Form 4: Alset Inc. Acquires 6.5 Million Shares of HWH International from Alset International Ltd.

Alset Inc. purchased 6.5 million shares of HWH International from Alset International Limited, increasing its direct ownership while maintaining overall beneficial ownership.

Summary

• Alset Inc. acquired 6.5 million shares of HWH International Inc. from Alset International Limited for $0.63 per share.
• The transaction was completed on November 20, 2024, following a Stock Purchase Agreement entered into on September 26, 2024.
• Alset Inc. issued a secured promissory note of $4,095,000 to Alset International Limited as consideration for the shares.
• Following the transaction, Alset Inc. directly owns 6,976,190 shares and indirectly owns 9,958,347 shares through Alset International Limited, and 2,330,155 shares through another subsidiary, totaling 19,264,692 shares.
• Alset International Limited continues to own 9,958,347 shares of HWH International Inc.
• The transaction did not change the total number of shares beneficially owned by Alset Inc. or the number of shares owned by Chan Heng Fai, the Chairman, CEO and majority stockholder of Alset Inc.

Sentiment

Score: 7

Explanation: The document reflects a routine internal transaction, with no significant positive or negative implications for the company's overall performance. The transaction was expected and completed as per the agreement.

Positives

• Alset Inc. has increased its direct ownership stake in HWH International Inc.
• The transaction was completed at a price of $0.63 per share.
• The transaction was completed as per the Stock Purchase Agreement.

Management Comments

• Chan Heng Fai, Chief Executive Officer of Alset Inc. and Alset International Limited, signed the SEC Form 4 on behalf of both entities.

Industry Context

This transaction reflects internal restructuring of ownership within the Alset group of companies, rather than a broader market trend.

Comparison to Industry Standards

• Direct share purchases between related entities are not uncommon, but the specific details of the transaction, such as the promissory note, are specific to this situation.
• The transaction is not directly comparable to open market purchases by unrelated parties.

Related Party Transactions

• The transaction involved a purchase of shares between Alset Inc. and Alset International Limited, which are related parties.

Stakeholder Impact

• The transaction does not have a significant impact on external stakeholders as it is an internal transfer of shares.
• The transaction does not change the overall beneficial ownership of Alset Inc.

Key Dates

Keywords

share acquisition, beneficial ownership, stock purchase agreement, promissory note, HWH International Inc., Alset Inc., Alset International Limited