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Perfect Moment Announces Pricing of Initial Public Offering

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Perfect Moment Ltd. announced the pricing 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. The company intends to use the proceeds for general corporate purposes, including working capital, sales and marketing activities, and general and administrative matters. The shares are expected to begin trading on the NYSE American under the symbol 'PMNT' on February 8, 2024.
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The initial public offering (IPO) of Perfect Moment Ltd. represents a significant milestone for the company and a notable event for investors tracking the luxury lifestyle sector. The pricing at $6.00 per share, with the potential to raise up to $8 million before expenses, indicates a strategic entry point for investors that aligns with the company's growth prospects in the high-end fashion and activewear markets. The additional option for underwriters to purchase further shares to cover over-allotments could stabilize the stock price post-IPO and provide additional capital if exercised.

Given the intended use of proceeds for working capital and sales and marketing activities, it suggests a focus on scaling operations and brand visibility. This could lead to increased market share and revenue growth, which are critical factors for investors. However, the success of these initiatives will depend on the company's execution and the competitive dynamics of the luxury apparel market.

The financial structure of Perfect Moment's IPO, with ThinkEquity and Laidlaw & Company as joint book-running managers, is structured to optimize the capital raise within the regulatory framework set by the SEC. The gross proceeds of approximately $8 million, before deducting underwriting discounts and offering expenses, reflect a cautious yet optimistic valuation by the company, considering the current market conditions and investor sentiment towards luxury lifestyle brands.

Investors will scrutinize the subsequent use of these funds, particularly how they impact the company's balance sheet, cash flow and return on investment. The short-term liquidity provided by the IPO could enhance operational capabilities, but long-term value generation will be contingent upon effective capital deployment and market reception.

The regulatory compliance aspect of Perfect Moment's IPO, including the filing of a registration statement on Form S-1 and the SEC's declaration of effectiveness, is a critical step in ensuring transparency and investor confidence. The legal stipulation that the offering is made only by means of a prospectus and the absence of an offer in jurisdictions where it would be unlawful, underscores the company's adherence to securities laws.

Investors should be aware of the legal frameworks governing the IPO, as they can affect the timing, availability and conditions of the offering. The 45-day option for underwriters to purchase additional shares also adds a layer of complexity, as it could potentially dilute current shareholders but also provide a cushion against market volatility post-IPO.

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 pricing 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 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.

The shares are expected to begin trading on the NYSE American under the symbol “PMNT” on February 8, 2024. The offering is expected to close on February 12, 2024, subject to customary closing conditions.

ThinkEquity and Laidlaw & Company (UK) Ltd. are acting 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, when available, may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004. The final prospectus will be filed with the SEC and will be available 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.

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press@perfectmoment.com

Source: Perfect Moment Ltd.

The initial public offering is priced at $6.00 per share, with gross proceeds of approximately $8 million.

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

The shares are expected to begin trading on the NYSE American under the symbol 'PMNT' on February 8, 2024.

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