Alset EHome International Inc. Closes $30.0 Million Underwritten Public Offering of Common Stock

Rhea-AI Summary

Alset EHome International Inc. (NASDAQ:AEI) has successfully completed an underwritten public offering, raising approximately $30 million through the sale of 18,923,334 shares of common stock at $0.60 per share, along with pre-funded warrants for 31,076,666 shares at $0.599 each. There is a 45-day option for underwriters to purchase additional shares, potentially increasing proceeds to $34.5 million. The offering was made under SEC regulations and is expected to enhance the company's financial resources for further development in various sectors.

Positive

• Raised approximately $30 million in gross proceeds from the public offering.
• Potential to increase total gross proceeds to $34.5 million with the over-allotment option.

Negative

• Shareholder dilution due to the issuance of new shares.
• Market reaction uncertainty related to the successful execution of the offering.

BETHESDA, MD / ACCESSWIRE / December 8, 2021 / Alset EHome International Inc. (NASDAQ:AEI) ("AEI" or the "Company"), a diversified holding company principally engaged through its subsidiaries in the development of EHome communities and other property development, financial services, digital transformation technologies, biohealth activities and consumer products, today announced that it has completed an underwritten public offering ("the Offering") of 18,923,334 shares ("Shares") of common stock, par value $0.001 per share ("Common Stock"), at a price to the public of $0.60 per Share, and pre-funded warrants to purchase 31,076,666 shares of Common Stock at a price of $0.599 per pre-funded warrant. The pre-funded warrants have an exercise price of $0.001 per share.

The Company raised gross proceeds of approximately $30 million from the Offering, before deducting underwriting discounts and commissions and estimated Offering expenses. In addition, the Company granted the underwriters a 45-day option to purchase additional shares of Common Stock, representing up to 15% of the number of the Shares and the shares underlying the pre-funded warrants sold in the base offering, solely to cover over-allotments, if any, which would increase the total gross proceeds of the Offering to approximately $34.5 million, if the over-allotment option is exercised in full.

Aegis Capital Corp. acted as sole book-running manager for the Offering.

The securities described above were offered by Alset EHome International Inc. pursuant to an effective registration statement on Form S-1 (No. 333-261446) previously filed with the U.S. Securities and Exchange Commission (the "SEC") and declared effective by the SEC on December 3, 2021. A final prospectus (the "Prospectus") describing the terms of the Offering has been filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the Prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th floor, New York, NY 10019, by email at syndicate@aegiscap.com, or by telephone at (212) 813-1010.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sales of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Alset EHome International Inc.

Alset EHome International is a diversified holding company executing on its vision to accelerate sustainable healthy living with a focus on the development of EHome communities and other property development, financial services, digital transformation technologies, biohealth activities and consumer products. Through its operating subsidiaries, AEI's mission is to provide a healthy living ecosystem that drives long-term exponential growth, building liquidity and value for shareholders. AEI is led by its chairman and CEO, Heng Fai Chan, a successful global business veteran of more than 40 years specializing in corporate transformation while managing risk. Over his distinguished career, Heng Fai Chan has successfully restructured more than 35 corporations with a combined value of $25 billion.

Forward-Looking Statements

This press release includes statements that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control, and which may cause results to differ materially from expectations. Factors that could cause our results to differ materially from those described include, but are not limited to, exercise of the over-allotment option. For a discussion of the most significant risks and uncertainties associated with the Company's business, please review our filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Investor & Public Relations Contact Info

Dave Gentry, CEO
Phone: 407-491-4498
Email: dave@redchip.com

SOURCE: Alset EHome International Inc.

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https://www.accesswire.com/676552/Alset-EHome-International-Inc-Closes-300-Million-Underwritten-Public-Offering-of-Common-Stock

FAQ

What was the purpose of Alset EHome International's public offering on December 8, 2021?

The offering aimed to raise capital for the company's ongoing development initiatives across its sectors.

How much did Alset EHome International raise in its recent offering?

The company raised approximately $30 million from the sale of common stock and warrants.

What is the stock symbol of Alset EHome International?

The stock symbol for Alset EHome International is AEI.

What are the terms of the pre-funded warrants issued by Alset EHome International?

The pre-funded warrants were priced at $0.599 each, with an exercise price of $0.001 per share.

What impact does the offering have on existing shareholders of AEI?

The public offering could lead to shareholder dilution as new shares are issued.