Alset Capital Acquisition Corp. (ACAXU) Prices $75M IPO


Alset Capital Acquisition Corp. (ACAXU) Prices $75M IPO

Jan 31, 2022 IPOs by Marlena Haddad

Alset Capital Acquisition Corp. announced the pricing of its $75 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ACAXU” Tuesday, February 1.

The new SPAC intends to focus its search on 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. Alset Capital is led by Chairman and CEO Heng Fai Ambrose Chan, and CFO Rongguo Wei.

Total SPAC deal count for 2022 year-to-date is now 25. This offering is expected to close on Thursday, February 3.

EF Hutton, division of Benchmark Investments, LLC, is acting as the sole book running manager for the offering. Sichenzia Ross Ference LLP is serving as Issuer’s Counsel with Ortoli Rosenstadt LLP serving as Underwriter’s Counsel. MaloneBailey, LLP serves as auditor. Wilmington Trust Company is acting as trustee.