Business
Alset Inc. Prices $3.8 Million Underwritten Public Offering of Common Stock
BETHESDA, MD / ACCESSWIRE / February 6, 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 6, 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, today announced the pricing of an underwritten public offering with gross proceeds to the Company expected to be $3.8 million, before deducting underwriting discounts and other estimated expenses payable by the Company. The offering consists of 1,727,273 shares of common stock (the \"Offering\") at a price of $2.20 per share. In addition, the Company has granted Aegis Capital Corp., the underwriter in the offering, a 45-day option to purchase up to an additional 212,863 shares of common stock offered in the offering at the public offering price, less underwriting discounts and commissions. The Company intends to use the net proceeds from this offering for general working capital.The closing of the Offering is expected to occur on February 8, 2023, subject to customary closing conditions.Aegis Capital Corp. is acting as the sole book-running manager for the offering.This offering is being 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. The offering will be made only by means of a prospectus supplement and accompanying prospectus that form a part of the shelf registration statement. A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, 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. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospec...