Powell Max raises $2.42M in private placement, taps Spartan for M&A advisory
What's the deal? Powell MaxDealroom has a profile for this one. Try Dealroom → has raised $2,421,000 in gross proceeds from two private placement closings of Class C ordinary shares, the company disclosed in a Form 6-K filed with the US Securities and Exchange Commission. The shares sold at $1.00 each, with the first closing on August 24, 2026, netting $1.7 million from two buyers and the second on September 30 raising $721,000 from 16 purchasers.
The fine print: The Class C shares are convertible into Class A ordinary shares, capped so no holder exceeds 4.99% of outstanding Class A shares. The offering aims to raise up to roughly $4 million on a best-efforts basis and will conclude on reaching that cap or by December 31, 2026, unless extended.
Who's involved? Spartan Capital SecuritiesDealroom has a profile for this one. Try Dealroom → acts as exclusive placement agent, earning a 10% cash fee at each closing plus warrants to buy 242,100 Class A shares at $1.50 each over five years.
What's the endgame? Powell Max also signed a separate 12-month Consulting and M&A Agreement with Spartan dated September 30, 2026, described as "a standalone agreement solely for merger and acquisition advisory and consulting services." It carries a one-time $500,000 cash fee and $700,000 in Class C shares — a combined $1.2 million.
That equity fee is payable on the earlier of the Spartan-linked placement closing or a merger with BlackrodDealroom has a profile for this one. Try Dealroom →, which operates as Remington FirearmsDealroom has a profile for this one. Try Dealroom →. The company plans to use net proceeds for general corporate purposes and working capital.
The signal: At $2.42 million, the raise sits near the bottom of comparable rounds — in the roughly 15th percentile by size. The heavier story is the M&A machinery now in place, with Spartan positioned to advise on a potential tie-up with a well-known firearms brand.
Read more: kalkinemedia.com
Image credit: gags9999
