DivestmentMay 7, 2026, 05:07 PM
Alset Terminates $19.9M Sale of Hapi Metaverse Inc. Shares
AI Summary
Alset Inc. and its subsidiary HWH International Inc. have mutually agreed to terminate their previously announced agreement for the sale of 99.55% of Hapi Metaverse Inc. shares. The original transaction, dated February 5, 2026, involved Alset selling 505,341,376 shares for $19,910,603.00, to be paid through a convertible promissory note from HWH. Management of both companies determined that terminating the sale is in their best interests, and no penalties or fees were incurred by either party.
Key Highlights
- Alset and HWH International Inc. terminated the agreement to sell Hapi Metaverse Inc. shares.
- The original deal involved Alset selling 99.55% of Hapi Metaverse Inc. outstanding capital.
- The sale price was $19,910,603.00, payable via a convertible promissory note from HWH.
- Alset was to sell 505,341,376 shares of Hapi Metaverse Inc. common stock.
- The convertible note bore a simple interest rate of 1% per annum.
- Neither party paid any penalties or fees in connection with the termination.