Alset Capital Acquisition today in an 8-K said it has extended the deadline for stockholders to redeem Class A shares until 5 p.m. Eastern, Dec. 15. Redemption reversals will also be accepted up to the revised deadlines.
Alset shareholders more than four months ago approved merging with HWH International, which offers a membership program with benefits focused around wellness, travel and VR experiences.
Terms of the deal call for Alset to issue $125 million in stock to the combined company.
To-date, the closing conditions have not been met.
As of Oct. 10, there was approximately $21 million remaining in the SPAC’s trust after redemptions since its February 2022 IPO. Read more.
