---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-020715"
form_type: "8-K"
ticker: "AEI"
cik: "0001750106"
company_name: "Alset Inc."
filed_at: "2025-07-23T23:59:59+00:00"
generated_at: "2026-05-18T03:34:13.151644+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Alset closes $83M purchase of NEAPI from Chan; issues 27.7M shares on note conversion

## Summary
- 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.

## SEC filing metadata
- accession: 0001641172-25-020715
- form_type: 8-K
- ticker: AEI
- cik: 0001750106
- company_name: Alset Inc.
- filed_at: 2025-07-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.01, 2.03, 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1750106/000164117225020715/0001641172-25-020715-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1750106/000164117225020715/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-020715
- JSON: https://secwatch.observer/filing/0001641172-25-020715.json
- Plain text: https://secwatch.observer/filing/0001641172-25-020715.txt

## Key facts
- M&A Transactions
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750106/000164117225020715/0001641172-25-020715-index.htm

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