X0206 3 2023-05-01 0 0001897245 Alset Capital Acquisition Corp. ACAX 0001279891 WOLVERINE ASSET MANAGEMENT LLC 175 WEST JACKSON SUITE 340 CHICAGO IL 60604 0 0 1 0 Class A Common Stock 207821 I By Wolverine Asset Management, LLC as manager of Wolverine Flagship Fund Trading Limited This Form 3 is being filed solely due to the redemption of 6,648,964 shares of Class A Common Stock by shareholders other than the Reporting Person, as announced by the Issuer in a current report on Form 8-K filed on 5/1/2023 (the "Redemptions"). After Redemptions, the Reporting Person's aggregate beneficial ownership was over 10%. The Reporting Person has not acquired Class A Common Stock or any other equity securities of the issuer since being pushed over 10% due to Redemptions. Kenneth Nadel, Chief Operating Officer 2023-05-04