Powell Max LTD Successfully Completes Initial Public Offering
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Powell Max Limited Announces Successful IPO Completion
WallachBeth Capital LLC recently shared exciting news regarding Powell Max Limited, a financial communications services provider. The company has finalized its initial public offering (IPO) that has caught the attention of investors and analysts alike.
Details of the Initial Public Offering
Powell Max's IPO involved the release of 1,426,750 Class A Ordinary Shares, each priced at $4. This strategic move has enabled the company to secure a substantial gross investment totaling $5,707,000 before accounting for underwriting discounts and additional offering expenses. These shares are officially listed on the Nasdaq Capital Market under the ticker symbol 'PMAX.'
Underwriting and Advisory Support
WallachBeth Capital acted as the lead underwriter for this IPO, showcasing its role as a key facilitator in this process. Alongside them, Revere Securities LLC co-managed the offering, ensuring all logistics were handled seamlessly. Important legal support was provided by K&L Gates, who represented Powell Max, while Hunter Taubman Fischer & Li LLC were counsel to WallachBeth Capital.
Additional Share Options
As part of the offering, the underwriter has been granted an exciting opportunity to purchase an additional 214,012 shares within a 45-day window, maintaining the initial offering price while allowing for some flexibility in capital acquisition.
Regulatory Filings and Compliance
In accordance with regulatory requirements, a registration statement on form F-1 was filed and subsequently declared effective by the United States Securities and Exchange Commission. This proactive step ensures that investors have access to all necessary documentation about the offerings, primarily through a prospectus outlining critical details.
Availability of the Final Prospectus
Potential investors will be able to obtain the final prospectus once it is made available by the underwriter. This document will provide further insights into the IPO and is designed to inform investors thoroughly about the company's performance and future prospects.
About WallachBeth Capital LLC
WallachBeth Capital LLC stands out as a distinguished provider of capital markets and institutional execution services. The firm boasts a substantial portfolio of investment banking offerings specifically tailored for the healthcare community. Their services encompass everything from initial public offerings to private transactions, ensuring they meet diverse client needs while fostering lasting partnerships between corporate clients and institutional investors.
Frequently Asked Questions
What was the public offering price for Powell Max shares?
The public offering price for Powell Max Class A Ordinary Shares was set at $4 per share.
How many shares were offered in the IPO?
Powell Max Limited offered a total of 1,426,750 Class A Ordinary Shares in its initial public offering.
Who acted as the lead underwriter for the IPO?
WallachBeth Capital LLC served as the lead underwriter for the IPO.
What is the ticker symbol for Powell Max Limited?
The ticker symbol for Powell Max Limited is 'PMAX,' under which it is listed on the Nasdaq Capital Market.
Will there be an option for additional shares?
Yes, the underwriter has a 45-day option to purchase an additional 214,012 shares at the offering price.
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