Alset Capital Acquisition today announced the completion of its business combination with HWH International.
The acquisition is “a purpose-driven lifestyle company encompassing differentiated offerings from four core pillars: HWH Marketplace, Hapi Cafe, Hapi Travel Destination and Hapi Wealth Builder,” according to the announcement.
Shares are expected to begin trading tomorrow on the Nasdaq under new ticker symbol HWH.
The deal was approved by Alset’s stockholders in August last year. The SPAC worked for months to satisfy the closing conditions. Original terms at announcement in September 2022 called for Alset to issue $125 million in stock to the combined company.
As of Oct. 10, there was approximately $21 million remaining in the Alset trust after redemptions since its February 2022 IPO. Read more.
