PLANO, Texas, Feb. 22, 2022 /PRNewswire/ -- Broad Capital
Acquisition Corp (the "Company") today announced that
commencing February 23, 2022, holders of the units sold in the
Company's initial public offering may elect to separately trade the
shares of common stock and rights included in the units on The
Nasdaq Global Market ("Nasdaq").
Each unit consists of one share of common stock, par
value $0.000001 per share and one right. Each right
entitles the holder to receive one-tenth (1/10) of a share of
common stock upon consummation of its initial business combination.
The shares of common stock and rights that are separated will trade
on the Nasdaq under the symbols "BRAC" and "BRACR," respectively.
Those units not separated will continue to trade on the Nasdaq
under the symbol "BRACU."
Holders of the units will need to have their brokers contact
Continental Stock Transfer & Trust Company, the Company's
transfer agent, in order to separate the holders' units into shares
of common stock and rights.
The units were initially offered by the Company in an
underwritten public offering. Chardan acted as the sole book
running manager in the offering.
A registration statement relating to the units and the
underlying securities became effective on January 10, 2022. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
the securities of the Company, 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. A copy of the final prospectus relating to the
offering may be obtained for free by visiting the U.S. Securities
and Exchange Commission (the "SEC") website at http://www.sec.gov.
ABOUT BROAD CAPITAL ACQUISITION CORP
Broad Capital Acquisition Corp is a blank check company
organized for the purpose of effecting a merger, stock exchange,
asset acquisition, stock purchase, recapitalization 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
geographic region.
FORWARD LOOKING STATEMENTS
This press release contains statements that constitute
"forward-looking statements." Forward-looking statements are
subject to numerous conditions, many of which are beyond the
control of the Company, including those set forth in the Risk
Factors section of the Company's registration statement and
prospectus for the Company's initial public offering filed with the
SEC. Copies are available on the SEC's website, www.sec.gov. The
Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as
required by law.
View original
content:https://www.prnewswire.com/news-releases/broad-capital-acquisition-corp-announces-separate-trading-of-its-common-stock-and-rights-commencing-february-23-2022-301487443.html
SOURCE Broad Capital Acquisition Corp.
