Rongrong Jiang - Jan 11, 2022 Form 3 Insider Report for Broad Capital Acquisition Corp (BRAC)

Role: Chief Financial Officer, Director
Signature: /s/ Rongrong Jiang
Stock symbol: BRAC
Transactions as of: Jan 11, 2022
Transactions value $: $0
Form type: 3
Date filed: 1/11/2022, 03:36 PM

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	BRAC	Ordinary Shares							Jan 11, 2022	Ordinary Shares	2.8M		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The insiders have agreed not to transfer, assign or sell any of the Common Stock (except to certain permitted transferees as disclosed in the registration statement on Form S-1 (File No. 333-258943)) until, with respect to 50% of the insider shares, the earlier of six months after the date of the consummation of our initial business combination and the date on which the closing price of our common stock equals or exceeds $12.50 per share for any 20 trading days within a 30-trading day period following the consummation of our initial business combination and, with respect to the remaining 50% of the insider shares, six months after the date of the consummation of our initial business combination, or earlier in each case if, subsequent to our initial business combination, we complete a liquidation, merger, stock exchange or other similar transaction which results in all of our stockholders having the right to exchange their shares of common stock for cash, securities or other property.
F2	As described in the registration statement on Form S-1 (File No. 333-258943), Broad Capital LLC (the "Sponsor") is the record holder of the shares reported herein. The Sponsor is managed by its co-managing members, Johann Tse and Rongrong (Rita) Jiang.

Content

The insiders have agreed not to transfer, assign or sell any of the Common Stock (except to certain permitted transferees as disclosed in the registration statement on Form S-1 (File No. 333-258943)) until, with respect to 50% of the insider shares, the earlier of six months after the date of the consummation of our initial business combination and the date on which the closing price of our common stock equals or exceeds $12.50 per share for any 20 trading days within a 30-trading day period following the consummation of our initial business combination and, with respect to the remaining 50% of the insider shares, six months after the date of the consummation of our initial business combination, or earlier in each case if, subsequent to our initial business combination, we complete a liquidation, merger, stock exchange or other similar transaction which results in all of our stockholders having the right to exchange their shares of common stock for cash, securities or other property.

As described in the registration statement on Form S-1 (File No. 333-258943), Broad Capital LLC (the "Sponsor") is the record holder of the shares reported herein. The Sponsor is managed by its co-managing members, Johann Tse and Rongrong (Rita) Jiang.

Remarks:

Chief Financial Officer