Brilliant Acquisition Corp. (Nasdaq: BRLI) announced on Friday evening that it has closed its combination with crypto payments firm Nukkleus. Shareholders had already approved the deal during a special meeting held on December 13.
The combined company has been redomesticated to Delaware and its name has now been changed to Nukkleus Inc. The common stock and warrants of the combined company are set to begin trading on the Nasdaq under the ticker symbols NUKK and NUKKW today, December 26.
Although the SPAC still has not yet released redemption numbers from its meeting, it went into the completion vote with an aggregate of 91.22% of its trust already redeemed from previous extension votes, leaving it with $4.5 million.
As a “backstop” for holders of the combined company, common stock, rights, and warrants will be issued to BRLI shareholders at the rate of 0.4 of a share or a warrant of the combined company for each outstanding share, right, or warrant held.
Brilliant initially announced its combination with Nukkleus in February 2022. 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.
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