Alset announced the pricing of an underwritten public offering with gross proceeds to the Company expected to be $3.8M, before deducting underwriting discounts and other estimated expenses payable by the Company. The offering consists of 1,727,273 shares of common stock at a price of $2.20 per share. In addition, the Company has granted Aegis Capital Corp., the underwriter in the offering, a 45-day option to purchase up to an additional 212,863 shares of common stock offered in the offering at the public offering price, less underwriting discounts and commissions. The Company intends to use the net proceeds from this offering for general working capital. The closing of the Offering is expected to occur on February 8, 2023, subject to customary closing conditions. Aegis Capital Corp. is acting as the sole book-running manager for the offering.
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