Alset EHome International Inc. Closes $32.0 Million Underwritten Public Offering of Units

Rhea-AI Summary

Alset EHome International Inc. (NASDAQ:AEI) has successfully completed an underwritten public offering, raising approximately $32 million. The offering consisted of 4,700,637 common units priced at $5.07 each and 1,611,000 pre-funded units at $5.06. Each common unit includes a share of common stock and two types of warrants. Aegis Capital Corp. managed the offering. Funds raised will potentially support the company’s diverse operations in property development, digital transformation technology, and biohealth activities.

Positive

• Raised approximately $32 million in gross proceeds from the offering.
• Funds aimed to support diverse business operations including property development and digital transformation.

Negative

• Potential dilution of shares due to the issuance of new common units and warrants.

BETHESDA, MD / ACCESSWIRE / May 13, 2021 / Alset EHome International Inc. (NASDAQ:AEI) (the "Company"), a diversified holding company principally engaged through its subsidiaries in property development, digital transformation technology and biohealth activities, today announced that it has completed an underwritten public offering (the "Offering") of 4,700,637 common units (the "Common Units"), at a price to the public of $5.07 per Common Unit and 1,611,000 pre-funded units (the "Pre-funded Units"), at a public offering price of $5.06 per Pre-funded Unit. Each Common Unit consists of (a) one share of common stock, par value $0.001 per share (the "Common Stock"), (b) one Series A warrant (the "Series A Warrant") to purchase one share of Common Stock with an initial exercise price of $5.07 per whole share and (c) one Series B warrant (the "Series B Warrant") to purchase one-half of a share of Common Stock with an initial exercise price of $6.59 per whole share. Each Pre-funded Unit consists of (a) one Pre-funded warrant to purchase one share of Common Stock with an exercise price of $0.01 per whole share, (b) one Series A Warrant and (c) one Series B Warrant. The Series A Warrants and the Series B Warrants are exercisable immediately upon issuance and will expire on the fifth anniversary of the original issuance date.

The Company raised gross proceeds of approximately $32.0 million, before deducting underwriting discounts and commissions and Offering expenses. The gross proceeds include the proceeds from the partial exercise of the underwriter's over-allotment option to purchase (i) 808,363 additional Series A Warrants at a purchase price of $0.01 per Series A Warrant and (ii) 808,363 additional Series B Warrants at a purchase price of $0.01 per Series B Warrant.

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

The securities described above were offered by the Company pursuant to an effective registration statement on Form S-1 (No. 333-255757) previously filed with the U.S. Securities and Exchange Commission (the "SEC") on May 4, 2021 and declared effective by the SEC on May 10, 2021. A final prospectus (the "Prospectus") as amended, describing the terms of the Offering, has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Electronic copies of the Prospectus may be obtained 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 units, nor shall there be any sales of the units 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.

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, risks and uncertainties associated with market conditions. 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.

About Alset EHome International Inc.
Alset EHome International Inc. is a diversified holding company principally engaged through its subsidiaries in EHome development and digital transformation technology with operations in the United States, Singapore, Hong Kong, Australia and South Korea. The Company's vision is to accelerate sustainable healthy living. The Company's mission is to provide a healthy living ecosystem, encompassing housing, transport, energy, healthy food and health products.

For more information, please visit: www.alsetehomeintl.com.

Investor Contact:
Dave Gentry, CEO
RedChip Companies Inc.
407-491-4498
Dave@redchip.com

SOURCE: Alset EHome International Inc.

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FAQ

What is the amount raised by Alset EHome International in its recent public offering?

Alset EHome International raised approximately $32 million in its recent public offering.

What types of units were offered in Alset EHome International's public offering?

The offering included 4,700,637 common units and 1,611,000 pre-funded units.

Who managed the public offering for Alset EHome International?

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

What are the exercise prices of the warrants included in the common units?

The Series A Warrant has an exercise price of $5.07, while the Series B Warrant has an exercise price of $6.59.

When will the newly issued warrants expire?

The Series A and Series B Warrants will expire on the fifth anniversary of their original issuance date.