---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-042499"
form_type: "8-K"
ticker: "AEI"
cik: "0001750106"
company_name: "Alset Inc."
filed_at: "2023-11-22T23:59:59+00:00"
generated_at: "2026-06-07T22:18:25.074386+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Alset Inc. subsidiary agrees to sell HWH International shares to two investors for $16M total

## Summary
- Alset International (85.4%-owned by Alset Inc.) sells 640 HWH International shares to each of two investors for $8M each via promissory notes.
- Each investor receives 6.4% of consideration from planned HWH International/Alset Capital merger; Alset International gets 87.2%.
- Sale is subject to closing conditions, including consummation of the HWH International business combination with Alset Capital.
- Security agreements grant Alset International sole recourse to brokerage accounts serving as collateral for the notes.

## SEC filing metadata
- accession: 0001493152-23-042499
- form_type: 8-K
- ticker: AEI
- cik: 0001750106
- company_name: Alset Inc.
- filed_at: 2023-11-22T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1750106/000149315223042499/0001493152-23-042499-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1750106/000149315223042499/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-042499
- JSON: https://secwatch.observer/filing/0001493152-23-042499.json
- Plain text: https://secwatch.observer/filing/0001493152-23-042499.txt

## Key facts
- Material Agreements
  Alset Inc. entered into Stock Purchase Agreement with Massive Brilliant Limited valued at $8,000,000.00 per share purchase (effective 2023-11-21).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Massive Brilliant Limited
  - Value: $8,000,000.00 per share purchase
  - Effective: 2023-11-21
  source text: On November 21, 2023, Alset International Limited, an 85.4%-owned subsidiary of Alset Inc. (the “Company”) entered into two Stock Purchase Agreements (each, a “Stock Purchase Agreement,” collectively the “Stock Purchase Agreements”), with each of Teh Wing Kwan, a citizen of Singapore, and Massive Brilliant Limited, a Hong Kong limited company (each an “Investor,” collectively, the “Investors”), the terms of each Stock Purchase Agreement being substantially the same.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750106/000149315223042499/0001493152-23-042499-index.htm
- Material Agreements
  Alset Inc. entered into Stock Purchase Agreement with Teh Wing Kwan valued at $8,000,000.00 per share purchase (effective 2023-11-21).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Teh Wing Kwan
  - Value: $8,000,000.00 per share purchase
  - Effective: 2023-11-21
  source text: On November 21, 2023, Alset International Limited, an 85.4%-owned subsidiary of Alset Inc. (the “Company”) entered into two Stock Purchase Agreements (each, a “Stock Purchase Agreement,” collectively the “Stock Purchase Agreements”), with each of Teh Wing Kwan, a citizen of Singapore, and Massive Brilliant Limited, a Hong Kong limited company (each an “Investor,” collectively, the “Investors”), the terms of each Stock Purchase Agreement being substantially the same.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750106/000149315223042499/0001493152-23-042499-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.