Brilliant Acquisition Shareholders Approve Nukkleus Deal

Brilliant Acquisition announced in a regulatory filing that its shareholders voted in favor of combining with Nukkleus, a blockchain payment company. The merger agreement was announced in February 2022 and originally valued at $140 million, which was later adjusted.

Brilliant said 1,359,686 shares were voted to approve the merger, with 2,829 against. The filing did not state the number of redemptions.

The parties agreed last month to revise the share exchange ratio from 1:26.227 to 1:35, reduce the closing payment shares issuable to existing holders of Nukkleus common stock from 14 million shares to 10.5 million shares, and revise the composition of the post-merger board of directors.

New Jersey-based Nukkleus offers software to process exchanges of crypto and foreign currencies as well as contracts for differences (CFDs). 

The SPAC’s completion deadline is Dec. 23. Read more.

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