XMax issues $5 million convertible note with 6% interest rate

XMax Inc. (NASDAQ: XWIN) announced it entered into a convertible promissory note purchase agreement with Billiongold Holding Limited on November 18, 2025. The company issued a convertible promissory note with a principal amount of $5 million.

The note matures 36 months after funding and bears interest at 6% per annum. The holder can convert the note into shares of XMax common stock at $7.80 per share at any time prior to full repayment.

XMax issued the note under a transaction exempt from registration under Regulation S of the U.S. Securities Act of 1933. The Nevada corporation, formerly known as Nova LifeStyle Inc., operates as a distributor of contemporary residential and commercial furniture from its headquarters in Commerce, California.

The company serves customers worldwide through relationships with retailers, e-commerce platforms, and hospitality providers, according to the press release statement.

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