Alset Inc. (AEI): debt financing — Alset enters $83M deal to acquire electric-vehicle stake from Chairman

Alset Inc.

Purchase price of $83M via 5-year convertible note at $3.00/share, 1% interest.
Acquires NEAPI, which owns 41.5% of New Energy Asia Pacific Co. Ltd. (all-electric vehicles).
Chairman/CEO Chan Heng Fai is seller; Audit Committee and Board approved; fairness opinion obtained.
Stockholder approval required; customary closing conditions apply.
Chan and his son recused from deliberations; note convertible upon 10 days' notice prior to maturity.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Alset Inc. incurred convertible notes of $83,000,000 with Chan Heng Fai at 1% per annum maturing five (5) years from the date of the Term Sheet.

Instrument: convertible notes
Principal: $83,000,000
Counterparty: Chan Heng Fai
Rate: 1% per annum
Maturity: five (5) years from the date of the Term Sheet
Event: incurrence

Exact text from the filing

On May 22, 2025, pursuant to the terms of the Amended Term Sheet, the Company and the Seller entered into a Stock Purchase Agreement (the “Stock Purchase Agreement”) to purchase from the Seller all of the outstanding shares of NEAPI for a purchase price of $83,000,000 in the form of a promissory note convertible into newly issued shares of the Company’s common stock (the “Convertible Note”).

View on SEC.gov

Browse all debt financings →

Alset Inc. filing history →

Source: SEC EDGAR

accession 0001641172-25-012110

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.