Alset Inc. expands stake in DSS with $800K stock purchase

Alset Inc. (NASDAQ:AEI), a real estate firm headquartered in Bethesda, Maryland, has entered into a stock purchase agreement with DSS, Inc., expanding its investment in the company. On Monday, the company disclosed that it had agreed to acquire 820,597 newly issued shares of DSS’s common stock at a total cost of $800,000, equating to approximately $0.9749 per share.

The transaction, which took place on December 10, 2024, increases Alset Inc.'s position as the largest shareholder in DSS. Notably, Heng Fai Chan, Alset’s Chairman, Chief Executive Officer, and majority stockholder, also serves as the Executive Chairman of DSS and holds a significant stake in the company.

This development comes at a time when Alset Inc. is actively consolidating its investments, leveraging cross-company strengths to potentially enhance shareholder value. The relationship between the two companies is further underscored by the shared leadership of Heng Fai Chan, indicating a strategic alignment between Alset and DSS.

The specifics of the stock purchase agreement have been detailed in an exhibit attached to the SEC filing, which provides a comprehensive overview of the terms and conditions associated with the acquisition. This move by Alset Inc. is part of its broader strategy to strengthen its market position through strategic investments and partnerships.

The information presented in this article is based on a press release statement and the details filed with the Securities and Exchange Commission. Alset Inc. operates within the real estate sector under the SIC code 6500 and is incorporated in Texas, with its fiscal year ending on December 31. The company, formerly known as Alset EHome International Inc. and prior to that as HF Enterprises Inc., has undergone name changes, with the most recent occurring on February 5, 2021.

In other recent news, Alset Inc. has reported significant developments in its operations. The company has seen a 39.9% decline in revenue over the past year, according to InvestingPro data. Despite this, Alset Inc. maintains a strong liquidity position with a current ratio of 16.94.

In corporate governance news, Alset Inc. shareholders have re-elected seven board members and ratified the appointment of Grassi & Co. as the company's independent auditor for the year ending December 31, 2024. The company has also made strategic moves in the real estate and investment sectors. Alset Inc. completed a significant land sale in Texas, selling 72 single-family residential lots for approximately $3.9 million.

In terms of investments, Alset Inc. increased its stake in HWH International Inc. to 88.8% through a stock purchase agreement. Additionally, the company finalized the purchase of 6.5 million shares of HWH International Inc. from its subsidiary, Alset International Limited, issuing a secured promissory note valued at $4.095 million with a 5% annual interest rate, maturing on September 26, 2026. These are the latest developments in Alset Inc.'s ongoing operations.

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