Business
Alset EHome International Inc. Prices $32.0 Million Underwritten Public Offering of Units
BETHESDA, MD / ACCESSWIRE / May 10, 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 10, 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 the pricing of an underwritten public offering (the \"Offering\") of 4,700,637 Units (the \"Common Units\"), at a price to the public of $5.07 per Common Unit, with each Common Unit consisting of (a) one share of common stock, par value $0.001 per share (the \"Common Stock\"), (b) one 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 to purchase one-half of a share of Common Stock with an initial exercise price of $6.59 per whole share. The Series A Warrants and Series B Warrants will be exercisable immediately upon issuance and will expire on the fifth anniversary of the original issuance date. The Offering also consists of 1,611,000 pre-funded units (the \"Pre-Funded Units\"), at a public offering price of $5.06, with each Pre-funded Unit consisting of (a) one Pre-funded Warrant, (b) one Series A warrant and (c) one Series B warrant. The Pre-Funded Warrants have an exercise price of $0.01 per share. The gross proceeds from the Offering, before deducting underwriting discounts and commissions and estimated Offering expenses, are expected to be approximately $32.0 million. In addition, the Company has granted the underwriters a 45-day option to purchase additional shares of Common Stock and/or Pre-funded Warrants, representing up to 15% of the Common Stock and Pre-funded Warrants sold in the Offering and/or additional Series A and Series B Warrants, representing up to 15% of the Series A and Series B Warrants sold in the base offering, solely to cover over-allotments, if any, which would increase the total gross proceeds of the Offering to approximately $36.1 million, if the over-allotment option is exercised in full.The Offering is expected to close on May 13, 2021, subject to the satisfaction of customary closing conditions.Aegis Capital Corp. is acting as sole book-running manager for the Offering.The securities described above were offered by Alset EHome International Inc. pursuant to an effective registration statement on Form S-1 (No. 333-255757) previously ...