Raheel, I think you are on the right track in searching for the specific spectrum of these lights. You want to make sure you have the different spectrums that corals need. I don't recall seeing a post where people tried to make sure they had reds, different wavelengths of blues, greens, cyans and a supplemental UV
Floods are nothing more than clustered LEDs like this:
so you have to make sure you got more than just one spectrum type in there.
I would suggest that the D120 lights are awefully cheap and comparable to floods in total price. These lights are 120 watts so that's a lot of LEDs in there, equivalent to 6 flood lights. Many of them come with LEDs of multiple spectrums and not just the whites and royal blues.
If you are focused on the flood route let us know how it goes. I myself am thinking DIY at this point for nanos. (currently uses PAR38s).