Yakira Capital Management, Inc. - May 3, 2023 Form 3 Insider Report for Alset Capital Acquisition Corp. (ACAX)

Role: 10%+ Owner
Signature: /s/ Nicholas Sabatini
Stock symbol: ACAX
Transactions as of: May 3, 2023
Transactions value $: $0
Form type: 3
Date filed: 5/9/2023, 04:30 PM
Previous filing: Feb 23, 2023
Next filing: Jun 5, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	ACAX	Class A Common Stock, par value $0.0001 per share						350K	May 3, 2023	See Footnote	F1, F2

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

Explanation of Responses:

Id	Content
F1	Yakira Capital Management, Inc., a Delaware corporation (the "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 the 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 the Reporting Person's pecuniary interest therein.
F2	This Form 3 is being filed due to the redemption of 6,648,964 Class A Common Stock, par value $0.0001 per share (as announced by the Company in a Form 8-K filed on May 3, 2023) by Company stockholders, after which the Reporting Person's aggregate beneficial ownership was above 10% due to the ownership of the Class A Common Stock already held on such date.

Content

Yakira Capital Management, Inc., a Delaware corporation (the "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 the 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 the Reporting Person's pecuniary interest therein.

This Form 3 is being filed due to the redemption of 6,648,964 Class A Common Stock, par value $0.0001 per share (as announced by the Company in a Form 8-K filed on May 3, 2023) by Company stockholders, after which the Reporting Person's aggregate beneficial ownership was above 10% due to the ownership of the Class A Common Stock already held on such date.