HWH International (Nasdaq: HWH) sells 70% stake in Singapore cafe unit

Rhea-AI Filing Summary

HWH International Inc. disclosed that its Singapore subsidiary, Alset F&B Holdings Pte. Ltd., entered into and completed a sale and purchase agreement on September 10, 2025 with Alset International Limited.

Under this agreement, the subsidiary sold 70% of the outstanding shares of Alset F&B One Pte. Ltd., which operates a cafe in Singapore, to Alset International for S$218,941.26 (approximately $170,754 U.S. Dollars). Alset F&B One was incorporated on April 10, 2017 and generated about $470,000 U.S. Dollars in revenue in 2024. After the sale, HWH’s subsidiary will continue to own 20% of Alset F&B One.

The buyer is described as a significant stockholder of HWH International. The Company’s Chairman, Chan Heng Fai, is also Chairman and Chief Executive Officer of the buyer, and two other HWH directors, Wong Shui Yeung and Wong Tat Keung, also serve as directors of the buyer. HWH filed the full Sale and Purchase Agreement as Exhibit 10.1 and unaudited pro forma condensed consolidated financial information reflecting this transaction as Exhibit 99.1.

Insights

Corporate transactions analyst

HWH sells 70% of a cafe subsidiary to a major shareholder in a related-party deal.

HWH International, through its Singapore subsidiary, completed the sale of 70% of Alset F&B One Pte. Ltd. to Alset International Limited for S$218,941.26 (about $170,754 U.S. Dollars). Alset F&B One operates a cafe in Singapore and produced about $470,000 U.S. Dollars of revenue in 2024, while HWH’s subsidiary will retain a 20% stake after the transaction.

This is a related-party transaction: the buyer is a significant stockholder of HWH, the Company’s Chairman Chan Heng Fai is also Chairman and CEO of the buyer, and two of HWH’s other directors also sit on the buyer’s board. The filing highlights this overlap, and HWH has provided unaudited pro forma condensed consolidated financial information as Exhibit 99.1 so readers can see how the sale affects the company’s consolidated financials.

The sale appears focused on a specific operating subsidiary rather than the core company, and the consideration amount is explicitly quantified, but the overall impact on HWH’s scale is not detailed in this excerpt. Subsequent company reports containing the pro forma data will show how revenue and earnings trends change after removing most of this cafe business.

8-K Event Classification

3 items: 1.01, 2.01, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.01 Completion of Acquisition or Disposition of Assets Financial

The company completed a significant acquisition or sale of business assets.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 10, 2025

HWH International Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-41254		87-3296100
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

4800 Montgomery Lane, Suite 210 Bethesda, MD		20814
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (301) 971-3955

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.0001 par value per share		HWH		Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement

The disclosure contained in Item 2.01 of this Current Report on Form 8-K is incorporated by reference herein.

Item 2.01 Completion of Acquisition or Disposition of Assets.

On September 10, 2025, Alset F&B Holdings Pte. Ltd., (“Seller”), a Singapore subsidiary of HWH International Inc., a Delaware corporation (the “Company”), entered into a sale and purchase agreement (the “Sale and Purchase Agreement”) with Alset International Limited (“Buyer”), pursuant to which the Seller agreed to sell 70% of the outstanding shares of its subsidiary, Alset F&B One Pte. Ltd. (“Alset F&B One”) to the Buyer in exchange for S$218,941.26 Singapore Dollars (equal to approximately $170,754 U.S. Dollars). Alset F&B One was incorporated in Singapore on April 10, 2017, and operates a cafe in Singapore. It generated approximately $470,000 U.S. Dollars in revenue in 2024. Following this sale, the Seller will continue to own 20% of Alset F&B One.

The Buyer is a significant stockholder of the Company. The Company’s Chairman, Chan Heng Fai, is also the Chairman and Chief Executive Officer of the Buyer. In addition, two of the three other members of the Company’s Board of Directors, namely Wong Shui Yeung and Wong Tat Keung, are also directors of the Buyer.

The sale of shares of Alset F&B One pursuant to the Sale and Purchase Agreement was completed on September 10, 2025.

The foregoing description of the Sale and Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the complete text of the Sale and Purchase Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K.

The Company has included as Exhibit 99.1 to this Current Report on Form 8-K unaudited pro forma condensed consolidated financial information to illustrate the pro forma effects of the sale of shares of Alset F&B One pursuant to the Sale and Purchase Agreement.

Item 9.01 Financial Statements and Exhibits

(b) Pro Forma Financial Information.

Unaudited pro forma condensed consolidated financial information of the Company, giving effect to the transaction contemplated by the Sale and Purchase Agreement described in Item 2.01 of this Current Report on Form 8-K, is filed as Exhibit 99.1.

(d) Exhibits.

Exhibit No.		Description
10.1		Sale and Purchase Agreement with Alset International Limited dated September 10, 2025.
99.1		Unaudited Pro Forma Condensed Consolidated Financial Information of HWH International Inc.
104		Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: September 16, 2025	HWH INTERNATIONAL INC.
	By:	/s/ Rongguo Wei
	Name:	Rongguo Wei
	Title:	Chief Financial Officer

FAQ

What transaction did HWH (HWH) report in this 8-K?

HWH International reported that its Singapore subsidiary, Alset F&B Holdings Pte. Ltd., entered into and completed a Sale and Purchase Agreement to sell 70% of Alset F&B One Pte. Ltd. to Alset International Limited on September 10, 2025.

How much did Alset International Limited pay for the 70% stake in Alset F&B One?

Alset International Limited agreed to pay S$218,941.26 Singapore Dollars, described as approximately $170,754 U.S. Dollars, for 70% of the outstanding shares of Alset F&B One Pte. Ltd.

What business does Alset F&B One Pte. Ltd. conduct and how large is it?

Alset F&B One Pte. Ltd. was incorporated in Singapore on April 10, 2017 and operates a cafe in Singapore. It generated approximately $470,000 U.S. Dollars in revenue in 2024, according to the disclosure.

What ownership interest in Alset F&B One will HWH retain after the sale?

Following the sale of 70% of the outstanding shares of Alset F&B One Pte. Ltd. to Alset International Limited, the HWH subsidiary, Alset F&B Holdings Pte. Ltd., will continue to own 20% of Alset F&B One.

What is the relationship between HWH International and the buyer, Alset International Limited?

The filing states that the buyer, Alset International Limited, is a significant stockholder of HWH International. It also notes that HWH’s Chairman, Chan Heng Fai, is Chairman and CEO of the buyer, and that directors Wong Shui Yeung and Wong Tat Keung serve as directors of the buyer as well.

What additional documents did HWH file related to this transaction?

HWH filed the Sale and Purchase Agreement with Alset International Limited as Exhibit 10.1 and unaudited pro forma condensed consolidated financial information reflecting the transaction as Exhibit 99.1 to the 8-K.