XMax Inc. Announces US$5 Million Convertible Note Financing
Rhea-AI Summary
XMax (NASDAQ: XWIN) announced a US$5,000,000 convertible promissory note issued to Billiongold Holding Limited on November 18, 2025. The note matures 36 months after funding, bears interest at 6% per annum, and is convertible at the holder's option into common stock at US$7.80 per share any time before full repayment. The financing was completed in a transaction exempt from registration under Regulation S of the U.S. Securities Act of 1933.
This provides near-term liquidity while creating potential share issuance if the holder converts the note.
Positive
- US$5.0M cash proceeds raised
- Convertible structure preserves near-term cash flexibility
- Interest cost fixed at 6% per annum for 36 months
Negative
- Potential share dilution at US$7.80 conversion price
- Debt obligation matures in 36 months if not converted
LOS ANGELES, Nov. 24, 2025 (GLOBE NEWSWIRE) -- XMax Inc., a Nevada corporation (“XMax” or the “Company”) (NASDAQ: XWIN) today announced that on November 18, 2025, it entered into a Convertible Promissory Note Purchase Agreement with Billiongold Holding Limited, pursuant to which the Company issued a convertible promissory note in the principal amount of US
The note matures 36 months after funding, bears interest at
The note was issued in a transaction exempt from registration under Regulation S under the U.S. Securities Act of 1933, as amended.
About XMax Inc.
Headquartered in Commerce, California, XMax Inc., formerly known as Nova LifeStyle Inc., is a well-established distributor of contemporary styled residential and commercial furniture. The Company monitors popular trends and products to create design elements integrated into product lines for both stand-alone and whole-room furnishing solutions. Through its relationship with a global network of retailers, e-commerce platforms, and hospitality providers, the Company serves customers worldwide with high-quality furniture products.
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, 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
ICR LLC.
FAQ
What did XMax (XWIN) announce on November 18, 2025?
What are the key terms of XMax's convertible note (XWIN)?
How could the XMax convertible note affect XWIN shareholders?
When can Billiongold convert XMax's note into XWIN shares?
Was XMax's US$5M financing registered with the SEC?
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