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PMAX SCHEDULE 13D: Activist campaign

Filed with the SEC on · accession 0000921895-26-003015

PMAX filed a SCHEDULE 13D (schedule 13d) with the SEC on Nov 10, 2026. Hyperscale Data, Inc. and affiliated entities, led by Milton C. The stock moved +0.1% by the first close after the filing.

Summary of the filing

Hyperscale Data, Inc. and affiliated entities, led by Milton C. Ault III, filed a Schedule 13D disclosing beneficial ownership of approximately 21.7% of Powell Max Ltd's Class A Ordinary Shares, indicating an active investment position.

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Key details

Aggregate purchase price of 266,246 shares beneficially owned by Alpha Structured Finance LP$160K
Reporting person; holder of majority equity interests of ault capital group, inc.; beneficial owner of 609,597 shares (21.6%)Hyperscale Data, Inc.
Reporting person; direct beneficial owner of 266,246 shares (9.4%)Alpha Structured Finance LP
Reporting person; general partner of alpha structured finance lpAlpha Structured Finance GP LLC
Reporting person; investment manager of alpha structured finance lpACG Alpha Management LLC
Reporting person; beneficial owner of 343,351 shares (12.2%)Ault Lending, LLC
Reporting person; holder of all equity interests of acg alpha management llc and ault lending, llcAult Capital Group, Inc.
Issuer/subject companyPowell Max Ltd
Executive chairman of hyperscale data, inc. and ault capital group, inc.; ceo and chief investment officer of acg alpha management llcMilton C. Ault III

How PMAX stock reacted

Close before

$0.80

Nov 9, 2026

First close after

+0.08%

$0.80

5 trading days

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Since filing

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Frequently asked questions

What did PMAX file with the SEC on Nov 10, 2026?

PMAX filed a SCHEDULE 13D (Activist campaign). Hyperscale Data, Inc. and affiliated entities, led by Milton C. Ault III, filed a Schedule 13D disclosing beneficial ownership of approximately 21.7% of Powell Max Ltd's Class A Ordinary Shares, indicating an active investment position.

What does a activist campaign mean for PMAX stock?

A settlement removes uncertainty; the stock often reacts to whether the amount is bigger or smaller than investors expected.

How do I read a SCHEDULE 13D?

A report the company filed with the SEC (the US market regulator). Start with the summary, then the key amounts and names. Compare it with the company’s earlier filings.

Why are SEC filings important?

Public companies must tell the SEC about anything that can change their value — results, leadership changes, big deals, new shares, bankruptcy. Filings are the official source, often before the news. A SCHEDULE 13D (schedule 13d): A report the company filed with the SEC (the US market regulator).

How did PMAX stock react to this filing?

PMAX closed at $0.80 before the filing and $0.80 on Nov 10, 2026 (+0.08%).

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