Alset Terminates $19.91M Sale of Hapi Metaverse Stake to Subsidiary HWH International

summarizeSummary

Alset Inc. has terminated its agreement to sell 99.55% of Hapi Metaverse Inc. to its majority-owned subsidiary, HWH International Inc., for $19.91 million in a convertible note, effective May 6, 2026.

check_boxKey Events

• Termination of Hapi Metaverse Sale

  Alset Inc. and its majority-owned subsidiary, HWH International Inc., have terminated their agreement for Alset to sell 99.55% of Hapi Metaverse Inc. shares to HWH.

• Original Deal Details

  The original agreement, entered into on February 5, 2026, involved a sale price of $19,910,603.00, payable through a convertible promissory note from HWH International Inc.

• No Penalties or Fees

  Under the terms of the Termination Agreement dated May 6, 2026, neither party incurred any penalties or fees, and all prior rights and obligations related to the sale are nullified.

auto_awesomeAnalysis

Alset Inc. has terminated a significant agreement to sell 99.55% of its Hapi Metaverse Inc. shares to its majority-owned subsidiary, HWH International Inc. The original deal, valued at $19.91 million, was to be paid via a convertible promissory note from HWH. This termination means Alset will not receive the convertible note and retains its substantial stake in Hapi Metaverse. Given Alset's recent financial struggles, including a massive net loss and revenue decline reported in its last 10-K, the termination of a planned transaction of this magnitude (representing approximately 32% of its market cap) is a material event. It indicates a strategic shift regarding the Hapi Metaverse asset or the internal capital structure, potentially impacting the company's future financial flexibility and asset management strategy.