Alset International Limited. (SG:40V) has released an update.
Alset International Limited has announced that its subsidiary, HWH International Inc., is planning a fundraising initiative by filing a Preliminary Registration Statement on Form S-1 with the aim to raise approximately $3.5 million through the sale of new shares or pre-funded warrants. The offering, underwritten by EF Hutton LLC, could potentially decrease Alset’s ownership in HWH from 78.7% to 64.2%, although specific details will be finalized after negotiations. The funds raised, estimated at $3.2 million net or $3.7 million if over-allotment options are fully exercised, are expected to increase the Group’s net asset value.
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