M&A: Broad Capital Acquisition Ltd

Form Type: S-4/A

Filing Date: 2024-12-31

Corporate Action: Merger

Type: Update

Accession Number: 000149315224052709

Comments: Broad Capital Acquisition Corp. has filed Amendment No. 10 to its Form S-4 registration statement detailing a business combination with Openmarkets Group Pty Ltd (OMG). This amendment includes information regarding the upcoming Special Meeting of stockholders, which will involve a vote on critical proposals pertinent to the business combination, including the company's redomestication as an Australian public limited company, liquidation of the existing company, and a subsequent acquisition of OMG. The transaction encompasses an aggregate acquisition cost of approximately $75 million in Purchaser Shares. Stockholders will be asked to vote on multiple proposals such as the Business Combination Proposal, which aims to approve the merger, a Nasdaq proposal concerning the issuance of shares, and several governance modifications. The filing emphasizes the implications of the business transaction on corporate governance and compliance as the company transitions to operating under Australian corporate law. The document urges stockholders to prepare for voting and outlines redemption rights if they choose to withdraw from the business combination.

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