XMax Inc. filed an 8-K on November 3, 2026, announcing that its Board of Directors has authorized a share repurchase program of up to $30 million in aggregate purchase price of the company's outstanding common stock, with repurchases limited to prices below $5.50 per share.

Key Highlights

  • Repurchase ceiling: The Board authorized repurchases of up to $30 million in aggregate purchase price of common stock, par value $0.001 per share.
  • Price limit: Shares may be repurchased only at prices below $5.50 per share.
  • Program duration: The program will expire three months after the Commencement Date, which has not yet been determined.
  • Conditions before start: No repurchases will occur before the company publicly releases its fiscal quarter ended September 30, 2026 earnings, discloses any material nonpublic information, and engages a broker-dealer.
  • Funding source: The company expects to fund repurchases with its existing cash and cash equivalents.
  • No obligation: The program does not obligate the company to repurchase any particular number of shares, and it may be suspended, modified, or discontinued at any time without prior notice.

XMax Board Sets $30 Million Buyback With Strict Price and Timing Conditions

XMax Inc. (NASDAQ:XMAX), described in the filing as a distributor of contemporary furniture and artificial intelligence software and platform-based service provider headquartered in Commerce, California, announced that its Board of Directors has authorized a share repurchase program allowing the company to buy back up to $30 million in aggregate purchase price of its outstanding common stock. According to the filing, the common stock carries a par value of $0.001 per share, and all repurchases are subject to a hard price cap: shares may only be purchased at prices below $5.50 per share.

The filing states that the program will not begin until a Commencement Date is established following three conditions: the company must publicly release its financial results for the fiscal quarter ended September 30, 2026 via press release, publicly disclose any material nonpublic information, and engage a broker-dealer for the program. Once those conditions are met and the program commences, it will expire three months after the Commencement Date. Repurchases are expected to be made through open-market purchases, which may include purchases under a trading plan intended to satisfy Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and are intended to comply with Rule 10b-18 under the Exchange Act and other applicable legal requirements, according to the filing.

The filing notes that the timing, manner, price, and amount of any repurchases will be determined by the company's management based on market conditions, the trading price of the common stock, liquidity and capital requirements, legal requirements, and other factors. Chief Executive Officer Andy Lu was quoted in the filing stating that the authorization "reflects our confidence in XMax's long-term strategy and our commitment to creating value for shareholders." The company was formerly known as Nova LifeStyle, Inc., according to the filing.

What Was Disclosed

XMax Inc. disclosed a Board-authorized share repurchase program of up to $30 million, capped at $5.50 per share, that will begin only after specified public disclosures and broker engagement, and will expire three months after its Commencement Date.