Alset Inc. Enters Securities Purchase Agreement with DSS Inc.

What Happened
Alset Inc. announced on its Form 8-K that on September 15, 2026 it entered a Securities Purchase Agreement with related‑party DSS, Inc. Under the agreement Alset paid $500,000 and received a convertible promissory note and warrants to buy up to 8,000,000 shares of DSS common stock. The note bears 3% simple interest, is payable on demand, and may be converted into DSS common stock at $0.50 per share. The warrants have a $0.55 exercise price and expire five years from issuance. The transaction requires DSS stockholder approval before the note may be converted or the warrants exercised.

Key Details

• Purchase price: $500,000 for a convertible promissory note and warrants to purchase 8,000,000 DSS shares.
• Note terms: 3% simple annual interest, payable on demand, convertible into DSS common stock at $0.50/share; five‑year maturity.
• Warrants: exercise price $0.55/share, expire on the fifth anniversary.
• Related‑party and governance: Alset holds ~39.4% of DSS directly/through subsidiaries; several Alset directors also serve on DSS’s board. The Alset Board and Audit Committee approved the transaction; CEO/Chair Chan Heng Fai and director Chan Tung Moe recused from deliberations and votes.

Why It Matters
This is a related‑party financing that could increase Alset’s potential stake in DSS if the note is converted or warrants are exercised, and it may affect both companies’ ownership structures. The demand‑payable note and conversion feature give Alset flexibility (and DSS potential dilution), but conversion/exercise is contingent on DSS shareholder approval, so the transfer of equity is not immediate. Investors should note the governance disclosures and director recusals, and monitor any future filings about DSS shareholder approval or subsequent conversions/exercises.