Perfect Corp. completes merger at $2 per eligible share

Shares not designated as dissenting or continuing were exchanged for US$2.00 in cash; continuing shares remained outstanding in the surviving company.

Rhea-AI Filing Summary

Perfect Corp. completed its merger with ProjectNY on October 23, 2026, with Perfect Corp. continuing as the surviving company. At the Effective Time, each issued and outstanding share other than Dissenting Shares and Continuing Shares was canceled for the right to receive US$2.00 in cash per share, without interest and subject to applicable withholding taxes; there were no Excluded Shares. Dissenting Shares were canceled for the right to receive fair-value payment under Section 238 of the Cayman Islands Companies Act. Continuing Shares remained outstanding as ordinary shares, without cash consideration, and Perfect Corp.'s Class A ordinary shares ceased to exist as a separate class.

Immediately following the merger, CyberLink International Technology Corp. directly held 36,960,961 ordinary shares, approximately 68.01% of the surviving company's 54,346,935 outstanding ordinary shares. CyberLink Corp. may be deemed to beneficially own those shares through its wholly owned subsidiary. Perfect Corp. requested suspension of trading in the Class A shares and a Form 25 notice to remove them from listing and registration; it intends to file Form 15 to terminate their registration and suspend applicable reporting obligations.

Key Figures

Merger consideration: US$2.00 per share CyberLink International shares held: 36,960,961 ordinary shares Ownership of surviving company: Approximately 68.01% +2 more

5 metrics

Merger consideration US$2.00 per share Cash consideration for each eligible share

CyberLink International shares held 36,960,961 ordinary shares Directly held immediately following the Effective Time

Ownership of surviving company Approximately 68.01% CyberLink International's share of outstanding ordinary shares immediately following the Effective Time

Surviving company shares outstanding 54,346,935 ordinary shares Immediately following the Effective Time

Merger effective date October 23, 2026 The merger became effective on this date

Key Terms

Continuing Shares, Dissenting Shares, Effective Time, Form 25, +1 more

5 terms

Continuing Shares technical

"Each Continuing Share remained issued and outstanding"

Dissenting Shares regulatory

"The Dissenting Shares were cancelled in exchange"

Dissenting shares are shares held by investors who formally oppose a proposed corporate action—such as a merger or takeover—and choose to demand a cash payment for the value of their stock instead of accepting the deal’s terms. This matters to investors because it can slow or complicate a transaction, trigger a legal process to set a fair price, and affect how much cash a company must pay out, which in turn influences the financial outcome for all shareholders.

Effective Time technical

"the Merger became effective on October 23, 2026"

The exact clock time when a regulatory filing, approval, or corporate action formally becomes legally active; from that moment the change is binding and can be acted on. Investors care because the effective time marks when ownership, rights, trading rules, or new securities take effect — like a light switch turning on a contract or transaction — which determines when risks, benefits and market reactions begin.

Form 25 regulatory

"file with the SEC a notification of removal from listing"

A Form 25 is an official filing with the U.S. Securities and Exchange Commission used to remove a company's stock or other security from a national exchange list. Investors should care because delisting often means less visibility, lower trading volume and wider price swings—similar to a product moving from a major supermarket to a small local market, which can make buying, selling and valuing the security more difficult.

Section 238 regulatory

"in accordance with Section 238 of the Companies Act"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did PERF shareholders receive in the merger?

Each issued and outstanding share other than Dissenting Shares and Continuing Shares was canceled for the right to receive US$2.00 in cash per share, without interest and subject to applicable withholding taxes. There were no Excluded Shares immediately before the Effective Time. Dissenting Shares were canceled for the right to receive fair-value payment under Section 238 of the Cayman Islands Companies Act.

How many shares did CyberLink International hold after the PERF merger?

Immediately following the Effective Time, CyberLink International Technology Corp. directly held 36,960,961 ordinary shares of the surviving company, representing approximately 68.01% of its 54,346,935 outstanding ordinary shares. CyberLink Corp. may be deemed to beneficially own those shares through its wholly owned subsidiary.

What did Perfect Corp. say about PERF trading and SEC reporting after the merger?

Perfect Corp. requested that trading in the Class A ordinary shares be suspended and that a Form 25 notice be filed to remove them from listing and registration. The company intends to file Form 15 to terminate registration of the shares and suspend applicable reporting obligations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/23/2026 - 09:21 AM EDT Accepted by SEC EDGAR 10/23/2026 - 09:20 AM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

Perfect Corp.

(Name of Issuer)

Class A Ordinary Shares, par value of $0.10 per share

(Title of Class of Securities)

G7006A109

(CUSIP Number)

Jau H. Huang
CyberLink International Technology Corp., 15F., No.100, Minquan RD., Xindian Dist.
New Taipei City, Taiwan, F5, 231
886-2-8667-1298

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

10/23/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): G7006A109

1

Name of reporting person

CyberLink Corp.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

SC, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

TAIWAN

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Following consummation of the Merger, the Reporting Person no longer beneficially owns any Class A ordinary shares of the Issuer, the class of securities identified in Item 1. The Continuing Shares remain outstanding as ordinary shares of the Surviving Company, as described in Item 4. The amounts reported in Rows 7 through 13 relate solely to the former Class A ordinary shares and do not report ownership of the ordinary shares of the Surviving Company. Immediately following the Effective Time, the Reporting Person may be deemed to beneficially own 36,960,961 ordinary shares of the Surviving Company, representing approximately 68.01% of its outstanding ordinary shares, through its wholly owned subsidiary, CyberLink International Technology Corp. See Item 5.

SCHEDULE 13D

CUSIP Number(s): G7006A109

1

Name of reporting person

CyberLink International Technology Corp.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

SC, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

VIRGIN ISLANDS, BRITISH

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Following consummation of the Merger, the Reporting Person no longer beneficially owns any Class A ordinary shares of the Issuer, the class of securities identified in Item 1. The Continuing Shares remain outstanding as ordinary shares of the Surviving Company, as described in Item 4. The amounts reported in Rows 7 through 13 relate solely to the former Class A ordinary shares and do not report ownership of the ordinary shares of the Surviving Company. Immediately following the Effective Time, the Reporting Person directly holds 36,960,961 ordinary shares of the Surviving Company, representing approximately 68.01% of its outstanding ordinary shares. See Item 5.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A Ordinary Shares, par value of $0.10 per share
(b)	Name of Issuer: Perfect Corp.
(c)	Address of Issuer's Principal Executive Offices: 14F., NO. 98, MINQUAN RD., XINDIAN DISTRICT, NEW TAIPEI CITY, TAIWAN , 231.
Item 1 Comment: This Amendment No. 3 (this "Amendment No. 3") amends and supplements the Schedule 13D filed with the U.S. Securities and Exchange Commission (the "SEC") on February 13, 2023 (the "Schedule 13D"), as amended by Amendment No. 1 and Amendment No. 2 thereto. This Amendment No. 3 is being filed to report the consummation of the Merger and constitutes an exit filing with respect to the Class A ordinary shares identified in Item 1. This Amendment No. 3 amends and supplements Item 4 ("Purpose of Transaction") and Item 6 ("Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer") and amends and restates in its entirety Item 5 ("Interest in Securities of the Issuer") of the Schedule 13D. Unless otherwise amended or supplemented herein, the disclosures set forth in the Schedule 13D remain unchanged. Capitalized terms used herein but not defined shall have the meanings set forth in the Schedule 13D.
Item 4.	Purpose of Transaction
	Item 4 of the Schedule 13D is hereby amended and supplemented by the following: On October 23, 2026, the Merger was consummated pursuant to the Merger Agreement, dated as of July 10, 2026, by and between ProjectNY ("Merger Sub") and Perfect Corp. (the "Issuer" or the "Company"). Merger Sub merged with and into the Issuer, with the Issuer continuing as the Surviving Company. The Plan of Merger was registered with the Registrar of Companies of the Cayman Islands, and the Merger became effective on October 23, 2026 (the "Effective Time"). At the Effective Time, each Share issued and outstanding immediately prior to the Effective Time, other than Dissenting Shares, Continuing Shares and Excluded Shares, was cancelled in exchange for the right to receive US$2.00 in cash per Share, without interest and subject to any applicable withholding taxes. There were no Excluded Shares immediately prior to the Effective Time. The Dissenting Shares were cancelled in exchange for the right to receive payment of their fair value in accordance with Section 238 of the Companies Act of the Cayman Islands. Each Continuing Share remained issued and outstanding without interruption as one validly issued, fully paid and non-assessable ordinary share, par value US$0.10 per share, of the Surviving Company. No cash consideration was paid in respect of the Continuing Shares. All shares of Merger Sub were cancelled for no consideration. The Continuing Shares held by the Chairwoman Parties and CyberLink International constitute all of the issued and outstanding share capital of the Surviving Company. At the Effective Time, the memorandum and articles of association of the Issuer were amended and restated in accordance with the Merger Agreement, and the Continuing Shares continued as a single class of ordinary shares of the Surviving Company. Accordingly, the Class A ordinary shares identified in Item 1 ceased to exist as a separate class. The Reporting Persons retain their respective direct or indirect interests in the Continuing Shares, but no longer beneficially own any securities of the class identified in Item 1. In connection with the consummation of the Merger, the Issuer requested that the New York Stock Exchange ("NYSE") suspend trading in the Class A ordinary shares and file with the SEC a notification of removal from listing and registration on Form 25 with respect to the Class A ordinary shares. The Issuer intends to file a certification and notice on Form 15 with the SEC to terminate the registration of the Class A ordinary shares under Section 12(g) of the Act and suspend its reporting obligations under Sections 13 and 15(d) of the Act, as applicable.
Item 5.	Interest in Securities of the Issuer
(a)	As a result of the Merger described in Item 4, none of the Reporting Persons beneficially owns any Class A ordinary shares of the Issuer, the class of securities identified in Item 1, or has any voting or dispositive power over any such securities. The information in Rows 7 through 13 of the cover pages to this Amendment No. 3 is incorporated herein by reference. The Reporting Persons retain their respective direct or indirect interests in the Continuing Shares as described in Item 4. Immediately following the Effective Time, CyberLink International Technology Corp. directly holds 36,960,961 ordinary shares of the Surviving Company, representing approximately 68.01% of its outstanding ordinary shares. CyberLink Corp. may be deemed to beneficially own those shares through its wholly owned subsidiary, CyberLink International Technology Corp. These percentages are based on 54,346,935 ordinary shares of the Surviving Company outstanding immediately following the Effective Time.
(b)	See (a) above.
(c)	Except as disclosed in this Amendment No. 3, to the knowledge of each of the Reporting Persons with respect to the persons named in response to Item 5(a), none of the persons named in response to Item 5(a) has effected any transactions in the Class A ordinary shares of the Issuer during the past 60 days.
(d)	Not applicable.
(e)	October 23, 2026. Following consummation of the Merger, none of the Reporting Persons beneficially owns any securities of the class identified in Item 1.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 of the Schedule 13D is hereby amended and supplemented by the following: The information set forth in Item 4 of this Amendment No. 3 is incorporated herein by reference. At the Effective Time, the CyberLink Support Agreement terminated in accordance with its terms, subject to its surviving provisions and liability for any prior breach.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

CyberLink Corp.

Signature:	/s/ Jau H. Huang
Name/Title:	Jau H. Huang/Chairman
Date:	10/23/2026

CyberLink International Technology Corp.

Signature:	/s/ Jau H. Huang
Name/Title:	Jau H. Huang/Director
Date:	10/23/2026