Business
Alset EHome International Inc. Closes $32.0 Million Underwritten Public Offering of Units
BETHESDA, MD / ACCESSWIRE / May 13, 2021 / Alset EHome International Inc. (NASDAQ:AEI) (the "Company"), a diversified holding company principally engaged
About this update from Alset Inc.
[{"type":"text","content":"BETHESDA, MD / ACCESSWIRE / May 13, 2021 / Alset EHome International Inc. (NASDAQ:AEI) (the \"Company\"), a diversified holding company principally engaged through its subsidiaries in property development, digital transformation technology and biohealth activities, today announced that it has completed an underwritten public offering (the \"Offering\") of 4,700,637 common units (the \"Common Units\"), at a price to the public of $5.07 per Common Unit and 1,611,000 pre-funded units (the \"Pre-funded Units\"), at a public offering price of $5.06 per Pre-funded Unit. Each Common Unit consists of (a) one share of common stock, par value $0.001 per share (the \"Common Stock\"), (b) one Series A warrant (the \"Series A Warrant\") to purchase one share of Common Stock with an initial exercise price of $5.07 per whole share and (c) one Series B warrant (the \"Series B Warrant\") to purchase one-half of a share of Common Stock with an initial exercise price of $6.59 per whole share. Each Pre-funded Unit consists of (a) one Pre-funded warrant to purchase one share of Common Stock with an exercise price of $0.01 per whole share, (b) one Series A Warrant and (c) one Series B Warrant. The Series A Warrants and the Series B Warrants are exercisable immediately upon issuance and will expire on the fifth anniversary of the original issuance date.The Company raised gross proceeds of approximately $32.0 million, before deducting underwriting discounts and commissions and Offering expenses. The gross proceeds include the proceeds from the partial exercise of the underwriter's over-allotment option to purchase (i) 808,363 additional Series A Warrants at a purchase price of $0.01 per Series A Warrant and (ii) 808,363 additional Series B Warrants at a purchase price of $0.01 per Series B Warrant.Aegis Capital Corp. acted as sole book-running manager for the Offering.The securities described above were offered by the Company pursuant to an effective registration statement on Form S-1 (No. 333-255757) previously filed with the U.S. Securities and Exchange Commission (the \"SEC\") on May 4, 2021 and declared effective by the SEC on May 10, 2021. A final prospectus (the \"Prospectus\") as amended, describing the terms of the Offering, has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Electronic copies of the...