Powell Max (PMAX) shares climbed almost 14% in early Friday trading after the company said it has secured a standby equity line of credit allowing it to issue and sell up to $40 million of its class A ordinary shares to an affiliate of Yorkville Advisors Global.
As part of its efforts to secure the new equity line, Powell Max has issued a $1 million convertible promissory note maturing in November 2025 to Yorkville. It expects to use the new funding vehicle to expand its customer offerings and support other strategic partnerships and investments.
Price: 3.43, Change: +0.41, Percent Change: +13.58
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