InvestmentApr 29, 2026, 04:54 PM
XWIN Enters Securities Purchase Agreement at $3.64/Share
AI Summary
XMax Inc. has entered into a Securities Purchase Agreement with a purchaser, effective April 24, 2026, for the issuance and sale of its Common Stock. The shares will be sold at a price of $3.64 per share, which is 50% of the closing price on Nasdaq from the trading day prior to the agreement. The payment for the shares will be made in two installments, and the shares will be subject to a 60-month lock-up period, with a potential early release if the stock price reaches $10 per share after six months.
Key Highlights
- XMax Inc. entered into a Securities Purchase Agreement on April 24, 2026.
- The company will issue Common Stock to a purchaser at $3.64 per share.
- The per share purchase price is 50% of the preceding trading day's Nasdaq closing price.
- The subscription amount will be paid in two installments: 10% within 10 business days and 90% within 60 business days.
- Shares are subject to a 60-month lock-up period.
- The lock-up can be lifted if the Common Stock closing price reaches $10 per share after six months.
- The purchaser is a non-U.S. person and an accredited investor.
Price Impact
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