Alset Capital Acquisition Corp. (NASDAQ:ACAX) announced in an 8-K this morning that its shareholders approved its combination with lifestyle company HWH International at an August 1 special meeting.
It has not yet released its final redemption figures, but went into the vote having already seen 77% redemptions reduce its trust to $20.3 million.
The SPAC supported its remaining trust by signing a forward purchase agreement (FPA) with Meteora Capital Partners on Monday. This would see Meteora buy up to 1,800,000 Alset Capital shares and not redeem them.
This amount would be nearly all of Alset’s outstanding publicly-held shares, however, and Meteora was not required by the agreement to purchase more than 9.9% of the SPAC’s total shares unless it opted to waive this restriction.
Alset its now heading towards its transaction deadline tomorrow, August 3. But, it may automatically extend this by three months to November 3 in exchange for contributing $0.10 per share to its trust. So, it may opt to take more time to iron out the combined company’s final capitalization with shareholder approval secured.
The SPAC inked its business combination with HWH International in September 2022. HWH offers a range of perks via a membership program aimed at wellness, travel and VR experiences across East and Southeast Asia with US offices in Bethesda, Maryland.
Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...
At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...
Solarius Capital Acquisition Corp. (NASDAQ:SOCAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SOCAU”, Wednesday, July 16, 2025. The new SPAC plans to combine with a target in the asset management, wealth management or financial services industries. Solarius Capital’s management team...