Nukkleus, formerly Compliance & Risk Management Solutions, today announced a merger agreement with Brilliant Acquisition. The transaction values the company at an enterprise value of approximately $140 million.
The merger agreement calls for Nukkleus to undertake a reverse stock split at a ratio of 1:25.146, or such other ratio that the parties may yet agree upon.
New Jersey-based Nukkleus offers software to process exchanges of crypto and foreign currencies as well as contracts for differences (CFDs).
Today’s deal announcement follows the resignation of two Brilliant Acquisition board members last week. in an SEC filing the SPAC said “they no longer wished to participate as directors of the Company in the business combination process.”
Brilliant is on its third merger deadline extension, which is due to expire March 25. Read more.
