HWH International Inc. - Common Stock (HWH)

BETHESDA, Md., Jan. 07, 2025 (GLOBE NEWSWIRE) -- HWH International Inc. (the “Company”) (NASDAQ: HWH), a purpose-driven lifestyle company, today announced the closing of its public offering (the “Offering”) with aggregate gross proceeds to the Company of $1,764,900, prior to deducting fees and other expenses payable by the Company. The Offering consisted of 3,412,500 shares of common stock and 1,000,000 pre-funded warrants to purchase 1,000,000 shares of common stock. Each share of common stock (or pre-funded warrant in lieu thereof) was sold at a purchase price of $0.40 per share (or $0.3999 per pre-funded warrant after reducing $0.0001 attributable to the exercise price of the pre-funded warrants).

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HWH International (NASDAQ: HWH), a purpose-driven lifestyle company, and Alset Capital Acquisition Corp. (NASDAQ: ACAXU) , a special purpose acquisition company formed for the purpose of entering a merger, capital stock exchange, asset acquisition or stock purchase, have completed a business combination. The common stock of the combined company was expected to begin trading on the NASDAQ market using the ticker symbol HWH on Jan. 9, 2024. HWH International Inc. provides an offering based on four core pillars: HWH Marketplace, Hapi Cafe, Hapi Travel Destination and Hapi Wealth Builder. The transaction was approved in August 2023 by Alset stockholders. Alset began trading on NASDAQ in February 2022. Following the business combination, Alset Class A common stock and rights stopped trading. “The business combination and related listing of HWH’s common stock are anticipated to allow HWH to continue its growth momentum in the rapidly growing gig economy,” stated the press release.