InvestmentJun 25, 2026, 05:21 PM
Alset Loans $1M to DSS, Receives Convertible Note and Warrants
AI Summary
Alset Inc. entered into a securities purchase agreement with DSS Inc. on June 23, 2026, providing a $1,000,000 loan. In exchange, Alset received a convertible promissory note and warrants to purchase 17,777,776 shares of DSS common stock. The note bears 3% interest and is convertible at $0.45 per share, while the warrants are exercisable at $0.50 per share. Both companies are related parties under common control, and the transaction was approved by Alset's Board and Audit Committee, with conflicted directors recusing themselves.
Key Highlights
- Alset Inc. loaned $1,000,000 to DSS Inc. on June 23, 2026.
- Alset received a convertible promissory note with a 3% simple interest rate.
- The note is convertible into DSS common stock at $0.45 per share and matures in 5 years.
- Alset also received warrants to purchase 17,777,776 shares of DSS common stock.
- Warrants are exercisable at $0.50 per share and expire in 3 years.
- Conversion of the note and exercise of warrants require DSS stockholder approval.
- Alset and DSS are related parties under the common control of Chan Heng Fai.
- Alset's Board of Directors and Audit Committee approved the transaction.
Price Impact
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