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Perfect Moment Announces Closing of Initial Public Offering

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IPO offering
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Perfect Moment Ltd. (PMNT) closes IPO, raising $8 million through the sale of 1,334,000 shares at $6.00 per share. Proceeds to be used for general corporate purposes and working capital.
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The initial public offering (IPO) of Perfect Moment Ltd. represents a significant milestone for the company, allowing it to raise capital for expansion and operational activities. The IPO was priced at $6.00 per share, with gross proceeds of approximately $8 million. This capital infusion is critical for the company's growth strategy, particularly in enhancing its working capital and bolstering sales and marketing efforts. The successful closing of the IPO could be indicative of investor confidence in Perfect Moment's business model and future prospects.

However, the relatively modest size of the offering suggests a cautious approach by the company or possibly limited market appetite. Investors will closely monitor the company's subsequent performance, especially how effectively the proceeds are utilized to drive growth. Furthermore, the over-allotment option granted to underwriters is standard practice, providing a mechanism to manage additional demand and stabilize the stock price post-IPO. The role of ThinkEquity and Laidlaw & Company as joint book-running managers is also noteworthy, as their reputation and execution capabilities can significantly influence the offering's success.

Perfect Moment operates in the luxury lifestyle sector, a niche market that often demands a high level of brand strength and customer loyalty. The company's focus on combining fashion with technical performance positions it uniquely at the intersection of luxury and sportswear markets. This could potentially tap into the growing consumer trend towards high-end functional apparel. The IPO proceeds earmarked for sales and marketing activities could be crucial in strengthening the brand's presence and competitive positioning within this sector.

The luxury apparel market is highly competitive and sensitive to consumer trends and economic conditions. Perfect Moment's ability to innovate and maintain the perceived value of its products will be essential for long-term success. The company's performance will also depend on its ability to navigate global supply chain issues and adapt to shifts in consumer spending, especially given the current economic uncertainties.

LONDON--(BUSINESS WIRE)-- Perfect Moment Ltd. (“Perfect Moment”) (NYSE American: PMNT), a luxury lifestyle brand that combines fashion and technical performance for its ranges of skiwear, outerwear, swimwear and activewear, today announced the closing of its initial public offering of 1,334,000 shares of its common stock at a public offering price of $6.00 per share, for gross proceeds of approximately $8 million, before deducting underwriting discounts and offering expenses. In addition, Perfect Moment has granted the underwriters a 45-day option to purchase up to an additional 200,100 shares of common stock to cover over-allotments, if any, at the initial public offering price, less the underwriting discount.

The Company intends to use the proceeds for general corporate purposes, including working capital, sales and marketing activities and general and administrative matters.

ThinkEquity and Laidlaw & Company (UK) Ltd. acted as joint book-running managers for the offering.

A registration statement on Form S-1 relating to the shares has been filed with, and declared effective by the Securities and Exchange Commission (“SEC”). This offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004 and on the SEC’s website located at http://www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Perfect Moment
Perfect Moment is a luxury lifestyle brand that combines fashion and technical performance for its ranges of skiwear, outerwear, swimwear and activewear. Perfect Moment creates apparel and products that feature what it believes is an unmatched combination of fashion, form, function and fun for women, men and children.

The idea for the Perfect Moment brand was born in Chamonix, France in 1984, when the professional skier and extreme sports filmmaker, Thierry Donard, began making apparel for his team of free-ride skiers and surfers. Donard used his experience to create designs that were characterized by quality, style and performance to enable his athletes to achieve their perfect ski-run or perfect wave-ride: that “perfect moment.” His designs – combining high performance materials with daring prints and colors – were inspired by his team of free-ride skiers and surfers. Today, the brand continues to draw on its rich heritage of performance garments and statement designs. Retro-inspired vivid and bold color palettes complement technical fabrics to deliver fashion, form, function and fun for women, men and children. Learn more at https://www.perfectmoment.com.

Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Perfect Moment’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Perfect Moment undertakes no duty to update such information except as required under applicable law.

Media

press@perfectmoment.com

Source: Perfect Moment Ltd.

Perfect Moment Ltd. sold 1,334,000 shares in its IPO.

The offering price per share in Perfect Moment Ltd.'s IPO was $6.00.

Perfect Moment Ltd. raised approximately $8 million in its IPO.

Perfect Moment Ltd. intends to use the proceeds for general corporate purposes, including working capital, sales and marketing activities, and general and administrative matters.

ThinkEquity and Laidlaw & Company (UK) Ltd. acted as joint book-running managers for Perfect Moment Ltd.'s IPO.

:PMNT

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