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Broad Capital Acquisition Corp. (BRACU, BRAC, BRACR) is a special purpose acquisition company that has generated news primarily through its capital markets activities, proposed business combination, listing status, and subsequent deregistration decisions. As a blank check company, its public updates have centered on its initial public offering, efforts to identify and combine with a target business, and later regulatory and listing developments.
News coverage for Broad Capital Acquisition Corp. includes its announcement of a NASDAQ Global Market listing of units composed of common stock and rights, as well as details of its initial public offering. Later reports describe the company’s entry into a definitive Agreement and Plan of Merger and Business Combination Agreement with Openmarkets Group Pty Ltd. and related parties in connection with an initial business combination.
Subsequent news items document the termination of that merger agreement by Openmarkets Group Pty Ltd., Nasdaq’s decision to cease trading of the company’s securities due to non-compliance with a listing rule relating to the minimum number of publicly held shares, and the filing of a Form 25 by the Securities and Exchange Commission to delist the company’s securities from Nasdaq.
Further announcements explain the board of directors’ decision for Broad Capital Acquisition Corp. to voluntarily file a Form 15 to deregister from its SEC reporting requirements, citing the rising costs and administrative burdens of remaining a publicly reporting company. Readers following BRACU-related news can use this page to review the sequence of events from the company’s initial public offering through its proposed business combination, listing changes, delisting and deregistration, providing context on the life cycle of this SPAC.
Broad Capital Acquisition Corp. (NASDAQ: BRAC) has announced its intention to voluntarily deregister from SEC reporting requirements. This decision follows a series of significant events, including the termination of its planned business combination with Openmarkets Group Pty Ltd. (OMG) on February 12, 2025, and the delisting of its securities from Nasdaq on June 5, 2025.
The delisting occurred after BRAC failed to maintain the required minimum of 1,100,000 publicly held shares as of December 31, 2024. The company's board determined that the increasing costs and administrative burdens of maintaining public company status outweigh the benefits, citing rising compliance expenses related to SEC, Sarbanes-Oxley, and Nasdaq requirements.
Broad Capital Acquisition Corp (NASDAQ: BRAC) has announced a $60,000 deposit into its trust account, enabling a seventh monthly extension to consummate its initial business combination. This extension, at $0.035 per public share, pushes the deadline to August 13, 2024.
The company has a Business Combination Agreement with Openmarkets Group Pty (OMG), an Australian company, signed on January 18, 2023. This agreement, involving BMYG OMG Pty and Broad Capital as the company's sponsor, outlines the planned initial business combination.
Broad Capital Acquisition Corp, a special purpose acquisition company formed by Broad Capital , can potentially use up to twelve monthly extensions under its Amended and Restated Certificate of Incorporation.
Broad Capital Acquisition Corp (NASDAQ: BRAC) announced a $60,000 extension payment into its trust account on June 12, 2024. This payment, equating to $0.035 per public share, extends the company’s deadline to complete its initial business combination to July 13, 2024. This is the sixth of twelve allowable monthly extensions under the company's amended certificate of incorporation. Broad Capital Acquisition Corp has an ongoing agreement, dated January 18, 2023, to merge with Openmarkets Group Pty , an Australian company, and its affiliates.
Broad Capital Acquisition Corp. (NASDAQ: BRAC, BRACR, BRACU) has extended its deadline to finalize its initial business combination to June 13, 2024. The company deposited $60,000 into its trust account, translating to $0.035 per public share, for this extension. This marks the fifth of twelve permissible monthly extensions. The company has a standing agreement since January 18, 2023, to merge with Openmarkets Group Pty and BMYG OMG Pty
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