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Alset Inc (NASDAQ:AEI) shares are trading lower by 32.30% to $2.10 Monday morning after the company announced a $3.8 million public offering of common stock.
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Alset says the offering consists of 1,727,273 shares of common stock at a price of $2.20 per share. In addition, the company has granted Aegis Capital Corp., the underwriter in the offering, a 45-day option to purchase up to an additional 212,863 shares of common stock offered in the offering at the public offering price, less underwriting discounts and commissions.
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Alset says the company intends to use the net proceeds from this offering for general working capital. The closing of the offering is expected to occur on February 8, 2023, subject to customary closing conditions.
According to data from Benzinga Pro, AEI has a 52-week high of $18.57 and a 52-week low of $2.04.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.