Broad Capital extends SPAC deadline to Jan 2026; $19.3M redeemed, shares drop to 101K

Broad Capital Acquisition Corp

Stockholders approved extending business combination deadline from Jan 13 2025 to Jan 13 2026 via up to 12 monthly extensions.
Monthly extension fee reduced from $60k to lesser of $40k or $0.03 per non-redeemed share; first deposit of $3,036.48 made.
1,616,447 shares redeemed at ~$11.96/share, removing ~$19.3M from trust; only 101,216 shares outstanding post-redemption.
Charter and trust agreement amended to reflect new fee formula and extended deadline; trust cash will be held in demand deposit.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Broad Capital Acquisition Corp: Amended Charter to extend business combination deadline by up to twelve one-month extensions to January 13, 2026 and reduce monthly extension fee (effective 2025-01-13).

Change: charter amendment
Effective: 2025-01-13

Exact text from the filing

(a) to extend the date by which we have to consummate a business combination from January 13, 2025

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Source: SEC EDGAR

accession 0001493152-25-002833

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