secwatch.observer — SEC 8-K summary
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Issuer:     XMax Inc. (XWIN)
CIK:        0001473334
Form:       8-K
Filed at:   2025-09-04T23:59:59+00:00
Accession:  0001641172-25-026544
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nova Lifestyle closes $9M best-efforts public offering of stock and warrants
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- Gross proceeds of ~$9.0M from sale of 9.84M shares and 19.67M warrants at $0.915/unit.
- Each warrant exercisable at $1.098 (120% of offering price), expires 5 years from issuance.
- Net proceeds ~$8.15M for working capital, marketing, debt repayment, and capex.
- Placement agent: American Trust Investment Services; 7% cash fee plus 1% expense allowance and $150k out-of-pocket.
- Officers, directors, and company subject to 90-day lock-up on further securities sales.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1473334/000164117225026544/0001641172-25-026544-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1473334/000164117225026544/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-026544

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer