LiquidValue Development subsidiary to sell 112 rental homes to Alset Inc. for $26.25M

Winning Catering Group, Inc.

Alset EHome Inc., a subsidiary, will sell entities owning 112 single-family rental homes to Alset Inc.
Total consideration $26,250,933: debt forgiveness $13.9M, promissory note $11,350,933, cash $1,000,000.
Purchase price equals book value of the subsidiary as of November 30, 2022.
Closing subject to approval of stockholders of Alset International Limited.
Transaction is with related parties; Chan Heng Fai is Chairman/CEO of all three entities.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Winning Catering Group, Inc. entered into a asset purchase with Alset Inc. valued at $26,250,933 (effective 2022-12-09).

Action: entry
Agreement: asset purchase
Counterparty: Alset Inc.
Value: $26,250,933
Effective: 2022-12-09

Exact text from the filing

On December 9, 2022, Alset EHome Inc., a subsidiary of LiquidValue Development Inc. (the “Company”), Alset International Limited and Alset Inc. entered into an agreement pursuant to which Alset EHome Inc. will sell subsidiaries owning 112 single-family rental homes to Alset Inc.

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Winning Catering Group, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-22-035573

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