Briliant Acquisition in an 8-K said it and merger partner Nukkleus, a blockchain payment company, have agreed to extend the outside closing date for their deal to no later than Jan. 23.
Meanwhile, the SPAC is asking for shareholders to approve a 6th deadline extension. The current deadline is Oct. 23.
Redemptions on the 5th extension vote, in July, came to 1,025,281 shares, or about 18%. Brilliant raised $175 million in a 2020 IPO.
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. Read more.
