Alset Capital Acquisition in a proxy filing seeks shareholder approval to stretch its completion deadline from Nov. 3 to Feb. 3, 2024. That would mark 24 months since the SPAC originally raised approximately $87 million in its IPO.
A vote is scheduled for Nov. 2.
Alset shareholders nearly three 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, according to the proxy. Read more.
