Alset EHome International Inc. (NASDAQ:AEI) Stock Extends Fall: Down 30% in a Week

Alset EHome International Inc. (NASDAQ:AEI) fell 11% and down 30% for the week after the company announced pricing f a public offering in which the company plans to issue 6.434 million common shares par value $0.001 at a public offering price of $2.12 for each share. Similarly, the offering included pre-funded warrants to buy 8.66 million common stock shares at $2.11 for each pre-funded warrant. Notably, the exercise price of these pre-funded warrants is $0.01 per share.

As a result, the company expects gross proceeds of around $32 million before subtracting commissions and underwriting discounts. In addition, underwriters have a 45-day option to buy additional common stock shares representing around 15% of the shares offered.

The company and Puradigm LLC have signed a Sales of Goods Agreement to acquire patented and innovative surface and air purification solutions to be integrated into its eco-friendly EHomes. The patented Puradigm purification tech produced Non-Thermal Plasma particles that are effective against various pathogens such as SARS-CoV-2. So in the coming weeks, AEI is a stock to watch.

Market Reaction:

On Tuesday, AEI stock plunged 11.43% at $3.41 with more than 2.66 million shares, compared to its average volume of 4.35 million shares. The stock has moved within a range of $3.3600 – 3.8200 after opening the trade at $3.80. Over the past 52-week, the stock has been trading within a range of $3.3600 – 29.4900.