Core Viewpoint - Powell Max Limited has signed a non-binding Letter of Intent to acquire The Boston Solar Company for a transaction valued at $9.0 million, which includes the assumption of up to $7.0 million in debt [1][2]. Company Overview - Powell Max Limited is a financial communications services provider headquartered in Hong Kong, with a U.S. subsidiary in Delaware and corporate staff in Boca Raton, Florida. The company offers a range of financial communications services to support capital market compliance and transaction needs for corporate clients [9]. - Boston Solar is a vertically-integrated regional EPC solar installer focused on Massachusetts and the broader New England area, providing a complete solar system solution from financing to design and installation [3]. Financial Performance - Boston Solar reported a 22% increase in revenue for 2025, reaching $24 million, with an adjusted net income of $2 million based on unaudited management accounts [4]. Strategic Intent - The acquisition of Boston Solar is part of Powell Max's growth strategy, aiming to capitalize on rising energy demand in the U.S. and to diversify and expand its operations [5]. - Following the acquisition, Powell Max plans to provide Boston Solar with up to $20 million in working capital to support geographic expansion and pursue additional acquisitions in the solar installation industry [2][5]. Management and Leadership - Boston Solar is led by President Mike Morlino, a distinguished U.S. Navy SEAL veteran, who has a background in operational improvement projects [7]. - Powell Max intends to retain the current senior management team of Boston Solar after the acquisition [6].

Core Insights - Powell Max Limited has successfully repositioned itself through corporate restructuring, capital raising, board reconstitution, and regaining Nasdaq compliance [2][3][7] Corporate Restructuring - The company completed a corporate restructuring within a short timeframe, which included appointing a new Chairman and CEO, Geordan Pursglove [2][3] - The Board of Directors was reconstituted with new members, including Andrew Hancox, Phillip Balatsos, Caroline Castleforte, and Lourdes Felix [3][7] Capital Raising - On January 30, 2026, Powell Max completed a private placement financing, raising $17 million from Spartan Capital Securities, LLC [2][7] Nasdaq Compliance - The company regained compliance with Nasdaq's audit committee requirements by February 12, 2026, as confirmed by Nasdaq [3][7] Board of Directors - Geordan Pursglove brings extensive experience in capital markets and corporate governance, having previously led Lixte Biotechnology Holdings [4] - Andrew Hancox has a background in fintech and has raised over $250 million in capital [5] - Caroline Castleforte has experience in organizational leadership and strategic planning within healthcare [6][8] - Lourdes Felix has over 15 years of experience in corporate finance and governance, serving as an audit committee financial expert [9] - Phillip Balatsos has over 25 years of experience in financial markets and public company governance [10] Company Overview - Powell Max Limited is a financial communications services provider based in Hong Kong, offering a range of services including financial printing, corporate reporting, and compliance support for corporate clients [11]

As filed with the U.S. Securities and Exchange Commission on July 19, 2024. Registration Statement No. 333-279859 (Address, including zip code, and telephone number, including area code, of registrant's principal executive offices) __________________________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 __________________________________________ POWELL MAX LIMITED (Exact name of regi ...