B&R Technology Merger Corp. (BRTMW) Warrant
Each BRTMW warrant gives the holder the right to buy 1 share of B&R Technology Merger Corp. at $11.50 per share, for five years after the company completes its merger. The stock last closed at $9.80, below the strike, so the warrant is out of the money. B&R Technology Merger Corp. has a market value of about $477.65M. B&R Technology Merger Corp. is a SPAC (no deal announced yet). It must complete a deal by July 22, 2028 or the warrants expire worthless. There are 12.00M listed warrants; exercising all of them would add 24.6% to the 48.74M shares outstanding.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- merger + 5 years
- Redemption trigger
- $18.00
- Cashless exercise
- allowed
- Break-even stock price
- $11.81
From the issuer's 424B4 (2026-07-21).
Company and stock
- Company
- B&R Technology Merger Corp.
- Underlying stock
- BRTM
- Share price
- $9.80
- Market cap
- $477.65M
- Shares outstanding
- 48.74M
- Range since Sep 2026
- $9.80 – $9.87
- Change since Sep 2026
- -1%
- Value of all listed warrants
- $3.68M (0.8% of market cap)
- Industry
- Blank check company (SPAC)
- Head office
- Las Vegas, NV
- Incorporated in
- Cayman Islands
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). Industry and head office are as the company reports them to the SEC. All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.3066
- Price / model
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Dilution
- Shares outstanding
- 48.74M
- Listed warrants
- 12.00M
- Dilution if all exercised
- 24.6%
Warrant count from filing notes, read by hand (high): Public Warrants (one-third warrant per Public Unit).
SPAC deal
- Status
- no deal announced yet
- Target
- —
- Deal announced
- —
- Deadline
- 2028-07-22
- Latest possible deadline
- 2028-10-22
- Trust per share
- $10.00
- Sponsor
- B&R Technology Sponsor LLC (Cayman)
- Sponsor's earlier SPACs
- 0 (0 closed a deal)
- Chance of a deal
A SPAC warrant is worth nothing if no deal closes by the deadline.
Filings and events
Questions about BRTMW
When does the BRTMW warrant expire?
Five years after the SPAC completes its merger; if no merger closes by the deadline, the warrants expire worthless.
What is the strike price of BRTMW?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many BRTMW warrants are outstanding?
12.00M listed warrants, equal to 24.6% dilution if all are exercised.
Related warrants
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