Broad Capital Acquisition Corp. Calls Special Stockholder Meeting

TL;DR

Broad Capital Acquisition Corp. (BCAC) holding Jan 13th special meeting. Proxy statement filed.

AI Summary

Broad Capital Acquisition Corp. is holding a special meeting of stockholders on January 13, 2024. The company, incorporated in Delaware with its principal office in Dallas, TX, is a blank check company. This filing is a definitive proxy statement, indicating it's for the definitive solicitation of proxies from shareholders.

Why It Matters

This filing is a proxy statement, which means shareholders will be asked to vote on important company matters, potentially including mergers or acquisitions.

Risk Assessment

Risk Level: low — This is a standard proxy statement filing for a special meeting, not indicating any immediate financial distress or significant operational changes.

Key Players & Entities

• Broad Capital Acquisition Corp. (company) — Registrant
• January 13, 2024 (date) — Date of Special Meeting
• 0001865120 (company) — Central Index Key
• 6770 (company) — Standard Industrial Classification (Blank Checks)
• DE (company) — State of Incorporation
• 1231 (date) — Fiscal Year End
• 001-41212 (company) — SEC File Number
• 6208 Sandpebble Ct. (company) — Business Address
• Dallas, TX (company) — Business Address
• 75254 (company) — Business Address Zip Code

FAQ

Key Financial Figures

• $60,000 — for each monthly extension period from $60,000 (the “Monthly Extension Loan&rdqu
• $40,000 — nsion Loan”) to the lesser of (x) $40,000 and (y) an aggregate amount equal to $0
• $0.03 m — 00 and (y) an aggregate amount equal to $0.03 multiplied by the number of Public Shares
• $10.25 — res for cash at an approximate price of $10.25 per share, for an aggregate of approxim
• $43.35 million — hare, for an aggregate of approximately $43.35 million. On June 9, 2023, the Company held a sp
• $0.0625 — onnection with each such extension from $0.0625 per share sold in our IPO to a flat fee
• $150,000 — share sold in our IPO to a flat fee of $150,000 per extension beginning with the extens
• $10.68 — res for cash at an approximate price of $10.68 per share, for an aggregate of approxim
• $15.05 million — hare, for an aggregate of approximately $15.05 million. On January 8, 2024, the Company held a
• $11.23 — res for cash at an approximate price of $11.23 per share, for an aggregate of approxim
• $31.5 million — hare, for an aggregate of approximately $31.5 million. Accordingly, as of the record date,
• $20,512,675.58 — the Trust Account will be approximately $20,512,675.58 at the time of the Special Meeting. The
• $11.75 — s Common Stock on December 30, 2024 was $11.75. The Company cannot assure stockholders
• $20,200 — ously released to pay taxes (less up to $20,200 of interest to pay dissolution expenses

Filing Documents

• formdef14a.htm (DEF 14A) — 556KB
• 0001493152-24-052609.txt ( ) — 557KB

From the Filing

DEF 14A 1 formdef14a.htm UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Securities Exchange Act of 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to Section 240.14a-12 BROAD CAPITAL ACQUISITION CORP. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. Broad Capital Acquisition Corp. 6208 Sandpebble Ct. Dallas, TX 75254 (469) 951-3088 NOTICE OF SPECIAL MEETING OF STOCKHOLDERS TO BE HELD ON JANUARY 13, 2024 TO THE STOCKHOLDERS OF BROAD CAPITAL ACQUISITION CORP: You are cordially invited to attend the special meeting, which we refer to as the “Special Meeting,” of stockholders of Broad Capital Acquisition Corp., which we refer to as “we,” “us,” “our,” “BRAC” or the “Company,” to be held at 9:30 a.m. Eastern Time on January 13, 2024. The Special Meeting will be a completely virtual meeting of stockholders, which will be conducted via live webcast. You will be able to attend the Special Meeting online, vote and submit your questions during the Special Meeting by visiting https://www.cstproxy.com/broadcapitalacquisition/2025. If you plan to attend the virtual online Special Meeting, you will need your 12-digit control number to vote electronically at the Special Meeting. We are pleased to utilize the virtual stockholder meeting technology to provide ready access and cost savings for our stockholders and the Company. The virtual meeting format allows attendance from any location in the world. Even if you are planning on attending the Special Meeting online, please promptly submit your proxy vote by telephone, or, if you received a printed form of proxy in the mail, by completing, dating, signing and returning the enclosed proxy, so your shares will be represented at the Special Meeting. Instructions on voting your shares are on the proxy materials you received for the Special Meeting. Even if you plan to attend the Special Meeting online, it is strongly recommended you complete and return your proxy card before the Special Meeting date, to ensure that your shares will be represented at the Special Meeting if you are unable to attend. The accompanying proxy statement, which we refer to as the “Proxy Statement,” is dated December 31, 2024, and is first being mailed to stockholders of the Company on or about December 31, 2024. The sole purpose of the Special Meeting is to consider and vote upon the following proposals: a proposal to amend the Company’s amended and restated certificate of incorporation, as further amended on January 11, 2023, June 12, 2023 and January 8, 2024 which we refer to as the “charter,” in the form set forth in Annex A to the accompanying Proxy Statement, which we refer to as the “Extension Amendment” and such proposal the “Extension Amendment Proposal,” to reduce the payment required and extend the date by which the Company must (a) consummate a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination involving the Company and one or more businesses, which we refer to as a “business combination,” or (b) cease its operations if it fails to complete such business combination and redeem or repurchase 100% of the Company’s common stock included as part of the units sold in the Company’s initial public offering that was consummated on January 13, 2022, which we refer to as the “IPO,” from January 13, 2025 (the “Termination Date”) to January 13, 2026 (the “Extended Date”) by way of up to twelve (12) one-month extensions, assuming the procedures relating to any such extension, as set forth in the Trust Agreement, shall have been complied with (the “Extension”), and (ii) reduce the payment required for each monthly extension period from $60,000 (the “Monthly Extension Loan”) to the lesser of (x) $40,000 and (y) an aggregate amount equal to $0.03 multiplied by the number of Public Shares of the Company that are not redeemed in connection with the stockholder vote to approve the Charter Amendment Proposal for each such one-month extension, in each case to be deposited into the Trust Account prior to the then-current deadline to complete an initial business combination (the “Adjusted Monthly Extension Loan”

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