Alset Inc. to acquire 13.9% of DSS Inc. from CEO in stock-for-stock deal

Alset Inc.

Alset (AEI) will buy 982,303 DSS shares (13.9% of outstanding) from CEO Chan Heng Fai and Heng Fai Holdings.
Consideration: 3,316,488 newly issued AEI shares; valuation based on May 3, 2024 closing prices.
Chan Heng Fai is both CEO/Chairman of Alset and Chairman of DSS; he and son recused from board vote.
Transaction requires stockholder approval and Nasdaq no-objection; closing not yet certain.
Acquisition is a related-party transaction with potential governance concerns for minority shareholders.

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