Broad Capital Acquisition Corp Confirms Funding to Extend Period to Consummate Initial Business Combination

Dallas, Texas, Nov. 14, 2023 (GLOBE NEWSWIRE) —

Broad Capital Acquisition Corp. (the “Company”) (NASDAQ: BRAC, BRACR, BRACU), a special purpose acquisition company formed by Broad Capital LLC, today announced that on November 10, 2023 it caused to be deposited $150,000 (the “Extension Payment”) into the Company’s trust account for its public stockholders, representing $0.0332 per public share. This move is aimed at extending the period for the Company to consummate its initial business combination.

What Does This Funding Mean?

This funding provided by Broad Capital Acquisition Corp. will allow the company to have more time to identify and complete a suitable business combination. By extending the period to consummate the initial business combination, the Company aims to ensure that it finds the right opportunity that aligns with its investment criteria and benefits its stockholders.

With the Extension Payment, Broad Capital Acquisition Corp. demonstrates its commitment to its shareholders and its dedication to pursuing strategic investments that will drive value for all parties involved.

Effect on Individuals

For individual investors who hold shares in Broad Capital Acquisition Corp., the funding to extend the period for the initial business combination provides reassurance that the company is working diligently to secure a favorable deal. This extension allows investors more time to benefit from potential returns that may arise from a successful business combination.

Effect on the World

On a broader scale, the funding announcement from Broad Capital Acquisition Corp. signifies ongoing activity in the market for special purpose acquisition companies (SPACs). As SPACs continue to play a significant role in the finance and investment landscape, this move showcases the continued interest and innovation in pursuing unique opportunities for business growth and development.

Conclusion

The funding confirmation from Broad Capital Acquisition Corp. to extend the period for its initial business combination reflects the company’s strategic approach to securing a beneficial deal for its shareholders. This announcement not only impacts individual investors by providing them with additional time to capitalize on potential opportunities but also underscores the broader trend of innovation and growth in the world of special purpose acquisition companies.