Alset Capital Acquisition in an 8-K said it signed a forward purchase agreement with Meteora funds that have agreed to buy up to 9.9% of the SPAC’s Class A stock.
The purchase would following the closing of Alset’s busines combination with HWH Int’l, a lifestyle company. Alset shareholders are expected to vote on the merger tomorrow.
As announced in September, terms with HWH call for the SPAC’s stockholders to receive one common share of HWH for every 10 of ACAX’s rights and ACAX’s warrants will become exercisable for HWH’s common shares at $11.50 per share.
The SPAC raised $75 million in a February 2022 IPO. Read more.
