Alset Capital Acquisition Corp. (ACAX) Postpones Completion Vote
by Marlena Haddad on 2023-07-21 at 5:22pm

Alset Capital Acquisition Corp. (Nasdaq: ACAX) announced this afternoon that it has postponed its completion vote from July 25 until 9:00 a.m. ET on August 1.

As a result of this change, Alset has extended the redemption deadline to 5:00 p.m. ET on July 28.

At the meeting, ACAX stockholders will be asked to vote on the SPAC’s business combination with lifestyle company HWH International. Alset Capital initially brought $86.3 million into the deal through its trust and did not supplement this with a PIPE. But, the SPAC saw 77% of its trust removed due to redemptions during a meeting held in May, leaving it with $20.3 million post-vote.

Alset Capital is to acquire HWH for a total consideration of $125 million in ordinary Alset shares and must maintain at least $30 million in cash available in order for the deal to close.

The SPAC originally inked the deal with HWH in September 2022. Bethesda, Maryland-based HWH offers a range of perks via a membership program aimed at wellness, travel and VR experiences.

Recent Posts
by Kristi Marvin on 2023-12-09 at 11:45am

Terms Tracker for the Week Ending December 8, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Well that escalated quickly. While last week was quiet, this week was far busier. SPACs saw one IPO start trading after pricing on Friday of...

by Marlena Haddad on 2023-12-08 at 1:59pm

Mobiv Acquisition Corp. (NASDAQ:MOBV) announced this afternoon that it has closed its combination with EV motorcycle-maker SRIVARU. Shareholders originally approved the deal at a special meeting held back on September 28, but at that time, the parties expected the transaction to take just a week to close. Redemptions whittled Mobiv’s IPO share pool of 10,005,000 down...

by Nicholas Alan Clayton on 2023-12-08 at 11:12am

Achari Ventures I (NASDAQ:AVHI) has entered into a definitive agreement to combine with medtech firm Vaso Corporation at an equity value of $176 million, or 19.5x its 2022 adjusted EBITDA. Wuxi, China-based Vaso provides IT services and sales support to medical device manufacturers. The combined company is expected to trade on the Nasdaq under the...

by Marlena Haddad on 2023-12-08 at 10:27am

EF Hutton Acquisition Corp. I (NASDAQ:EFHT) announced this morning that its shareholders have approved its business combination with E.C.D. Auto Design. At the meeting, there were 5,089,203 shares of common stock, representing approximately 76.82% of the issued and outstanding shares of common stock, present. In connection with the meeting, the company’s stockholders holding 3,470,945 shares,...

by Marlena Haddad on 2023-12-08 at 9:42am

Legato Merger Corp. III (NYSE:LEGT) filed for a $175 million IPO yesterday afternoon, becoming the fourth SPAC to file this week. While the other three SPACs that filed their S-1s earlier this week intend to pursue targets in the financial services and biotech industries, Legato III, similar to the earlier Legato SPACs, will focus on...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved