secwatch.observer — SEC 8-K summary
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Issuer:     XMax Inc. (XWIN)
CIK:        0001473334
Form:       8-K
Filed at:   2026-10-09T20:30:22+00:00
Accession:  0001493152-26-046545
Event type: m_and_a
Sentiment:  positive
Materiality: 0.50
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

XMax buys Hexa Creation for $4.12M to enter 1200V vertical GaN power semiconductor market
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- Aggregate purchase price of $4,123,711.34 for 100% of Hexa Creation: $4,000,000 to seller Professor Yuji Zhao and $123,711.34 to Skysong Innovations, LLC.
- At closing XMax pays $1,500,000 net to Zhao, crediting the $500,000 deposit paid June 24, 2026, plus $61,855.67 to Skysong; remaining $2,061,855.67 deferred to Dec 31, 2027 with interest.
- XMax also owes Skysong a change-of-control payment of 5% of the purchase price (about $206,186) within 30 days of closing under its exclusive patent license.
- HexaGaN holds an exclusive license to patents owned by one of the largest U.S. public universities covering 1200V vertical GaN trench MOSFET tech for AI data center power.
- Cites Yole Group: GaN power device market to grow from ~$355M in 2024 to ~$3.0B by 2030 (~42% CAGR); deal outside date is April 5, 2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1473334/000149315226046545/0001493152-26-046545-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1473334/000149315226046545/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-046545

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