Alset Capital Acquisition Corp.
ACAX
NASDAQ Global Market3.82
USD
-6.58
- -
CIK
0001897245
ISIN
US02115M1099
CUSIP
02115M109
Return %
Stock
S&P500
1Y
-62.48
18.21
3Y
-61.06
64.38
5Y
-61.06
72.43
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Fai Heng Chan
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 4800 Montgomery Lane Bethesda MD United States of America 20814
- IPO Date
- Mar 24, 2022
- CIK
- 0001897245
- Similar Companies
- Business
- Alset Capital Acquisition Corp. (ACAX) operates as a blank check company, or special purpose acquisition company (SPAC), with no significant current operations other than pursuing a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more target businesses. Incorporated in 2021 and headquartered in Bethesda, Maryland, the company initially targeted opportunities in the real estate sector, including construction, homebuilding, real estate ownership and operations, financing arrangements, insurance and related services, and proptech businesses. Its securities, including Class A common stock (ACAX), warrants (ACAXW), rights (ACAXR), and units (ACAXU), were listed on the Nasdaq Global Market following its initial public offering in February 2022, which raised approximately $86.25 million. In a major development, Alset Capital Acquisition Corp. completed a reverse merger business combination with HWH International Inc. on January 8, 2024, after shareholder approval on August 1, 2023, and multiple deadline extensions through February 2024. Under the terms, HWH International Inc., a lifestyle company offering services through its HWH Marketplace, Hapi Cafe, Hapi Travel Destination, and Hapi Wealth Builder pillars focused on health, wealth, and happiness in the gig economy, became the surviving entity; Alset's Class A common stock and rights ceased trading, with the combined company listing its common stock under the ticker "HWH" on Nasdaq starting January 9, 2024. The transaction faced high redemptions of 99.52% of the trust, leaving approximately $400,000 in post-merger cash. Post-merger, ACAX securities have faced delisting risks and reduced trading activity, with some sources marking the company as potentially delisted while units (ACAXU) continue limited trading as of late 2025. The company, led by CEO Heng Fai Ambrose Chan, maintains its focus on value creation through strategic combinations, primarily serving public market investors seeking exposure to merger targets in real estate and adjacent industries across the United States. No further acquisitions, funding rounds, or product launches have been reported for Alset Capital Acquisition Corp. since the HWH merger.
HWH International together with Alset Capital Acquisition Corp. Announce Closing of Business Combination
Alset Capital Acquisition Corp. Provides Additional Update Regarding Stockholder Redemptions
Alset Capital Acquisition Corp. Provides Additional Update Regarding Stockholder Redemptions
Alset Capital Acquisition Corp. Provides Additional Update Regarding Stockholder Redemptions
Alset Capital Acquisition Corp. Provides Update Regarding Stockholder Redemptions
Alset Capital Acquisition Corp. Announces Update of Target's Membership Program
Alset Capital Acquisition Corp. Announces Update of Target's F&B Business
ALSET CAPITAL ACQUISITION CORP. ANNOUNCES POSTPONEMENT OF SPECIAL MEETING OF STOCKHOLDERS