Chan Heng Fai Ambrose 4
4 · Alset Inc. · Filed Jul 23, 2025
Insider Transaction Report
Form 4
Alset Inc.AEI
Chan Heng Fai Ambrose
DirectorChief Executive Officer10% Owner
Transactions
- Conversion
Convertible Debt
2025-07-23−27,666,667→ 0 totalExercise: $3.00From: 2025-07-23Exp: 2030-07-23→ Common Stock (27,666,667 underlying) - Other
Common Stock
2025-07-23+27,666,667→ 31,789,903 total - Other
Convertible Debt
2025-07-23+27,666,667→ 27,666,667 totalExercise: $3.00From: 2025-07-23Exp: 2030-07-23→ Common Stock (27,666,667 underlying)
Footnotes (2)
- [F1]On July 23, 2025, in consideration for the acquisition of certain assets, Alset Inc. issued a convertible promissory note (the "Note") to Chan Heng Fai in the amount of $83,000,000. The Note was convertible at a conversion price of $3.00 per share. On July 23, 2025, Mr. Chan converted the entire principal of the Note into 27,666,667 newly issued shares of the Issuer's common stock.
- [F2]In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 3,875,506 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 35,665,409 shares of the common stock of Alset Inc.