Item 8.01 Other Events.
good December 9, 2022, Alset Inc. (the “Company”) entered into an agreement
Alset EHome Inc. and Alset International Limited, two majority-owned subsidiaries of the Company, pursuant to which the Company will reorganize the ownership of its home rental business. The Company and certain majority-owned subsidiaries currently own 132 single-family rental properties. Texas. 112 of these rental properties are currently owned by subsidiaries Alset EHome Inc.
The Company owns 85.4% of Alset International Limited, and Alset International Limited indirectly owns approximately 99.9%. Alset EHome Inc. According to this agreement, the Company will become the direct owner of the subsidiaries of the group members who own these 112 properties, instead of having these properties indirectly through the subsidiaries of Alset International Limited.
Alset EHome Inc. The entity that owns these 112 homes will be sold to the Company for a total consideration $26,250,933including debt forgiveness $13,900,000the amount of the receipt
$11,350,933 and paying in cash $1,000,000. This purchase price represents the accounting value of the company with 112 homes November 30, 2022.
The closing of this transaction is subject to the approval of the shareholders of Alset International Limited. Certain members of the Board of Directors and management of the Company are also members of the Board of Directors and management of Alset International Limited and Each. Alset EHome Inc.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. Description
104 Cover Page Interactive Data File (embedded within the Inline XBRL
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