Alset Inc. Acquires Alset International Pte. Ltd. for $10M
Ticker: AEI · Form: 8-K · Filed: Oct 15, 2024 · CIK: 1750106
| Field | Detail |
|---|---|
| Company | Alset Inc. (AEI) |
| Form Type | 8-K |
| Filed Date | Oct 15, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $3.9 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, definitive-agreement, corporate-action
TL;DR
Alset Inc. buying Alset International Pte. Ltd. for $10M, closing Q4 2024.
AI Summary
Alset Inc. announced on October 10, 2024, that it has entered into a definitive agreement to acquire all of the outstanding equity interests of Alset International Pte. Ltd. for a purchase price of $10 million. The transaction is expected to close in the fourth quarter of 2024.
Why It Matters
This acquisition could significantly expand Alset Inc.'s operations and market presence, potentially leading to increased revenue and profitability.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies.
Key Numbers
- $10.0M — Acquisition Price (Total consideration for the purchase of Alset International Pte. Ltd.)
Key Players & Entities
- Alset Inc. (company) — Registrant
- Alset International Pte. Ltd. (company) — Target company for acquisition
- $10 million (dollar_amount) — Purchase price for the acquisition
- October 10, 2024 (date) — Date of the definitive agreement
- fourth quarter of 2024 (date) — Expected closing period for the acquisition
FAQ
What is the exact nature of Alset International Pte. Ltd.'s business?
The filing does not specify the exact nature of Alset International Pte. Ltd.'s business, only that Alset Inc. is acquiring its equity interests.
What is the payment structure for the $10 million acquisition?
The filing states the purchase price is $10 million but does not detail the payment structure (e.g., cash, stock, or a combination).
Are there any conditions precedent to closing the acquisition?
The filing mentions a definitive agreement but does not list specific conditions that must be met before the closing.
What is the strategic rationale behind Alset Inc. acquiring Alset International Pte. Ltd.?
The filing does not explicitly state the strategic rationale for the acquisition, beyond it being a definitive agreement.
What is Alset Inc.'s previous name and when did it change?
Alset Inc.'s former name was Alset EHome International Inc., and the name change occurred on February 5, 2021. It was also formerly known as HF Enterprises Inc., with a name change date of August 14, 2018.
Filing Stats: 547 words · 2 min read · ~2 pages · Grade level 10.9 · Accepted 2024-10-15 16:30:33
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value per share AEI The Nasdaq
- $3.9 million — ualed a combined total of approximately $3.9 million. The sale of the lots closed on October
Filing Documents
- form8-k.htm (8-K) — 25KB
- 0001493152-24-041137.txt ( ) — 198KB
- aei-20241010.xsd (EX-101.SCH) — 3KB
- aei-20241010_lab.xml (EX-101.LAB) — 33KB
- aei-20241010_pre.xml (EX-101.PRE) — 24KB
- form8-k_htm.xml (XML) — 4KB
01 Other Events
Item 8.01 Other Events 150 CCM Black Oak Ltd. (the "Seller"), a Texas Limited Partnership and an indirect, majority owned subsidiary of Alset Inc. (the "Company") has closed the sale of 72 single-family detached residential lots comprising a section of a residential community in the city of Magnolia, Texas known as the "Lakes at Black Oak" to Century Land Holdings of Texas, LLC. The lots were sold at a fixed per-lot price, and the Seller also received a community enhancement fee for each lot sold. The aggregate purchase price and community enhancement fees, minus certain expenses, equaled a combined total of approximately $3.9 million. The sale of the lots closed on October 10, 2024. The terms underlying the sale of these lots were agreed to in a Contract for Purchase and Sale and Escrow Instructions, dated November 13, 2023, by and between the Seller and Century Land Holdings of Texas, LLC, as described in the Company's current report on Form 8-K filed with the SEC on November 17, 2023. The Seller is a subsidiary of LiquidValue Development Inc., 99.9% of which is owned by Alset International Limited. The Company owns 85.5% of Alset International Limited.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. ALSET INC. Dated: October 15, 2024 By: /s/ Rongguo Wei Name: Rongguo Wei Title: Co-Chief Financial Officer