Alset Inc. entered into a Securities Purchase Agreement to acquire approximately 13.9% stake in DSS, Inc. from Chan Heng Fai and Heng Fai Holdings Limited for $1.7 million.

Alset Inc. (NasdaqCM:AEI) entered into a Securities Purchase Agreement to acquire approximately 13.9% stake in DSS, Inc. (NYSEAM:DSS) from Chan Heng Fai and Heng Fai Holdings Limited for $1.7 million on May 21, 2024. Pursuant to the securities purchase agreement, Alset will purchase 982,303 shares of DSS Inc., a NYSE-listed company. These shares include 979,325 shares of DSS common stock to be acquired from Chan Heng Fai and 2,978 shares to be acquired from Heng Fai Holdings Limited (collectively, the ?Shares?).

The Shares represent approximately 13.9% of the total issued and outstanding shares of DSS as of the date hereof. As consideration for the Shares, Alset will issue a total of 3,316,488 shares of its common stock to Chan Heng Fai and Heng Fai Holdings Limited. The closing of the transaction remain subject to the approval of Alset?s stockholders and no objection from the Nasdaq.

Approval of the transaction was granted by the Board of Directors of Alset during a meeting of the Board held on May 6, 2024.