TBS Capital LP, one of Strattners’ funds, made a $15 million commitment to Powerbridge Technologies (NASDAQ: PBTS), a China-based technology company specializing in SaaS solutions for trade, logistics, and blockchain applications. The investment supported Powerbridge’s strategic initiatives, including its exploration of renewable energy technologies and its ambitions in the blockchain and cryptocurrency mining sectors. This financial backing laid the foundation for the company’s rebranding as X3 Holdings (NASDAQ: XTKG), reflecting its broader focus on innovation and diversified technology solutions.
At the time, PBTS faced significant challenges, including a steadily declining stock price and heightened short interest, which created a volatile trading environment and reduced investor confidence. These factors made it difficult for the company to attract new capital and execute its growth initiatives. The investment by TBS Capital LP provided much-needed liquidity and strategic support, enabling PBTS to stabilize its operations and rebrand as X3 Holdings (NASDAQ: XTKG), signaling a fresh start and renewed focus on innovation and diversified technology solutions.