A leaked document shows that Goldman was in talks with Powa about possibly helping it to raise money through a private placement on the back of what Powa hoped was a transformative deal in China.
In the document, which was written in September last year, Powa was given a preliminary enterprise value of $16 billion to $18 billion as a “base case”. It was described as the “tech investment of the decade” with a “clear path to $50 billion [valuation]”. Anthony Gutman, a senior banker at Goldman, is listed among the “team for Powa Technologies”.
It’s not entirely certain that transformative Chinese deal even existed let along took place…..