Alset Inc. to acquire 112 rental homes from subsidiary for $26.25M in internal restructuring

Alset Inc.

Will purchase 112 single-family rental homes in Texas from Alset EHome Inc. for $26,250,933.
Consideration includes $13.9M debt forgiveness, $11.35M promissory note, and $1M cash.
Price equals book value of homes as of Nov 30, 2022; transaction subject to Alset International Ltd. shareholder approval.
Directors and management of Alset Inc. hold overlapping roles at the subsidiaries, marking a related-party transaction.

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