Alset Capital Acquisition Corp. Provides Update Regarding Stockholder Redemptions; The Redemption Price As Of July 28, 2023 Was ~$10.50
Portfolio Pulse from Happy Mohamed
Alset Capital Acquisition Corp. (NASDAQ:ACAX) has provided an update on stockholder redemptions. As of July 28, 2023, public stockholders holding 1,934,749 shares out of a total of 1,976,036 shares of Class A common stock have submitted requests to redeem their shares for a pro rata portion of the trust account holding the proceeds from Alset's initial public offering. The redemption price was approximately $10.50. Alset will be accepting requests to withdraw previously submitted redemption requests until August 7, 2023.
August 04, 2023 | 3:31 pm
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Alset Capital's stockholders have submitted requests to redeem their shares, which could potentially lead to a decrease in the number of shares in circulation. The redemption price is $10.50, and stockholders can withdraw their redemption requests until August 7, 2023.
The news of a large number of stockholders submitting redemption requests could potentially lead to a decrease in the number of shares in circulation, which could impact the stock price. The ability for stockholders to withdraw their redemption requests adds an element of uncertainty to the situation.
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