A purchase price of $500,000, per Alset Inc. (Nasdaq: AEI), is the controlling figure in a securities purchase agreement filed with the SEC on September 15, 2026. The math reconciles to a dual-asset acquisition: a convertible promissory note and warrants to buy 8,000,000 shares of DSS, Inc. common stock. The transaction was approved by the company's board and audit committee, with Chairman and CEO Chan Heng Fai and Co-CEO Chan Tung Moe recusing themselves from the vote.
| Instrument | Quantity/Value | Price | Maturity/Expiration |
|---|---|---|---|
| Promissory Note | $500,000 principal | 3% simple interest | Payable on demand; 5-year conversion window |
| Warrants | 8,000,000 shares | $0.55 per share | 5 years |
The note allows Alset to convert principal and interest into DSS shares at $0.50 per share, a conversion right that sits $0.05 below the warrant exercise price. Both the note conversion and warrant exercise require prior approval from DSS stockholders. The instruments expire on their fifth anniversary from the agreement date.
Related Party Dynamics
Alset already holds an approximately 39.4% equity interest in DSS, Inc. directly and through subsidiaries. The two entities are related parties under the common control of Chan Heng Fai, who serves as Chairman of both companies. Chan Tung Moe, Alset's Co-Chief Executive Officer and a director, is also a director at DSS. Lim Sheng Hon Danny, an Alset director and officer, holds a director seat at DSS as well. Three of Alset's independent directors, Joanne Wong Hiu Pan, Wong Shui Yeung, and William Wu, also serve on the DSS board. Chan Heng Fai personally holds a significant ownership interest in DSS common stock.
The filing, signed by Co-Chief Financial Officer Rongguo Wei on September 21, 2026, lists the securities purchase agreement, the form of convertible promissory note, and the form of common stock purchase warrant as exhibits 10.1, 10.2, and 10.3, respectively. The agreement is dated September 15, 2026, and the report was filed with the U.S. Securities and Exchange Commission. Alset is incorporated in Texas and maintains its principal executive offices in Bethesda, Maryland. The company is not an emerging growth company.