---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-012110"
form_type: "8-K"
ticker: "AEI"
cik: "0001750106"
company_name: "Alset Inc."
filed_at: "2025-05-22T23:59:59+00:00"
generated_at: "2026-05-20T18:32:03.423719+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Alset enters $83M deal to acquire electric-vehicle stake from Chairman

## Summary
- 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.

## SEC filing metadata
- accession: 0001641172-25-012110
- form_type: 8-K
- ticker: AEI
- cik: 0001750106
- company_name: Alset Inc.
- filed_at: 2025-05-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1750106/000164117225012110/0001641172-25-012110-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1750106/000164117225012110/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-012110
- JSON: https://secwatch.observer/filing/0001641172-25-012110.json
- Plain text: https://secwatch.observer/filing/0001641172-25-012110.txt

## Key facts
- Debt Financings
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750106/000164117225012110/0001641172-25-012110-index.htm

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