other_material
confidence high
sentiment neutral
materiality 0.70
XMax Inc. unit invests $8.46M in xAI via Preamble X Capital I subscription
XMax Inc.
- Xmax Beta Holdings subscribed 99.88% interest in Preamble X Capital I for $8,461,428.80.
- Preamble X Capital I used $2,999,928.80 to acquire 40,106 equity certificates in SPV holding xAI Series B Preferred Stock.
- Preamble X Capital I committed $5,400,000 to a separate fund to purchase xAI common stock.
- Management fee and carry percentage for Xmax Beta Holdings are 0%; term is five years.
- Investment provides XMax exposure to xAI, an AI company founded by Elon Musk.