Chan Heng Fai Ambrose - Aug 2, 2023 Form 4 Insider Report for Alset Capital Acquisition Corp. (ACAX)

Signature
/s/ Chan Heng Fai Ambrose
Stock symbol
ACAX
Transactions as of
Aug 2, 2023
Transactions value $
$212,381
Form type
4
Date filed
8/3/2023, 12:34 PM
Previous filing
Jun 30, 2023
Next filing
Aug 7, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ACAX Class A Common Stock Purchase $161K +25K +5.28% $6.42 499K Aug 2, 2023 See Footnote F1, F3, F4
transaction ACAX Class A Common Stock Purchase $51.9K +7.52K +1.51% $6.90 506K Aug 2, 2023 See Footnote F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On August 2, 2023, Alset Inc. acquired 25,000 shares of the Issuer's Class A Common Stock. This transaction was executed in multiple trades at prices ranging from $4.75 to $7.615. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.
F2 On August 2, 2023, Alset Inc. acquired 7,519 shares of the Issuer's Class A Common Stock. This transaction was executed in multiple trades at prices ranging from $4.68 to $8.02. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.
F3 In addition to the 32,519 shares of common stock held by Alset Inc., over which Mr. Chan may be deemed to possess indirect beneficial ownership as the Chief Executive Officer and Chairman of Alset Inc., Alset Acquisition Sponsor, LLC (the "Sponsor") beneficially owns 473,750 shares of the Issuer's Class A Common Stock. As Chief Executive Officer of the sole member of the Sponsor, and as the Chief Executive Officer and control person of the entities which own the Sponsor's sole member, Mr. Chan may be deemed to possess beneficial ownership of the securities held of record by the Sponsor, and therefore beneficially owns 506,269 shares of the Class A Common Stock of Alset Capital Acquisition Corp. Mr. Chan disclaims any such beneficial ownership except to the extent of his pecuniary interest.
F4 In addition to the Class A Common Stock described above, the Sponsor also owns 2,156,250 shares of Class B Common Stock, which will automatically convert into shares of Class A Common Stock upon the completion of the Issuer's initial business combination on a one-for-one basis, subject to certain adjustments.