but these fresh starts...

by Nicholas Alan Clayton on 2024-07-02 at 9:19am

Eureka Acquisition Corp announced the pricing of its $50 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EURKU”, Tuesday, July 2, 2024. The new SPAC aims to combine with a target in Asia utilizing the team’s established deal-sourcing network among private equity and venture capital firms in...

by Nicholas Alan Clayton on 2024-07-02 at 8:22am

At the SPAC of Dawn SPACs jumped into show business in a big way this year with Screaming Eagle‘s combination with Lionsgate Studios (NASDAQ:LION). But, they had already been active in the music scene listing companies like Middle Eastern music streamer Anghami (NASDAQ:ANGH), music portfolio investor Reservoir (NASDAQ:RSVR) and ticket seller Vivid Seats (NASDAQ:SEAT). But,...

by Nicholas Alan Clayton on 2024-07-01 at 4:48pm

June finished the half strong for the SPAC market, which was capped off by Cayson (NASDAQ:CAPNU) and Calisa (NASDAQ:ALISU) each filing for $60 million IPOs with EarlyBirdCapital underwriting on the last trading day of the month. These two have been grouped together here due to the great number of similarities they bear in their terms....

by Nicholas Alan Clayton on 2024-07-01 at 2:49pm

Andretti II (NASDAQ:AAMU) has filed for an IPO as the largest of the trio of new SPACs to file late last week, seeking $200 million with a repeat team. It is in fact the first repeat SPAC team that underwriter BTIG has nailed down in 2024 and the SPAC’s terms are highly similar to that...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved