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Nukkleus Inc (OTC: NUKK) has filed its annual report on Form 10-K for the year ending September 30, 2022, highlighting the progress of its merger with Brilliant Acquisition Corp (Nasdaq: BRLI). The report shows that digitalRFQ, a Nukkleus subsidiary, achieved significant growth, processing over $350 million in cross-border digital asset payments in the past year. Nukkleus' COO Jamie Khurshid emphasized the increasing demand for blockchain technology in the financial marketplace. The company aims to revolutionize international wire transfers and plans to file a 10-Q and amend its Form S-4 Registration Statement as part of its merger preparations. Shareholders are encouraged to review relevant documents filed with the SEC for further insights.
Brilliant Acquisition Corporation has extended the deadline for its initial business combination by four months, now set for July 23, 2022. This extension is to allow time for a merger with Nukkleus Inc. Shareholders approved this extension on March 18, 2022. In connection with the extension, Brilliant's sponsor has deposited $634,594 into its trust account, equating to $0.16 per public share not redeemed. The merger aims to make Nukkleus the parent company upon completion.
Brilliant Acquisition Corp (Nasdaq: BRLI) announced a merger agreement with Nukkleus, Inc. for a proposed business combination valued at $140 million. This acquisition implies a share price of approximately 38 cents per Nukkleus share. The agreement includes a reverse stock split for Nukkleus that will result in 14 million shares outstanding prior to the merger. Shareholders of Brilliant who do not redeem their shares will receive Nukkleus shares based on a defined exchange ratio. The merger is seen as a strategic opportunity in the global fintech sector.