Alset Inc. (AEI): M&A transaction — Alset closes $83M purchase of NEAPI from Chan; issues 27.7M shares on note conversion

Alset Inc.

Completed purchase of all NEAPI shares for $83M convertible note; Chan converted note into 27,666,667 shares at $3.00 per share.
Acquired entity owns 41.5% of New Energy Asia Pacific Company Ltd, an electric vehicle distributor with signed MOUs and government interest.
Seller Chan Heng Fai (Chairman/CEO) and Co-CFO Lui Wai Leung Alan sit on New Energy's board; transaction is related-party.
Shares issued in exempt private placement under Section 4(a)(2) of the Securities Act.

item 2.01 item 2.03 item 1.01 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Alset Inc. completed an acquisition involving Chan Heng Fai for $83,000,000 in the form of a promissory note convertible into newly issued shares of the Company's common stock (closed 2025-07-23).

Action: acquisition
Counterparty: Chan Heng Fai
Consideration: $83,000,000 in the form of a promissory note convertible into newly issued shares of the Company's common stock
Closing: 2025-07-23

Exact text from the filing

Chief Executive Officer and largest stockholder, pursuant to which the Company purchased from Mr. Chan 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”). The Convertible Note bears a simple interest rate of

View on SEC.gov

Browse all m&a transactions →

Alset Inc. filing history →

Source: SEC EDGAR

accession 0001641172-25-020715

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.