Alset subsidiary amends lot sale agreement, reducing lots from 242 to 131

Alset Inc.

150 CCM Black Oak Ltd. (Alset subsidiary) and Century Land Holdings amended purchase contract for Lakes at Black Oak community in Magnolia, TX.
Buyer will now purchase approximately 131 single-family lots instead of 242 originally agreed.
Seller must develop and improve property at its cost per plans and regulations before closing.
Closing subject to satisfaction of certain conditions; no assurance completion on current terms.
Company states this is integral to its multi-pronged real estate strategy, retaining other properties for future projects.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Alset Inc. amended Contract for Purchase and Sale and Escrow Instructions with Century Land Holdings of Texas, LLC (effective 2022-11-28).

Action: amendment
Agreement: asset purchase
Counterparty: Century Land Holdings of Texas, LLC
Effective: 2022-11-28

Exact text from the filing

On November 28, 2022, the parties to the Agreement entered into an amendment to the Agreement (the “Amendment”). Pursuant to the Amendment, the Buyer will now proceed with the purchase of approximately 131 single-family detached residential lots, instead of 242 lots.

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Alset Inc. filing history →

Source: SEC EDGAR

accession 0001493152-22-034347

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