New York, June 08, 2021 (GLOBE NEWSWIRE) -- Brilliant Acquisition Corporation (the “Company”) announced today that, as the result of the U.S. Securities and Exchange Commission’s (“SEC’s”) recent guidance, released on April 12, 2021 relating to the accounting treatment of certain warrants issued in connection with special purpose acquisition company (“SPAC”) issuers, that the Company is conducting an analysis of the effect of the SEC’s guidance (if any) on the accounting treatment of its warrants. The Company’s conclusion as to the proper accounting treatment of its warrants (and corrective disclosures, if any) must be approved by its auditor, Marcum LLP (“Marcum”) before the Company can obtain Marcum’s consent to file its annual report on Form-10Q for the fiscal quarter ending March 31, 2021 (“Form-10Q”).
Brilliant Acquisition Corporation: New SEC Guidance Relating to SPAC Warrants, Its Effect on the Company's Periodic Filings and Compliance with Nasdaq Rules
Jun 08, 2021
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