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Brilliant Acquisition Corporation Announces Closing of $40 Million Initial Public Offering

New York, June 26, 2020 (GLOBE NEWSWIRE) -- Brilliant Acquisition Corporation (Nasdaq: BRLIU, the a??Companya??) announced today that it closed its initial public offering of 4,000,000 units. The offering was priced at $10.00 per unit, resulting in gross proceeds of $40,000,000.The Companya??s units began trading on the Nasdaq Capital Market (a??Nasdaqa??) on June 24, 2020 and trade under the ticker symbol a??BRLIU.a?? 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 a??BRLI,a?? a??BRLIR,a?? and a??BRLIW,a?? respectively.Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of units, $40,000,000 (or $10.00 per unit sold in the public offering) was placed in trust. An audited balance sheet of the Company as of June 26, 2020, reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement 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.
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