Crypto Aggregator Nukkleus To Be Taken Public In A SPAC Merger
Nukkleus, Inc. (OTC: NUKK) has announced a business combination agreement with the China-based special purpose acquisition company Brilliant Acquisition Corp. (Nasdaq: BRLI). The transaction values the company at a pre-merger enterprise value of US$140 million.
The combined company, expected to operate under Nukkleus, will trade on the Nasdaq Capital Market under the symbol “NUKK”.
“We are very excited that Brilliant has recognized the opportunity Nukkleus provides its shareholders,” said Nukkleus CEO Emil Assentato. “Nukkleus, through the use of leading-edge technology, bridges many asset class execution points and applies this technology to revolutionize global money movement.”
The New Jersey-based fintech firm’s existing shareholders will hold approximately 66% of the shares of the combined company upon closing, which is expected to be by Q2 or Q3 2022 upon securing shareholders’ approval. Both companies’ boards have already approved the proposed merger.
The Shanghai-headquartered blank check firm conducted its US$40 million IPO in June 2021. According to its prospectus, it intended to pursue a combination with businesses that have their primary operations located in the Asia-Pacific region.
Brilliant Acquisition last traded at US$10.27 on the Nasdaq while Nukkleus last traded at US$0.21 on the OTC markets.
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
