Brilliant Acquisition has extended its merger deadline to July 23. In return, the SPAC’s sponsor has deposited $634,594 in Brilliant’s trust account, representing 16 cents per share that was not redeemed in connection with the shareholder vote to approve the extension.
Brilliant said it needed more time to finalize its proposed business combination with New Jersey-based Nukkleus, a blockchain payments company.
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.
This is Brilliant’s fourth merger extension. The third was due to expire Friday. Read more.
