LOS ANGELES, Sept. 29, 2025 (GLOBE NEWSWIRE) -- Nova Lifestyle, Inc. ("Nova" or the "Company") (NASDAQ: NVFY), today announced that the Company has invested approximately US$5.66 million to subscribe 99.815% interest of Preamble Capital, A Series of CGF2021 LLC that will acquire 6.667% interest of a certain fund that holds an aggregate of 353,772 shares of Common Stock of Space Exploration Technologies Corp., a Texas corporation ("SpaceX"), comprising of 121,805 shares of Class A Common Stock and 231,967 sh ...

Core Insights - American Trust Investment Services, Inc. (ATIS) acted as the exclusive placement agent for Nova LifeStyle, Inc. in a follow-on public offering, raising gross proceeds of $9 million through the sale of 9,836,054 shares and 19,672,108 warrants priced at $0.915 each [1][2] Group 1: Transaction Details - The offering included each share of common stock issued with two five-year warrants, exercisable at $1.098, which is 120% of the public offering price [2] - The net proceeds from the offering will be utilized for working capital, marketing initiatives, repayment of certain short-term debt, and general corporate purposes [3] Group 2: Company Background - Nova LifeStyle is a U.S.-based designer and marketer of modern lifestyle furniture, operating under brands such as Nova Brands and Diamond Sofa [3] - ATIS is recognized for its strategic approach in providing customized capital markets solutions to high-growth companies, with a focus on small and mid-cap markets [4][5]

Core Viewpoint - Nova LifeStyle, Inc. has successfully closed a public offering of 9,836,054 shares of common stock and 19,672,108 warrants, raising approximately $9.0 million in gross proceeds, which will be utilized for working capital, marketing, debt repayment, and capital expenditures [1][2]. Group 1: Offering Details - The public offering was priced at $0.915 per share, with each share sold together with two warrants, each exercisable at $1.098 per share [1]. - The offering closed on September 4, 2025, and the warrants will expire on the fifth anniversary of their issuance [1][2]. - The offering was conducted under a registration statement declared effective by the SEC on August 27, 2025 [4]. Group 2: Company Overview - Nova LifeStyle, Inc. is an innovative designer and distributor of modern lifestyle furniture, including sofas, dining room furniture, and office furniture, targeting middle and upper middle-income consumers [6]. - The company's product lines include the Nova Brands and Diamond Sofa, featuring urban contemporary styles that integrate comfort and functionality [6].

Core Viewpoint - Nova LifeStyle, Inc. has announced a public offering of up to 9,522,393 shares of common stock and up to 19,044,786 warrants at a price of $0.915 per share, aiming to raise approximately $8.71 million for various corporate purposes [1][2]. Group 1: Offering Details - The public offering includes common stock sold with two warrants per share, with each warrant exercisable at an exercise price of $1.098 [1]. - The offering is expected to close on or about September 4, 2025, pending customary closing conditions [2]. - Gross proceeds before expenses are estimated at approximately $8.71 million, subject to increase based on pending subscriptions [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for working capital, marketing expenditures, repayment of short-term debt, and capital expenditures [2]. Group 3: Company Overview - Nova LifeStyle, Inc. is an innovative designer and distributor of modern lifestyle furniture, including sofas, dining room furniture, and office furniture, targeting middle and upper middle-income consumers [6]. - The company operates under the Nova Brands and Diamond Sofa, offering urban contemporary styles that combine comfort and functionality [6].

Group 1 - The core viewpoint of the article highlights the financial performance and market position of Nova LifeStyle, Inc., indicating a modest revenue growth and significant improvement in net profit despite a negative net income figure [1] - As of June 30, 2025, Nova LifeStyle reported total revenue of $5.19 million, reflecting a year-over-year increase of 2.51% [1] - The company experienced a net loss attributable to shareholders of $628,800, which represents a year-over-year improvement of 68.97% [1] Group 2 - Nova LifeStyle, Inc. was established on September 9, 2009, in Nevada and operates as a manufacturer of contemporary residential furniture [1] - The company focuses on current trends and aims to integrate design elements into its product line, offering both standalone and complete room furniture solutions [1] - Through its global network, Nova LifeStyle also sells high-quality bedding components via exclusive third-party manufacturing partners [1]

Group 1 - The stock price of Nova LifeStyle, Inc. (NVFY) increased by 10.23% on August 23, reaching $1.83 per share, with a trading volume of $142,200 and a total market capitalization of $25.20 million [1] - As of June 30, 2025, Nova LifeStyle reported total revenue of $5.19 million, representing a year-over-year growth of 2.51%, while the net profit attributable to shareholders was -$628,800, showing a significant year-over-year improvement of 68.97% [1] - Nova LifeStyle, Inc. was established on September 9, 2009, in Nevada and operates as a manufacturer of contemporary residential furniture, focusing on current trends and integrating design elements into its product line [1] Group 2 - The company offers a shopping platform that includes retail, online options, and global purchasing services, catering to a dynamic market [1] - Nova LifeStyle also sells high-quality bedding components through exclusive third-party manufacturing partners, leveraging its global network [1]

Group 1 - The core point of the article highlights the stock performance and financial results of Nova LifeStyle, Inc., indicating a significant increase in stock price and a modest revenue growth alongside a notable improvement in net profit loss [1] - As of August 22, the stock price of Nova LifeStyle increased by 6.63%, reaching $1.77 per share, with a total market capitalization of $24.3752 million [1] - Financial data shows that for the period ending June 30, 2025, Nova LifeStyle reported total revenue of $5.1919 million, reflecting a year-on-year growth of 2.51%, while the net loss attributable to shareholders was $628,800, which represents a 68.97% improvement compared to the previous period [1] Group 2 - Nova LifeStyle, Inc. was established on September 9, 2009, in Nevada and operates as a manufacturer of contemporary residential furniture, catering to a dynamic market [1] - The company focuses on current trends and aims to integrate design elements into its product line, offering both standalone and complete room furniture solutions [1] - Through its global network, Nova LifeStyle also sells high-quality bedding components via exclusive third-party manufacturing partners [1]

Group 1 - The core point of the article highlights the financial performance and market position of Nova LifeStyle, Inc., indicating a modest revenue growth and a significant improvement in net profit [1] - As of August 21, the stock price of Nova LifeStyle increased by 2.84%, reaching $1.81 per share, with a total market capitalization of $24.9261 million [1] - Financial data shows that by June 30, 2025, Nova LifeStyle's total revenue is projected to be $5.1919 million, reflecting a year-on-year growth of 2.51%, while the net profit attributable to the parent company is expected to be -$628,800, which is a 68.97% increase compared to the previous period [1] Group 2 - Nova LifeStyle, Inc. was established on September 9, 2009, in Nevada and operates as a manufacturer of contemporary residential furniture [1] - The company focuses on current trends and aims to integrate design elements into its product line, offering both standalone and complete room furniture solutions [1] - Through its global network, Nova LifeStyle also sells high-quality bedding components via exclusive third-party manufacturing partners [1]

Core Viewpoint - Nova LifeStyle, Inc. (NVFY) has experienced significant stock price declines despite some improvements in profitability metrics, indicating challenges in the broader furniture industry and the need for strategic adjustments to meet future demand [1][4][5]. Financial Performance - For Q2 2025, NVFY reported net sales of $2.6 million, a decrease of 4.9% from $2.7 million in Q2 2024, while gross profit increased by 7.5% to $1.3 million from $1.2 million, indicating better cost management [2]. - Year-to-date, NVFY generated net sales of $5.2 million, a 2.5% increase from $5.1 million in the same period of 2024, with gross profit rising 12.5% to $2.5 million from $2.2 million, and net loss reduced to $0.6 million from $2 million [3]. Key Business Metrics - The company shows a mixed performance with declining quarterly sales but improved profitability metrics, suggesting enhanced pricing power or better input cost management [4]. - NVFY has made progress in reducing losses despite subdued demand in the furniture sector, reflecting operational discipline and tighter expense controls [4]. Management Commentary - CEO Xiaohua Lu acknowledged ongoing challenges in the furniture industry but expressed confidence in NVFY's ability to meet customer needs, highlighting encouraging purchase orders and buyer discussions [5]. - Management has increased advances to suppliers to bolster inventory levels in anticipation of demand in the second half of the year, indicating a proactive approach to avoid supply chain constraints [5]. Influencing Factors - NVFY's performance is affected by industry headwinds and internal cost measures, with a modest revenue decline indicating ongoing demand challenges, while the narrower net loss suggests efficiency measures are effective [6]. - The decision to increase supplier advances reflects optimism about future demand and a need to safeguard against potential supply shortages, although it carries risks if expected demand does not materialize [6]. Guidance - Nova LifeStyle did not provide formal forward-looking financial guidance for the remainder of 2025, but management expressed cautious optimism regarding industry volatility and customer activity [7]. Other Developments - During the reported quarter, NVFY did not announce any acquisitions, divestitures, or restructuring measures, continuing to operate its core furniture brands, Nova Brands and Diamond Sofa [8]. - The company focuses on contemporary, mid- to upper-income consumer markets across the United States, China, Southeast Asia, and other regions [9].

Financial Performance - Nova LifeStyle, Inc. reported total revenue of $2.6357 million as of March 31, 2025, representing a year-over-year growth of 10.91% [1] - The company experienced a net loss attributable to shareholders of $338,900, which is an increase of 76.83% compared to the previous year [1] Company Overview - Nova LifeStyle, Inc. was established on September 9, 2009, in Nevada and operates as a manufacturer of contemporary residential furniture [1] - The company focuses on current trends and aims to integrate design elements into its product line, offering both standalone and complete room furniture solutions [1] - Nova LifeStyle also provides a shopping platform that includes retail, online options, and global purchasing services, along with high-quality bedding components through exclusive third-party manufacturing partners [1]