Powell Max Limited IPO Raises $5.7 Million with PMAX Shares
![Powell Max Limited IPO Raises $5.7 Million with PMAX Shares](https://investorshangout.com/images/blog/ihnews-Powell%20Max%20Limited%20IPO%20Raises%20%245.7%20Million%20with%20PMAX%20Shares.jpg)
Overview of Powell Max Limited's IPO
Powell Max Limited (NASDAQ: PMAX) has officially priced its initial public offering (IPO) of 1,426,750 Class A Ordinary Shares at $4 per share. This offering is anticipated to generate approximately $5,707,000 in gross proceeds for the company. Before making any deductions for underwriting discounts and additional expenses, these proceeds are crucial for the company's growth strategies.
Expected Trading and Closing Dates
The shares are set to begin trading on the Nasdaq Capital Market under the symbol “PMAX.” This expected commencement of trading is scheduled for September 5, 2024. The IPO is projected to officially close on September 6, 2024, pending the usual closing conditions.
Utilization of Proceeds
The net proceeds from this offering are earmarked for significant initiatives. Powell Max Limited plans to establish overseas business entities and offices, pursue potential mergers and acquisitions, repay bank loans, and support various working capital and corporate needs. This strategic allocation aims to bolster the company's market position and financial flexibility.
Underwriter Information
WallachBeth Capital LLC is serving as the lead underwriter for this offering, while Revere Securities LLC acts as the co-manager. Additionally, K&L Gates is providing legal counsel for the company in the U.S., and Hunter Taubman Fischer & Li LLC is representing the underwriter as legal counsel.
Regulatory Approval
A registration statement on form F-1 (333-279859) for these securities was filed with the U.S. Securities and Exchange Commission (SEC) and has been declared effective. The offering will be conducted solely through a prospectus, ensuring regulatory compliance and transparency for potential investors.
Frequently Asked Questions
What is the share price for Powell Max Limited’s IPO?
The share price for the IPO is set at $4 per share.
How many shares are being offered in the IPO?
The IPO consists of 1,426,750 Class A Ordinary Shares.
What are the plans for the proceeds from the IPO?
Proceeds will be used for establishing overseas entities, potential mergers, and general corporate purposes.
When is the expected trading start date for PMAX shares?
PMAx shares are expected to begin trading on September 5, 2024.
Who is managing the IPO?
WallachBeth Capital LLC is the lead underwriter, with Revere Securities LLC as co-manager.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Related Articles
- Danone Secures €700 Million Bond to Enhance Financial Flexibility
- ViewSonic Sets Industry Benchmark with EPEAT Gold Certification
- Transforming Crypto Trading with Zero Fees and AI Power
- LPL Financial Gears Up for Growth with Investment Center Buyout
- Klépierre's Total Voting Rights and Shares Overview Revealed
- Bonduelle's Comprehensive Overview of Shares and Voting Rights
- SGA Dental Partners Expands with New Practice Acquisition
- Unleash Your Dog's Freedom with PetSafe's Latest GPS Fence
- Powell Max Surges on Debut, Stock Opens Strong at $4.30
- Douglas R. Rippel's Insider Sale of FirstCash Holdings Shares
Recent Articles
- FFWPUI Takes Action Against Preston Moon in Legal Battle
- MCNC Launches Major Broadband Initiative for Rural Connectivity
- Celebrating Excellence: The 71st Scripps Howard Journalism Awards
- Understanding the Evolving Challenges of Addiction in Our Community
- Mine Vision Systems Partners to Transform Central Asian Mining
- Danone Secures €700 Million Bond to Enhance Financial Flexibility
- Vivoryon Therapeutics Completes Significant Capital Changes
- Prominent Leaders Collaborate to Elevate AI Ethics in Ads
- Key Shareholder Insights from Marie Brizard Wine & Spirits
- David Brindley Takes Helm as New CEO of Bidpath
- Drip Capital Secures Major Funding to Propel Future Growth
- pexar by Lexar Unveils Innovative Digital Picture Frame
- Discover the Game-Changing SwitchBot Innovations at IFA 2024
- Join Us at HIMSS25: Embracing Healthcare Innovation Together
- ViewSonic Sets Industry Benchmark with EPEAT Gold Certification
- North End Teleservices Celebrated as Top Small Business Innovator
- Netflix Confirms Fourth Season of Hit Series 'Alpha Males'
- Exciting Collaboration Transforms Hypergalactic on Roblox
- Southwire's 20-Year Commitment to Educating Future Generations
- Lexus Surges Ahead of Toyota in September Inventory Efficiency
- CABEI Takes Action Against Former President for Misconduct
- Market Meltdown: September Discontent and Tech Woes Explained
- Polish Market Declines: WIG30 Experiences Significant Drop
- Tech Stocks Rally: Nvidia, U.S. Steel, and JetBlue Surge
- Bank of America's Top Stock Picks Highlight Growth Opportunities
- Celebrating After-School Programs: Lights On Initiative
- Future Growth of the Medical Device Market by 2033
- Antibody Drug Conjugates Market Insights and Growth Forecast
- Ophthalmic Microscopes Market Growth Drive: Key Insights
- Challenges Facing Trump Media: A Deep Dive into DJT's Decline
- Growth of mHealth Market Driven by Technology and Innovation
- Market Trends: Navigating Recent Labor Data Effects
- Growth Projections for Nutraceutical Excipients Market
- Amazon's E-Commerce and AWS Outlook: A Bright Future Ahead
- Navigating the Current Copper Market and Stock Insights
- Projected Growth of Allergy Treatment Market to $34.9 Billion
- Investing in Casey's General Stores: A 5-Year Journey
- Transform Your $100 Investment in Applied Mat Today
- Blockchain Technology Transformation in Financial Services
- Hooker Furniture Faces Challenges Amid Revenue Gains
- Transforming Crypto Trading with Zero Fees and AI Power
- Element Solutions Sells MacDermid Graphics Solutions Business
- Current Mortgage Trends: Insights from Freddie Mac's Latest Survey
- LPL Financial Gears Up for Growth with Investment Center Buyout
- Rubis Financial Report Highlights and Contact Information
- Understanding Voting Rights of ORAPI Shareholders Today
- Unveiling the Momentum Behind Qifu Technology, Inc.'s Growth Prospects
- Understanding Soitec's Current Share Capital and Voting Rights
- Butterfly Network's iQ3 Device Launch Boosts Stock Performance
- Insights on Worldline's Voting Rights and Share Capital Monthly Report