In a recent transaction, Alset Inc. (NASDAQ:ALSET) acquired 1.3 million shares of HWH International Inc.’s common stock. (NASDAQ:HWH) for a total value of $585,000. The purchase price is $0.45 per share, as set forth in a Stock Purchase Agreement dated December 24, 2024. The acquisition comes as HWH’s stock trades at $0.53, which has experienced significant volatility with 95% decrease year-to-date, according to InvestingPro data.

The acquisition increases the beneficial ownership of Alset Inc. of HWH International to 24,976,456 shares. It includes shares owned directly and indirectly through its subsidiaries, Alset International Limited and Alset Acquisition Sponsor, LLC. Chan Heng Fai Ambrose, who serves as Chairman and CEO of Alset Inc., can be considered to have beneficial ownership of these shares. In addition, Mr. Chan personally owns 13,000 shares of HWH International.

This transaction highlights Alset Inc.’s ongoing investment strategy. and its commitment to expand its holdings in HWH International.

In other recent news, HWH International secured a $585,000 investment from Alset Inc., its majority owner. This move saw Alset increase its ownership stake in HWH International from 88.8% to 90.1%. In addition to this, HWH International reported significant growth in its joint venture, Hapi Travel, with revenues exceeding $18 million in the first three quarters of 2024, a significant increase of 44.55% over the previous twelve month.

In an effort to strengthen its financial position, the company sold 4,411,764 shares of Alset Inc. common stock, and converted $3,801,759 of debt into equity by issuing 6,034,537 new part of Alset International Limited and Alset Inc. recent developments aimed at supporting HWH International’s growth and expansion efforts.

However, the company received a notice from the Nasdaq Hearings Panel for failing to meet the minimum market value of publicly held shares and the minimum market value of listed securities, which placed of HWH International at risk of being delisted from the Nasdaq Global Market. Despite these challenges, the company is actively working to fulfill its compliance plan and maintain its listing status.

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