Broad Capital Acquisition Corp (BRAC) Postpones Extension Vote to Jan. 13

Broad Capital Acquisition Corp. (NASDAQ:BRAC) announced this morning that it is bumping its shareholder vote from January 9 to 10:30 am ET, January 10.

The special meeting will seek approval for the SPAC to extend its transaction deadline from January 13 to October 13 in exchange for a $0.0625 per share monthly contribution to the trust over this period.

Broad Capital initially IPO’d in January 2022 and has the option to automatically extend its deadline twice for three months in exchange for $0.10 per share contributions to its trust. But, is seeking to amend its extension schedule to give it some breathing room moving into 2023.

It initially raised $102.6 million in its IPO with the goal of combining with a target in the aviation industry with special attention paid towards companies with drone or advanced air mobility technology.