Hong Kong’s Camsing International Holding Ltd. proposed Friday to acquire Stan Lee’s Pow! Entertainment Inc. for $11.5 million.

The deal, which must still be approved, would involve a reverse merger, according to documents filed with the Stock Exchange of Hong Kong Ltd. Pow! Entertainment would survive in name, but the company would be controlled by Camsing subsidiary First Creative, which would hold an 85 percent stake.

Lee, who serves as Pow!’s chairman, and Gill Champion, the company’s chief executive, would each receive 7.5 percent equity.

Pow! was traded over the counter until January when it filed documents with the Securities and Exchange Commission to be delisted. In its March 2016 annual report, the company said Lee owned 24.7 percent of Pow! and Champion owned 18.7 percent. Catalyst Investments, a Walt Disney Co. affiliated firm, owned 10 percent of the company, according to the filing.

In Pow! Entertainment’s last quarterly report filed in November, the company said it had lost $1.2 million in the first nine months of 2016. The company had $5.3 million in overall debt and relied on a $680,000 loan from Hong Kong-based Ricco Capital Holdings Ltd. and $183,000 in revenue from its “Stan Lee’s Lucky Man,” a show it produced for British broadcaster Sky1, for operating expenses, according to SEC filings.

Camsing’s Friday filing said the acquisition of Pow! would “produce significant synergy” and allow Lee’s intellectual property held by Pow! to be marketed to an Asian audience.

Lee is also the chairman emeritus of Disney subsidiary Marvel Entertainment, which owns the rights to the bulk of his comic book creations including Spider-Man and X-Men.

Deals & Dealmakers reporter Henry Meier can be reached at [email protected]. Follow him on Twitter @henry_meier.