Brilliant Acquisition Corp. (NASDAQ:BRLI) announced this morning that its chairman intends to adjourn its extension vote, originally scheduled to be held on April 17, and will reconvene at 10:00 a.m. ET on April 20.
In connection with the adjournment of the meeting, BRLI is also extending the redemption deadline to April 18.
The SPAC is working to close its $140 million deal with payments platform Nukkleus, which it announced in February 2022. As of now, Brilliant faces a completion deadline of April 23, but intends to gain shareholder approval at its upcoming meeting to extend its timeline up to no later than July 23. Jersey City, New Jersey-based Nukkleus provides software to process exchanges of crypto and foreign currencies as well as contracts for differences (CFDs) for these assets.
Brilliant announced in September that it doubled the size of its pool of shares to be distributed to shareholders at the close of its combination with Nukkleus. Shareholders are now expected to receive the lower of 1,012,000 shares between them or the equivalent of 40% of all outstanding shares and rights immediately prior to close. This is up from either 506,000 or 20% of aggregate shares and rights.
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