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By Renaissance Capital,

Alset Capital Acquisition, a blank check company backed by Alset EHome International targeting real estate, filed on Thursday with the SEC to raise up to $75 million in an initial public offering.
The Bethesda, MD-based company plans to raise $75 million by offering 7.5 million units at $10. Each unit consists of one share of common stock, one right to received one-tenth of a share upon the completion of an initial business combination, and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Alset Capital Acquisition would command a market value of $98 million.

The company is led by CEO and Chairman Heng Fai Ambrose Chan, the founder and CEO of diversified holding company Alset EHome International (Nasdaq: AEI). The company plans to target the real estate industry, including construction, homebuilding, real estate owners and operators, arrangers of financing, insurance, and other services for real estate, as well as proptech businesses.

Alset Capital Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol ACAXU. The company filed confidentially on December 20, 2021. EF Hutton is the sole bookrunner on the deal.

Source : preiposwap.com/real-estate-spac-alset-ca...for-a-75-million-ipo

BETHESDA, MD / ACCESSWIRE / January 31, 2022 / Alset Capital Acquisition Corp. (the “Company”) announced today that it priced its initial public offering of $75,000,000, consisting of 7,500,000 units at $10.00 per unit. The units are expected to be listed on the Nasdaq Global Market (“Nasdaq”) and trade under the ticker symbol “ACAXU” beginning tomorrow, Tuesday, February 1, 2022. Each unit consists of one of the Company’s shares of Class A common stock, one-half of one redeemable warrant, and one right to receive one-tenth (1/10) of one share of Class A common stock upon the consummation of an initial business combination. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the shares of Class A common stock, warrants and rights are expected to be listed on Nasdaq under the symbols “ACAX,” “ACAXW” and “ACAXR,” respectively.

The Company is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus on identifying 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, which may be referred to as “Proptech” businesses.

EF Hutton, division of Benchmark Investments, LLC, is acting as the sole book running manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 1,125,000 units at the initial public offering price to cover over-allotments, if any.