Black Ridge Acquisition Corp. (BRAC) Releases Extension Vote Info

This afternoon, Black Ridge Acquisition Corp. (BRAC), released the details of their shareholder vote to approve their new extension deadline from July 10th to August 10th.

Per the 8-K, 9,246,727 shares of the Company’s common stock elected to redeem at a per-share price of $10.29. As a result, $95,148,821 was removed from trust, leaving ~$46.9 million with 4,553,273 shares outstanding.

Additionally, BRAC previously agreed to contribute $30,000 to the trust account for shares not converted in the extension vote.  However, given that there are still 4.6 million public shares outstanding, the contribution will only be $0.00658867, a fraction of a penny.  The good news is, investors who opted not to redeem will only have to wait 13 more days until Black Ridge and Allied Esports have their shareholder vote to combine.  That vote is currently scheduled for July 22, 2019.

You can read the results HERE and a summary of the vote is provided below: