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 ...