Powell Max sells 721,000 shares in $721,000 private placement second closing

• Powell Max entered a best-efforts private placement to sell up to 4,000,000 Class C ordinary shares at USD 1 per share.
• First closing on Aug. 24, 2026 raised USD 1.7 million from 1,700,000 Class C shares; net proceeds about USD 1,191,500.
• Second closing on Sept. 30, 2026 raised USD 721,000 from 721,000 Class C shares sold to 16 purchasers.
• Total sold to date: 2,421,000 Class C shares for USD 2,421,000 gross; proceeds earmarked for working capital, general corporate purposes.
• Spartan Capital Securities earned a 10% cash fee per closing; warrants cover 242,100 Class A shares at USD 1.50 exercise.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Powell Max Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-26-106115), on October 02, 2026, and is solely responsible for the information contained therein.