Powell Max Limited - PMAX STOCK NEWS

Powell Max (PMAX) has received a notification from Nasdaq indicating non-compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market. The company's shares have traded below the required $1.00 threshold for 30 consecutive business days.

The company has been granted a 180-day compliance period until September 1, 2025, to meet the minimum bid price requirement. To regain compliance, PMAX must maintain a closing bid price at or above $1.00 for at least ten consecutive business days before the deadline.

While the notification does not immediately affect PMAX's listing status on Nasdaq, the company is monitoring the situation and considering potential solutions, including the possibility of implementing a reverse stock split.

Powell Max (NASDAQ: PMAX) has announced its strategic initiative to pursue acquisitions in the financial communications services sector. The company aims to acquire businesses generating between $1.5 million and $5 million in annual revenue, focusing on expanding its market presence in Hong Kong and Asia.

The company plans to maintain existing management teams of acquired companies while adding corporate strategy and business development professionals. Acquired entities will operate semi-autonomously under Powell Max's top management supervision. The strategy targets Hong Kong's robust financial communications market, which serves 2,632 listed companies with a total market capitalization of $4,521 billion.

To support this acquisition strategy, Powell Max has secured a $40 million standby equity line of credit. However, no definitive agreements have been signed yet, and all potential acquisitions remain subject to due diligence and negotiation.

Powell Max (Nasdaq: PMAX) has secured a new financing option through a standby equity line of credit of up to $40 million with YA II PN, , an affiliate of Yorkville Advisors Global, LP. The company has issued a $1 million convertible promissory note to Yorkville due November 2025. The equity line aims to expand Powell Max's portfolio of liquidity solutions and support strategic partnerships in the financial communications sector. The company will file both a Form 6-K and a Registration Statement on Form F-1 with the SEC regarding these transactions.

Powell Max (Nasdaq: PMAX), a Hong Kong-based financial communications services provider, has announced a change in its Chief Financial Officer position. Mr. Chun Ho Lam has resigned due to personal reasons, and the company has appointed Ms. Kam Lai Kwok as the new CFO.

Ms. Kwok brings over 30 years of experience in public accounting and financial management, including more than 20 years in the financial communications and financial printing industry. She has been an associate of the Hong Kong Institute of Certified Public Accountants since January 1997. Prior to joining Powell Max, Ms. Kwok served as an executive director of a Hong Kong listed company in the same industry and as a financial controller of its operating subsidiary for over 8 years.

Powell Max (Nasdaq: PMAX), a Hong Kong-based financial communications services provider, has released its unaudited financial results for the first half of 2024. The company reported a revenue decrease of 11.0% to HK$22.7 million (US$2.9 million) compared to the same period in 2023. Net income fell to HK$0.8 million (US$98,456) from HK$3.6 million in the previous year.

The revenue decline was attributed to reduced capital market activities in Hong Kong, leading to postponed public offerings and transactions. General and administrative expenses increased by 12.7% to HK$6.2 million, while selling and distribution expenses rose by 38.5% to HK$3.0 million. These increases were due to expanded staff numbers and increased marketing efforts. Basic and diluted EPS for the period was HK$0.062 (US$0.008), down from HK$0.285 in the first half of 2023.

Powell Max (Nasdaq: PMAX), a Hong Kong-based financial communications services provider, announced that WallachBeth Capital , the lead underwriter of its initial public offering (IPO), has partially exercised the over-allotment option. This resulted in the purchase of an additional 99,765 Class A Ordinary Shares at $4.00 per share, raising $399,060 in gross proceeds. This is in addition to the previously raised $5,707,000 from the IPO.

The total gross proceeds from the offering now stand at $6,106,060 before deducting underwriting discounts and offering expenses. WallachBeth Capital is acting as Lead Underwriter, with Revere Securities as Co-Manager. K&L Gates and Hunter Taubman Fischer & Li are serving as legal counsel to the Company and Underwriter, respectively.

WallachBeth Capital announced the closing of Powell Max 's (Nasdaq: PMAX) initial public offering. The Hong Kong-based financial communications services provider raised $5,707,000 in gross proceeds by offering 1,426,750 Class A Ordinary Shares at $4 per share. The shares are now listed on the Nasdaq Capital Market under the symbol PMAX.

The underwriter, WallachBeth Capital , has a 45-day option to purchase up to an additional 214,012 shares at the offering price, less underwriting discounts. Revere Securities acted as co-manager for the offering. The IPO was conducted through a registration statement declared effective by the SEC on September 4, 2024.

Powell Max (Nasdaq: PMAX), a Hong Kong-based financial communications services provider, has successfully closed its initial public offering (IPO). The company sold 1,426,750 Class A Ordinary Shares at $4 per share, raising $5,707,000 in gross proceeds before deducting underwriting discounts and other expenses. The shares are now listed on the Nasdaq Capital Market under the symbol 'PMAX'.

WallachBeth Capital acted as Lead Underwriter, with Revere Securities as Co-Manager. Powell Max has granted the Underwriter a 45-day option to purchase up to an additional 214,012 shares at the offering price, less underwriting discounts.

Powell Max (Nasdaq: PMAX) has announced the pricing of its initial public offering (IPO) of 1,426,750 Class A Ordinary Shares at $4 per share. The Hong Kong-based financial communications services provider expects to raise $5,707,000 in gross proceeds. Trading on the Nasdaq Capital Market is set to begin on September 5, 2024, under the symbol 'PMAX'. The offering is expected to close on September 6, 2024.

WallachBeth Capital is acting as Lead Underwriter, with Revere Securities as Co-Manager. The company plans to use the net proceeds for setting up overseas business entities, potential mergers and acquisitions, repayment of bank loans, and working capital. An additional 45-day option to purchase up to 214,012 shares has been granted to the Underwriter.