UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2026
Commission File Number: 001-42260
POWELL MAX LIMITED
(Exact name of registrant as specified in its
charter)
22/F., Euro Trade Centre,
13-14 Connaught Road Central,
Hong Kong
(Address of Principal Executive Office)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒
Form 40-F ☐
Indicate by check mark whether the registrant
by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934.
Yes ☐ No ☒
If “Yes” is marked, indicate below the file number assigned
to the registrant in connection with Rule 12g3-2(b): 82-________.
EXPLANATORY NOTE
Attached hereto and incorporated herein is the
Registrant’s press release issued on March 23, 2026, titled “Powell Max Limited Signs Non-Binding Letter of Intent to Acquire
The Boston Solar Company.”
EXHIBIT INDEX
| Exhibit No. |
|
Description |
| 99.1 |
|
Press Release dated March 23, 2026 |
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto
duly authorized.
| |
POWELL MAX LIMITED |
| |
|
|
| |
By: |
/s/ Geordan Pursglove |
| |
|
Geordan Pursglove |
| |
|
Chief Executive Officer |
Date: March 23, 2026
3
Exhibit 99.1
Powell Max Limited Signs Non-Binding Letter of Intent to Acquire
The Boston Solar Company
Boca Raton, FL, March 23, 2026 (GLOBE NEWSWIRE) -- Powell Max Limited
(Nasdaq: PMAX) (“Powell Max” or the “Company”), a financial communications services provider, has signed
a non-binding Letter of Intent, subject to certain customary provisions (the “LOI”) to acquire The Boston Solar Company (“Boston
Solar”), a vertically-integrated regional EPC solar installer, focused in Massachusetts and the broader New England area.
Pursuant to the LOI, the transaction is valued at $9.0 million, including
the assumption of up to $7.0 million debt. Subject to satisfactory completion of due diligence, the parties expect to execute a definitive
agreement no later than May 16, 2026. Following closing, Powell Max expects to provide to Boston Solar up to $20 million in working capital
funding subject to the finalization of the definitive agreement and the Company’s ability to secure capital.
Boston Solar is vertically integrated to ensure the customer gets the
most complete solar system for their needs. From financing to design and installation, Boston Solar does it all with in-house
installers, which are licensed and certified, so that all solar meets the applicable standards.
According to Boston Solar, it increased its revenue in 2025 by 22%
to $24 million annual revenue, resulting in $2 million adjusted net income based on unaudited management accounts of Boston Solar, which
are subject to audit and may be subject to change. The business was comprised of 65% residential and 35% commercial.
Powell Max Chairman and Chief Executive Officer Geordan Pursglove commented,
“I took on this appointment with one clear focus: growth. Our move to begin the acquisition process for Boston Solar reflects that
commitment. As demand for energy rises across the U.S., fueled by AI, automation, and rapid technological change, we believe Boston Solar
offers a strong platform for long-term growth. The future of energy will depend on a range of technologies, and Boston Solar is already
helping power that future today. This is an exciting first step in Powell Max’s larger diversification and expansion strategy.”
Managing Member of Boston Solar and CEO of SinglePoint Inc Wil Ralston
added: “This transaction is transformational for both Boston Solar and Powell Max. Over the past several years, we built Boston
Solar into the dominant vertically integrated solar platform in New England and a brand that resonates throughout New England. To truly
capitalize on the generational opportunity in front of us, Boston Solar needed two things: growth capital and a public market platform
that can move quickly. Powell Max provides both. With up to $20 million in possible working capital, the infrastructure and credibility
of a Nasdaq-listed company, we can now execute on geographic expansion into adjacent Northeast markets and pursue accretive acquisitions
of regional EPCs at a pace that was not previously possible. The solar installation industry remains highly fragmented, there are thousands
of quality regional installers across the country operating without the capital or back-office support to scale. Boston Solar’s
proven, vertically integrated model is the blueprint, and Powell Max now gives us the vehicle to replicate it. We are excited to join
the Powell Max team.”
Boston Solar recently expanded into the commercial market, completing
projects for commercial clients including Fenway Park, home of the Red Sox. Its commitment goes beyond providing clean energy; aiming
to offer energy independence from utilities and protection against rising energy costs. As a fully integrated business, the company supports
customers through every step of the process.
Powell Max intends to retain the current senior management team of
Boston Solar following closing.
Boston Solar is led by its President Mike Morlino, a 22-year U.S. Navy
SEAL distinguished veteran, including service with SEAL Team Six. Prior to joining Boston Solar, Mike Morlino contributed significantly
to Windjammer Capital Investors, managing operational improvement projects at one of their portfolio companies, Fecon, a Cincinnati-based
heavy equipment manufacturer. Mike holds a BS in Business Administration from the University of Maryland Global Campus and an MBA from
the Massachusetts Institute of Technology’s Sloan School of Management
For additional information on Boston Solar, please visit:
https://www.bostonsolar.us
About Powell Max Limited
Powell Max Limited is a financial communications services provider
headquartered in Hong Kong. The Company maintains a U.S. subsidiary incorporated in Delaware, with corporate staff located in Boca Raton,
Florida. The Company engages in the provision of financial communications services that support capital market compliance and transaction
needs for corporate clients and their advisors in Hong Kong. Its financial communications services cover a full range of financial printing,
corporate reporting, communications and language support services from inception to completion, including typesetting, proofreading, translation,
design, printing, electronic reporting, newspaper placement and distribution. The Company’s clients consist of domestic and international
companies listed in Hong Kong, together with companies who are seeking to list in Hong Kong, as well as their advisors.
Forward-Looking Statements
This press release contains certain forward-looking statements, including statements with regard to the Company’s proposed acquisition
of Boston Solar, the expected timing and completion of due diligence and the definitive agreement, the anticipated working capital funding,
the availability of financing, and the expected benefits of the transaction. Words such as “will,” “future,” “expects,”
“believes,” and “intends,” or similar expressions, are intended to identify forward-looking statements. Forward-looking
statements are subject to inherent uncertainties in predicting future results and conditions. Actual results could differ materially from
those described in these forward-looking statements due to certain risk factors detailed in the Company’s filings with the United
States Securities and Exchange Commission (the “SEC”). You are urged to carefully review and consider any cautionary statements
and other disclosures, including the statements made under the heading “Risk Factors” in our most recent annual report on
Form 20-F and other reports and documents that we file from time to time with the SEC. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be
required by law.
Investors Contact:
IR@PMAXltd.com
