Powell Max Limited (PMAX) Prices 1.43M Share IPO at $4/sh

Powell Max Limited (Nasdaq: PMAX) today announced the pricing of its initial public offering of 1,426,750 Class A Ordinary Shares at a public offering price of $4 per Share. The Company expects to receive aggregate gross proceeds of $5,707,000 from the Offering, before deducting underwriting discounts and other offering expenses. In addition, the Company has granted the Underwriter a 45-day option to purchase up to an additional 214,012 Shares at the public offering price, less underwriting discounts.

The Shares are expected to being trading on the Nasdaq Capital Market on September 5, 2024, under the symbol “PMAX.” The Offering is expected to close on September 6, 2024, subject to customary closing conditions.

The Company intends to use the net proceeds from the Offering for setting up overseas business entities, branches and offices, potential mergers and acquisitions, repayment of bank loans and for working capital and general corporate use.

WallachBeth Capital LLC (the “Underwriter”) is acting as Lead Underwriter to the Offering and Revere Securities LLC is acting as the Co- Manager to the Offering. K&L Gates is acting as U.S. counsel to the Company, and Hunter Taubman Fischer & Li LLC is acting as U.S. counsel to the Underwriter.

A registration statement on form F-1 (333-279859) related to these securities has been filed with, and declared effective by, the United States Securities and Exchange Commission on September 4, 2024. The Offering is made only by means of a prospectus. Once available, a copy of the final prospectus related to the Offering may be obtained from: the Underwriter, by email at [email protected]. The final prospectus will be filed with the SEC and will be 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.

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