Brilliant Acquisition Corporation Announces Full Exercise of Overallotment Option
June 30 2020 - 9:00PM
Brilliant Acquisition Corporation (Nasdaq: BRLIU, the “Company”)
announced today that it closed the full 600,000 unit over-allotment
option of its initial public offering of 4,000,000 units, which
itself closed on June 26, 2020. The overallotment exercise resulted
in gross proceeds of $6,000,000.
The Company’s units began trading on the Nasdaq Capital Market
(“Nasdaq”) on June 24, 2020 and trade under the ticker symbol
“BRLIU.” Each unit consists of one ordinary share, one right
entitling the holder to 1/10 of one ordinary share, and one warrant
to purchase one ordinary share at a price of $11.50. Once the
securities comprising the units begin separate trading, the
ordinary shares, rights, and warrants are expected to be listed on
Nasdaq under the symbols “BRLI,” “BRLIR,” and “BRLIW,”
respectively.
Of the proceeds received from the consummation of the
over-allotment of the initial public offering and a simultaneous
private placement of units, $6,000,000 (or $10.00 per unit sold in
the public offering) was placed in trust. An audited balance sheet
of the Company as of June 30, 2020, reflecting receipt of the
proceeds upon consummation of the initial public offering, the
private placements, and the over-allotment offering, will be
included as an exhibit to a Current Report on Form 8-K to be filed
by the Company with the Securities and Exchange Commission.
RAITI, PLLC acted as counsel to the Company and Graubard Miller
acted as counsel to the underwriters.
EarlyBirdCapital, Inc., acted as lead book running manager.
I-Bankers Securities, Inc., acted as co-manager.
About the Company
Brilliant Acquisition Corporation is a blank check company
organized for the purpose of effecting a merger, capital stock
exchange, asset acquisition, or other similar business combination
with one or more businesses or entities. The Company’s efforts to
identify a prospective target business will not be limited to any
particular industry or country, but the Company intends to
initially focus on targets operating in the Asia-Pacific markets.
Specifically, the Company intends to focus on sectors and
industries within the Asia-Pacific region that can leverage
emerging favorable demographic, political, and economic trends,
including current economic and business trends throughout
Singapore, China, Indonesia, Vietnam, as well other Asia-Pacific
jurisdictions.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on
June 23, 2020. The offering was made only by means of a prospectus,
copies of which may be obtained by contacting EarlyBirdCapital,
Inc., 366 Madison Avenue, 8th Floor, New York, New York 10017.
Copies of the registration statement can be accessed through the
SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Forward Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward looking statements are
statements that are not historical facts. Such forward- looking
statements are subject to risks and uncertainties, which could
cause actual results to differ from the forward looking statements.
The Company expressly disclaims any obligations or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company’s
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
Contact:
Dr. Peng JiangChief Executive OfficerBrilliant Acquisition
Corporation+ (86) 021-80125497
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