Alset Inc. Announces $1.5 Million Registered Direct Offering Priced at the Market Under Nasdaq Rules

Core Viewpoint - Alset Inc. has announced a registered direct offering with institutional investors for approximately $1.5 million in common stock and pre-funded warrants at a price of $1.00 per share, aiming to utilize the proceeds for general corporate purposes and working capital [1][3]. Group 1: Offering Details - The offering includes the sale of 1,500,000 shares of common stock or pre-funded warrants, priced at $1.00 per share for common stock and $0.999 for each pre-funded warrant [2]. - Pre-funded warrants are immediately exercisable and can be exercised at any time until fully exercised, with a one-for-one decrease in the number of common stock shares offered for each pre-funded warrant sold [2]. Group 2: Financial Proceeds and Use - The aggregate gross proceeds from the offering are expected to be approximately $1.5 million, with the transaction anticipated to close on or about January 3, 2025, pending customary closing conditions [3]. - The net proceeds from the offering, along with existing cash, will be used for general corporate purposes and working capital [3]. Group 3: Legal and Regulatory Aspects - Aegis Capital Corp. is acting as the exclusive placement agent for the offering, while Sichenzia Ross Ference Carmel LLP and Kaufman & Canoles, P.C. are serving as U.S. counsel for the company and Aegis Capital Corp., respectively [4]. - The offering is made under an effective shelf registration statement previously filed with the SEC, with a final prospectus supplement to be filed and available on the SEC's website [5].