Business
Alset Inc. Closes $3.8 Million Underwritten Public Offering of Common Stock
BETHESDA, MD / ACCESSWIRE / February 8, 2023 / Alset Inc. (NASDAQ:AEI) (the "Company" or "AEI"), a diversified company engaged through its subsidiaries in the
About this update from Alset Inc.
[{"type":"text","content":"BETHESDA, MD / ACCESSWIRE / February 8, 2023 / Alset Inc. (NASDAQ:AEI) (the \"Company\" or \"AEI\"), a diversified company engaged through its subsidiaries in the development of EHome communities and other real estate, financial services, digital transformation technologies, biohealth activities and consumer products with operations in the United States, Singapore, Hong Kong and South Korea, announced the closing of an underwritten public offering with gross proceeds to the Company of approximately $3.8 million, before deducting underwriting discounts and other estimated expenses payable by the Company. The offering consisted of 1,727,273 shares of common stock at a price of $2.20 per share. The Company intends to use the net proceeds from this offering for general working capital. Mr. Chan Heng Fai, the Chairman of the Company's Board of Directors, purchased $1.2 million of shares in the offering.Aegis Capital Corp. acted as the sole book-running manager for the offering.This offering was made pursuant to an effective shelf registration statement on Form S-3 (No. 333-264234) previously filed with the U.S. Securities and Exchange Commission (the \"SEC\") and declared effective by the SEC on May 5, 2022. A final prospectus supplement and accompanying prospectus (collectively, the \"Prospectus\") describing the terms of the proposed offering was filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Electronic copies of the Prospectus may be obtained by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at [email protected], or by telephone at (212) 813-1010.This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sales of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About Alset Inc.AEI is a diversified company executing on its vision to accelerate sustainable healthy living with a focus on the development of EHome communities and other property development, financial services, digital transformation technologies, biohealth activities and consumer products. Through its operating ...