Prestige Wealth Inc

Prestige Wealth, Inc. engages in providing wealth management and asset management services. Through its subsidiaries, the firm assist its clients in identifying and purchasing well matched wealth management products and global asset management products. The company was founded by Chi Tak Sze on October 25, 2018 and is headquartered in Hong Kong.

HONG KONG, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Prestige Wealth Inc. (NASDAQ: PWM) (“PWM”, or the “Company”), a wealth management and asset management services provider based in Hong Kong, today announced that, on November 12, 2024, it entered into a definitive acquisition agreement pursuant to which PWM will purchase all shares of Tokyo Bay Management Inc. (“Tokyo Bay”), a company incorporated under the laws of the British Virgin Islands. The total purchase price is US$1,500,000, subject to customary closing purchase price adjustments, in the form of 2,500,000 newly issued Class B ordinary shares of the Company at a price per Class B ordinary share of US$0.60 to the seller and key employees of Tokyo Bay. The Company will also grant warrants to purchase 1,875,000 Class A ordinary shares of the Company at an exercise price per share equal to US$0.72 to the seller parties. The warrants will become exercisable on the six-month anniversary of the issuance date and will expire on the fifth anniversary from the date on which they become exercisable. In addition, key employees will be retained and continue to be employed by Tokyo Bay after closing of the transaction. The acquisition agreement also includes a third-year period non-competition and non-solicitation covenants from the seller parties. Upon consummation of the acquisition of Tokyo Bay, that certain business development & marketing agreement by and between PWM and Tokyo Bay dated as of June 24, 2024 will be terminated. The acquisition of Tokyo Bay is expected to close in the fourth quarter of 2024 and will enhance PWM's strategy and development in Asia wealth management industry.

Prestige Wealth Inc. Announces Acquisition of Tokyo Bay

HONG KONG, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Prestige Wealth Inc. (NASDAQ: PWM) (“PWM”, or the “Company”), a wealth management and asset management services provider based in Hong Kong, today announced that, on November 5, 2024, it entered into a definitive acquisition agreement pursuant to which PWM will purchase all shares of InnoSphere Tech Inc.(“InnoSphere Tech”), a company incorporated under the laws of the British Virgin Islands. The total purchase price is US$2,100,000, subject to customary closing purchase price adjustments, in the form of 3,500,000 newly issued Class B ordinary shares of the Company at a price per Class B ordinary share of US$0.60 to the seller and key employees of InnoSphere Tech. The Company will also grant warrants to purchase 2,625,000 Class A ordinary shares of the Company at an exercise price per share equal to US$0.72 to the seller parties. The warrants will become exercisable on the six-month anniversary of the issuance date and will expire on the fifth anniversary from the date on which they become exercisable. In addition, key employees will be retained and continue to be employed by InnoSphere Tech after closing of the transaction. The acquisition agreement also includes a third-year period non-competition and non-solicitation covenants from the seller parties. The acquisition of InnoSphere Tech is expected to close in the fourth quarter of 2024 and will enhance PWM's technology strength in artificial intelligence space and facilitate PWM's development of AI-driven technology services to business clients in wealth management area.

Prestige Wealth Inc. Announces Acquisitions of InnoSphere Tech and Closing of Acquisition of Wealth AI

HONG KONG, Aug. 23, 2024 (GLOBE NEWSWIRE) -- Prestige Wealth Inc. (NASDAQ: PWM) (“PWM”, or the “Company”), a wealth management and asset management services provider based in Hong Kong, today announced that, on August 20, 2024, it entered into a definitive acquisition agreement pursuant to which PWM will purchase all shares of SPW Global Inc, a company incorporated under the laws of the British Virgin Islands, which in turn wholly owns Wealth AI PTE LTD. or Wealth AI, a company incorporated under the laws of Republic of Singapore. The total purchase price is US$4,500,000, subject to customary closing purchase price adjustments, with US$3 million being paid in cash and the remaining US$1.5 million being settled in the form of 1,900,000 class A ordinary shares and 500,000 class B ordinary shares of the Company issuable to the seller and key employees of Wealth AI. In addition, key employees will be retained and continue to be employed by Wealth AI after closing of the transaction. The acquisition agreement also includes a third-year period non-competition and non-solicitation covenants from the seller parties. The transaction is expected to close in the fourth quarter of 2024 and will enhance PWM's technology strength in artificial intelligence space and facilitate PWM's development of next-generation AI-driven wealth management solutions for its clients.

Prestige Wealth Inc. Announces Acquisition of Wealth AI, an AI-Driven Wealth Management Solution Provider

HONG KONG, July 26, 2024 (GLOBE NEWSWIRE) -- Prestige Wealth Inc. (NASDAQ: PWM) (“PWM”, or the “Company”),  a wealth management and asset management services provider based in Hong Kong, today announced that, on July 23, 2024, the Company received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that based on the closing bid price of the Class A ordinary shares of the Company for the last 33 consecutive business days, the Company no longer meets the continued listing requirement of Nasdaq under Nasdaq Listing Rules 5550(a)(2), to maintain a minimum bid price of $1 per share.

Prestige Wealth Inc. Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency

Prestige Wealth (NASDAQ: PWM) stock price jumped sharply on Wednesday as it went through a strong short squeeze. It jumped by more than 43% in the regular session and over 24% in the extended hours.

Prestige Wealth (PWM) stock has gone parabolic but faces risks

HONG KONG , Dec. 1, 2023 /PRNewswire/ -- Prestige Wealth Inc. (Nasdaq: PWM) (the "Company" or "Prestige Wealth"), a wealth management and asset management services provider based in Hong Kong, today announced its unaudited financial results for the six months ended March 31, 2023. Mr. Hongtao Shi, the Company's Chairman and Chief Executive Officer, commented, "Reflecting upon the first half of fiscal year 2023, we faced some undeniable headwinds in our wealth management business, largely stemming from the ramifications of the COVID-19 pandemic.

Prestige Wealth Inc. Announces First Half of Fiscal Year 2023 Financial Results

Hong Kong, July 31, 2023 (GLOBE NEWSWIRE) -- Prestige Wealth Inc. (Nasdaq: PWM) (the “Company” or “Prestige Wealth”), a wealth management and asset management services provider based in Hong Kong, today announced that the Company will change its business address and mailing address to Suite 3201, Champion Tower, 3 Garden Road, Central, Hong Kong, effective July 31, 2023.

Prestige Wealth Inc. to Change Business Address

Shares of Prestige Wealth Inc. PWM, +49.19% soared 51.8% in volatile afternoon trading Monday, to trade 479.6% above what the Hong Kong-based wealth management company's initial public offering priced at on July 6. The stock has rallied as much as 62.0% intraday before paring some gains.

Prestige Wealth stock soars again, to trade 480% above IPO price in 3 days

Hong Kong, July 10, 2023 (GLOBE NEWSWIRE) -- Prestige Wealth Inc. (Nasdaq: PWM) (the “Company” or “Prestige Wealth”), a wealth management and asset management services provider based in Hong Kong, today announced the closing of its initial public offering (the “Offering”) of 1,000,000 ordinary shares at a public offering price of US$5.00 per share. The ordinary shares began trading on the Nasdaq Capital Market on July 6, 2023 under the ticker symbol “PWM.”

Prestige Wealth Inc. Announces Closing of Initial Public Offering

Shares of Hong Kong wealth management firm Prestige Wealth (NASDAQ: PWM ) are surging higher more than 100% today following its initial public offering (IPO) yesterday. During the IPO, 1 million shares were offered to the public at an initial price of $5 per share.

Prestige Wealth IPO Lifts Hong Kong Stocks TOP, HKD, MEGL

The shares of Prestige Wealth (NASDAQ: PWM ), a Hong Kong-based wealth management and asset services provider, just started trading yesterday. Today PWM stock is trending on social media and is up more than 120%.

PWM Stock Alert: What Is Going on With Prestige Wealth Shares?

Prestige Wealth Inc (NASDAQ: PWM) stock price made headlines on Thursday when it almost doubled on its first trading day. The shares jumped to $5.40 on Thursday, giving it a market cap of over $48 million.

Prestige Wealth stock: Learn from TOP, AMTD and avoid PWM

Hong Kong, July 06, 2023 (GLOBE NEWSWIRE) -- Prestige Wealth Inc. (the “Company” or “Prestige Wealth”), a wealth management and asset management services provider based in Hong Kong, today announced the pricing of its initial public offering (the “Offering”) of 1,000,000 ordinary shares at a public offering price of US$5.00 per ordinary share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected commence trading on July 6, 2023 under the ticker symbol “PWM.”

Prestige Wealth Inc. Announces Pricing of Initial Public Offering

Prestige Wealth has filed to raise $15 million in a U.S. mini-IPO. The Hong Kong-based company provides wealth and asset management services to high net worth individuals and families in China.

News for Prestige Wealth Inc Stock (PWM)