XMax board approves $30M share repurchase program

XMax Inc. (NASDAQ: XMAX) announced that its Board of Directors has authorized a share repurchase program allowing the company to buy back up to $30 million of its outstanding common stock, according to a press release. Repurchases are limited to prices below $5.50 per share.

The program will not begin until the company has publicly released its financial results for the fiscal quarter ended September 30, 2026, disclosed any material nonpublic information, and engaged a broker-dealer for the program. The program will expire three months after its commencement date.

Repurchases are expected to be conducted through open-market purchases, which may include transactions under a Rule 10b5-1 trading plan. The company said it intends to fund repurchases using existing cash and cash equivalents.

Management will determine the timing, price, and amount of any repurchases based on market conditions, the stock's trading price, and liquidity and capital requirements. The program does not obligate the company to repurchase any specific number of shares and may be suspended, modified, or discontinued at any time without prior notice.

XMax, headquartered in Commerce, California, is engaged in the design, sourcing, and distribution of contemporary furniture, as well as the development of artificial intelligence software and platform-based services.

You May Also Be Interested In

• PTC Therapeutics board approves $500M share repurchase program
• TotalEnergies inks ELF oil distribution deal with SSF Auto Parts
• Saba Capital's BRW renews share buyback of up to 10% of shares