Alset Inc. terminates agreement to sell Hapi Metaverse shares to HWH International for $19.9M

Alset Inc.

Alset and HWH International terminated sale of 505.3M shares of Hapi Metaverse (99.55% stake) for $19.9M.
Termination effective May 6, 2026; no penalties or fees were paid.
All related agreements (Term Sheet, Stock Purchase Agreement, Convertible Note) are void from termination date.
Original deal was $19.9M via convertible note at 1% interest, convertible at $1.85/share.
Management determined termination is in best interests of both parties.

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. terminated Termination Agreement Relating to Purchase of Shares of Hapi Metaverse Inc. with HWH International Inc. valued at Termination of purchase and sale of 505,341,376 shares of Hapi Metaverse Inc. common stock for $19,9 (effective 2026-05-06).

Action: termination
Agreement: equity purchase
Counterparty: HWH International Inc.
Value: Termination of purchase and sale of 505,341,376 shares of Hapi Metaverse Inc. common stock for $19,9
Effective: 2026-05-06

Exact text from the filing

The Company and its subsidiary HWH have now agreed to terminate the purchase and sale of the Hapi Metaverse Shares, and the agreements contemplating the same, on the terms and subject to the conditions set forth in a Termination Agreement dated May 6, 2026.

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Alset Inc. filing history →

Source: SEC EDGAR

accession 0001493152-26-021752

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