Brilliant Acquisition revised its deal terms with Nukkleus, a blockchain payment company. The merger agreement was announced in February 2022 and originally valued at $140 million.
The parties agreed to revise the 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.
