Alset Capital Acquisition said tomorrow's shareholder meeting has been postponed to Aug. 1 at 9 a.m. Eastern. As a result, the redemption deadline has been pushed back to July 28 at 5 p.m.
Shareholders are expected to vote on the proposed merger with HWH International.
As announced in September, terms with HWH call for the SPAC's stockholders to receive one common share of HWH for every 10 of ACAX's rights and ACAX's warrants will become exercisable for HWH's common shares at $11.50 per share.
The SPAC raised $75 million in a February 2022 ipo.
HWH operates a membership model where individuals pay an upfront membership fee and receive discounted access to products and services offered by its affiliates. The company says it “operates a purpose-driven business model that helps individuals develop new pathways in their pursuit of Health, Wealth, and Happiness.” Read more.