Brilliant Acquisition in an 8-K filing today disclosed that board member Mitchell Cariaga resigned from the board of directors on Feb. 15. He served on the board’s audit and compensation committees. Three days later, board member Xiaoying Sun resigned. She was chair of the SPAC’s audit committee and a member of the compensation committee.
Although they did not formally indicate it in their letters, “it is the Company’s understanding that Mr. Cariaga and Ms. Sun resigned as a result of their respective determinations that they no longer wished to participate as directors of the Company in the business combination process,” the filing states.
Brilliant is on its third merger deadline extension, which currently expires March 25.
The SPAC in its March 2020 S-1 filing said it would focus on companies in the Asia-Pacific region. Brilliant Acquisition raised $40 million in a June 2020 IPO. Read more.
