Brilliant Acquisition, a blank check company targeting an Asia Pacific business, raised $40 million by offering 4 million units at $10. Each unit consists of one share of common stock, one warrant exercisable at $11.50, and one right to receive one-tenth a share of common stock. At pricing, the company commands a market value of $53 million.
Brilliant Acquisition is led by CEO, CFO, and Chairman Peng Jiang, who currently serves as a VP at Ning Sheng Enterprise and Principal of Greater Hangzhou Bay Fin-Tech Research Institute. While the company has not identified a target industry, it intends to focus on businesses operating in the Asia-pacific region with an enterprise value of $200 million to $300 million.
Brilliant Acquisition plans to list on the Nasdaq under the symbol BRLIU. EarlyBirdCapital acted as a lead manager on the deal.
