Recent Updates — PMAX

Powell Max Limited completed two closings of a best-efforts private placement, selling 2,421,000 Class C ordinary shares at $1.00 per share for aggregate gross proceeds of $2,421,000. The company also entered into a Consulting and M&A Agreement with Spartan Capital Securities, agreeing to pay a one-time cash fee of $500,000 and equity fees valued at $700,000 in Class C shares for merger advisory services. Net proceeds from the financing were approximately $1,191,500 after placement agent fees and expenses. The company intends to use the net proceeds for general corporate purposes and working capital. Powell Max Limited operates as a holding company focused on acquiring and developing businesses in various industries.

Powell Max Limited entered into a Share Exchange Agreement with Blackrod Holdings, LLC, the parent company of Remington Firearms, on September 25, 2026. Powell Max will issue approximately 261,531 new Class A ordinary shares to Blackrod in exchange for newly issued membership units representing 1.5% of Blackrod’s equity. This transaction establishes an exclusive 12-month period during which the parties intend to negotiate a definitive merger agreement for Powell Max to acquire majority ownership of Remington Firearms. The estimated enterprise value for the potential full acquisition ranges between $200 million and $250 million. Powell Max Limited operates in the financial communications services industry, providing capital market compliance and transaction support.