Corporate Finance

XMax Reports Fund Subscription and Aerora Share Purchase Agreement

An SEC filing says Preamble X Capital I completed a private-fund subscription, while XMax entered an agreement to purchase Aerora Technology shares from Cobalt Pacific Holdings.

By Carter Hayes · August 13, 2026

Key takeaways

Preamble X Capital I completed a subscription for an approximately 5% interest in a private investment fund on August 10, 2026.
The fund manager intends to invest substantially all of the fund’s investable assets directly in Figure AI common or preferred stock.
XMax entered a securities purchase agreement with Cobalt Pacific Holdings and Aerora Technology under which XMax will purchase Aerora ordinary shares.
The filing identifies Xmax Beta Holdings Ltd. as an indirectly wholly owned XMax subsidiary and says it had previously contributed funds with Preamble X Capital I.

Private-fund transaction completed

XMax’s Form 8-K states that Preamble X Capital I, a series of Preamble X Capital LLC, subscribed for an approximately 5% interest in a private investment fund on August 10, 2026. The filing states that Preamble X Capital I completed the transaction that day.

The filing separately identifies Xmax Beta Holdings Ltd. as an indirectly wholly owned Cayman Islands subsidiary of XMax. It says Xmax Beta had previously contributed an aggregate amount with Preamble X Capital I, as previously disclosed in a July 2026 Form 8-K.

Fund manager’s intended Figure AI investment

According to the filing, the fund manager intends to invest directly substantially all of the fund’s investable assets in common or preferred stock of Figure AI Inc., which the filing describes as a Delaware corporation.

The filing identifies the intended investments as investments by the fund manager. It does not state the timing or final composition of any Figure AI investment.

Aerora purchase agreement

Also on August 10, 2026, XMax entered into a securities purchase agreement with Cobalt Pacific Holdings Ltd. and Aerora Technology Co., Ltd. The agreement provides that XMax will purchase 561,426 Aerora ordinary shares from the seller for an aggregate purchase price of US$12,003,287.95.

Aerora is described in the filing as a Cayman Islands exempted company. The filing says the ordinary shares have a par value of US$0.0001 per share and identifies the securities purchase agreement as an exhibit to the current report.

The filing describes the Aerora transaction as an agreement under which XMax will purchase the shares. It separately states that the Preamble X Capital I fund transaction was completed on August 10.