Alset deepens DSS stake with $500K convertible note
What's the deal? Alset Inc.Dealroom has a profile for this one. Try Dealroom →, through Alset EHome InternationalDealroom has a profile for this one. Try Dealroom →, has acquired a $500,000 convertible promissory note from DSS Inc.Dealroom has a profile for this one. Try Dealroom →, alongside warrants to buy 8,000,000 DSS common shares. The note carries 3% annual interest and converts at $0.50 per share, while the warrants are exercisable at $0.55 per share. Both instruments run five years and require DSS shareholder approval before any conversion or exercise.
Why now? The September 15, 2026 deal builds on an existing relationship: Alset already holds roughly 39.4% of DSS, a New York-based firm, directly and through subsidiaries.
What's the endgame? Alset EHome InternationalDealroom has a profile for this one. Try Dealroom → operates in the investment and diversified holdings sector, focusing on strategic equity positions in related companies. The transaction expands its stake in DSS and reflects the close operational and governance ties between the two.
What could go wrong? This is a related-party deal, with several Alset directors also sitting on the DSS board. Alset's board and audit committee approved it, but Chairman and CEO Chan Heng Fai and Co-CEO Chan Tung Moe recused themselves — a step that underscores the governance questions such deals raise for minority shareholders.
The signal: The move tightens an already interlocked corporate structure, concentrating control while leaving oversight and minority interests in sharper focus. Alset currently carries a market capitalisation of $31.56 million.
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Image credit: Sherwin Torres
