XMAX Inc. announced that at a special meeting on November 2, 2026, its shareholders approved proposals authorizing the company to issue significant amounts of common stock. The approvals allow for two separate offerings, each potentially exceeding 20% of the company's outstanding common stock at a price below the Nasdaq-defined minimum.
Key Details
- Private Placement Approval: Shareholders approved the sale and issuance of over 20% of outstanding common stock in a private placement offering (For: 24,235,436; Against: 2,228,032).
- Registered Direct Offering Approval: Shareholders also approved a registered direct offering (shelf issuance) for over 20% of outstanding stock under similar pricing conditions (For: 24,235,445; Against: 2,228,023).
- Transaction Ratification: Shareholders ratified certain prior transactions and related share issuances that occurred in March and April 2026.