Alset Capital Acquisition filed to offer 7.5 million units at $10 each, with each unit consisting of one share, one-half of a warrant and one right. Each right is good for one-tenth of a share.
The new SPAC intends to focus on businesses in the real estate industry, including construction, homebuilding, real estate owners and operators, arrangers of financing, insurance, and other services for real estate, and adjacent businesses and technologies targeting the real estate space. Alset will not consider companies operating in China, including Hong Kong and Macau.
CEO Heng Fai Ambrose Chan is the founder, chairman and CEO of Alset EHome International.
E.F. Hutton is sole book-running manager.
The SPAC plans to apply for a listing on the Nasdaq under the symbol ACAXU. Read more.
