Nova Lifestyle Inc. Announces A US$5.66 Million Investment in a Fund to Hold Interest in SpaceX Shares
Rhea-AI Summary
Nova Lifestyle Inc. (NASDAQ: NVFY) has announced a strategic investment of $5.66 million to acquire a 99.815% interest in Preamble Capital, which will hold a 6.667% stake in a fund owning 353,772 SpaceX shares. The SpaceX holdings consist of 121,805 Class A and 231,967 Class C Common Stock shares.
The investment marks Nova's strategic shift toward technology and innovation-driven sectors, including AI-driven smart living solutions, while maintaining its core furniture and lifestyle business. CEO Xiaohua Lu emphasized that this diversification aims to enhance long-term shareholder value without replacing existing operations.
Nova Lifestyle continues to operate as a designer and distributor of modern lifestyle furniture under the Nova Brands and Diamond Sofa brands, serving middle and upper-middle-income consumers globally.
Positive
- None.
Negative
- None.
News Market Reaction 5 Alerts
On the day this news was published, NVFY gained 5.17%, reflecting a notable positive market reaction. Argus tracked a trough of -32.3% from its starting point during tracking. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $10M to the company's valuation, bringing the market cap to $197M at that time.
Data tracked by StockTitan Argus on the day of publication.
LOS ANGELES, Sept. 29, 2025 (GLOBE NEWSWIRE) -- Nova Lifestyle, Inc. ("Nova" or the "Company") (NASDAQ: NVFY), today announced that the Company has invested approximately US
The investment in SpaceX represents a significant step in Nova's strategic transformation toward technology and innovation-driven sectors, including AI-driven smart living solutions.
Mr. Xiaohua Lu, Chief Executive Officer of Nova Lifestyle, stated, "This opportunity to invest in SpaceX enables us to diversify our business and holdings, all of which we believe will contribute to long-term shareholder value. Although we are not changing our core business, we are exploring investment opportunities, all of which are intended to complement—not replace—our existing operations. We remain committed to our core business in the furniture and lifestyle sector while expanding the opportunities for investment in technologies and assets."
About Nova Lifestyle
Nova Lifestyle, Inc. is a well-established, innovative designer and distributor of modern lifestyle furniture; primarily sofas, dining room furniture, cabinets, office furniture, and related components, bedroom furniture, and various accessories, in matching collections. Nova LifeStyle's product lines include the Nova Brands and Diamond Sofa (www.diamondsofa.com). Nova's products feature urban contemporary styles that integrate comfort and functionality, incorporating upscale luxury designs that appeal to middle and upper-middle-income consumers in the USA, China, Southeast Asia, and elsewhere in the world.
Visit Nova LifeStyle's website at www.NovaLifeStyle.com.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, among others, our ability to fully resume our operations and remain financially healthy, and our expected future growth prospects. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as "anticipate," "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target," "trajectory," "focus," "work to," "attempt," "pursue," or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, and expected future developments, as well as other factors we believe are appropriate in the circumstances.
Investor Relations Contact
Andrew Barwicki
516-662-9461
andrew@barwicki.com
ir@novalifestyle.com
