Powell Max Limited Announces Closing of its Initial Public Offering
HONG KONG, Sept. 06, 2024 (GLOBE NEWSWIRE) -- Powell Max Limited (NASDAQ:PMAX) (the "Company" or "Powell Max"), a financial communications services provider headquartered in Hong Kong, today announced the closing of its initial public offering (the "Offering") of 1,426,750 Class A Ordinary Shares (the "Shares") at a public offering price of $4 per Share. The aggregate gross proceeds from the Offering, before deducting underwriting discounts and other offering expenses, were $5,707,000. The Shares are listed on the Nasdaq Capital Market under the symbol "PMAX."
The Company has granted the Underwriter a 45-day option to purchase up to an additional 214,012 Shares at the Offering price, less underwriting discounts.
WallachBeth Capital LLC (the "Underwriter") acted as Lead Underwriter to the Offering and Revere Securities LLC acted as the Co-Manager to the Offering. K&L Gates acted as U.S. counsel to the Company, and Hunter Taubman Fischer & Li LLC acted as U.S. counsel to the Underwriter.
A registration statement on form F-1 (333-279859) related to these securities has been filed with the United States Securities and Exchange Commission and declared effective on September 4, 2024. The Offering is made only by means of a prospectus. A copy of the final prospectus related to the Offering may be obtained from the Underwriter by email at [email protected]. The final prospectus is available on the SEC's website located at http://www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Powell Max Limited
Powell Max Limited is a financial communications services provider headquartered in Hong Kong. The Company engages in the provision of financial communications services that support capital market compliance and transaction needs for corporate clients and their advisors in Hong Kong. Its financial communications services cover a full range of financial printing, corporate reporting, communications and language support services from inception to completion, including typesetting, proofreading, translation, design, printing, electronic reporting, newspaper placement and distribution. The Company's clients consist of domestic and international companies listed in Hong Kong, together with companies who are seeking to list in Hong Kong, as well as their advisors.
Forward-Looking Statements
This press release contains certain forward-looking statements. Words such as "will," future," "expects," "believes," and "intends," or similar expressions, are intended to identify forward-looking statements. Forward-looking statements are subject to inherent uncertainties in predicting future results and conditions. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
For investor and media inquiries, please contact:
Company Info:
Powell Max Limited
Investor Relations
[email protected] (852) 2158 2888
