Yakira Capital Management, Inc. - Jan 9, 2024 Form 4 Insider Report for Alset Capital Acquisition Corp. (ACAX)

Role: Former 10% Owner
Signature: /s/ Nicholas Sabatini, CFO & CCO
Stock symbol: ACAX
Transactions as of: Jan 9, 2024
Transactions value $: -$2,977,423
Form type: 4
Date filed: 1/10/2024, 06:42 PM
Previous filing: Dec 27, 2023
Next filing: Jan 17, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ACAX	Class A Common Stock	Other	-$2.98M	-279K	-100%	$10.66	0	Jan 9, 2024	See Footnote	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Yakira Capital Management, Inc. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	The Class A Common Stock were disposed of as a result of Yakira Capital Management, Inc., a Delaware corporation (the "Reporting Person"), exercising its right to redeem such shares upon consummation of the business combination.
F2	Reporting Person serves as investment advisors to each of (i) Yakira Partners, L.P., a Delaware limited partnership ("Yakira Partners"), (ii) Yakira Enhanced Offshore Fund Ltd., a Cayman Islands exempted company ("Yakira Offshore") and (iii) MAP 136 Segregated Portfolio, a Cayman Islands exempted company ("MAP 136") and has sole voting and investment discretion with respects to the securities reported herein which are held by Yakira Partners, Yakira Offshore and MAP 136. The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that Reporting Person is the beneficial owner of the securities reported herein for the purpose of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose, except to the extent of Reporting Person's pecuniary interest therein.

Content

The Class A Common Stock were disposed of as a result of Yakira Capital Management, Inc., a Delaware corporation (the "Reporting Person"), exercising its right to redeem such shares upon consummation of the business combination.

Reporting Person serves as investment advisors to each of (i) Yakira Partners, L.P., a Delaware limited partnership ("Yakira Partners"), (ii) Yakira Enhanced Offshore Fund Ltd., a Cayman Islands exempted company ("Yakira Offshore") and (iii) MAP 136 Segregated Portfolio, a Cayman Islands exempted company ("MAP 136") and has sole voting and investment discretion with respects to the securities reported herein which are held by Yakira Partners, Yakira Offshore and MAP 136. The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that Reporting Person is the beneficial owner of the securities reported herein for the purpose of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose, except to the extent of Reporting Person's pecuniary interest therein.

Remarks:

The Reporting Person ceased to be a 10% owner effective January 9, 2024. As a result, the Reporting Person is no longer subject to Section 16 in connection with its transactions in the equity securities of the Issuer and therefore will no longer report any such transactions on Form 4 or Form 5.