Powell Max Limited Announces Partial Exercise of Over-allotment Option
Powell Max Limited - Class A Ordinary Shares (PMAX)
Company Research
Source: GlobeNewswire
HONG KONG, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Powell Max Limited (Nasdaq: PMAX) (the “Company” or “Powell Max”), a financial communications services provider headquartered in Hong Kong, today announced that WallachBeth Capital LLC (the “Underwriter”), as the lead underwriter of the Company’s initial public offering (the “Offering”), has partially exercised the over-allotment option (the “Option”) to purchase an additional 99,765 Class A Ordinary Shares of the Company (the “Additional Shares”) at the public offering price of $4.00 per share. As a result, the Company has raised gross proceeds of $399,060, in addition to the previously gross proceeds of $5,707,000, before deducting underwriting discounts and offering expenses, already received in the Offering. WallachBeth Capital LLC 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 L
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