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Perfect Corp. Shareholders Approve $2-Per-Share Buyout to Go Private

BullishHigh impact
PERF$1.99 0.25%

Shareholders of Perfect Corp. (NYSE:PERF) have overwhelmingly approved the company's plan to merge with ProjectNY, an entity controlled by founder and Chief Executive Officer Alice H. Chang. At an extraordinary general meeting, approximately 99.99% of total votes cast supported the merger agreement and related transactions.

The approval clears a key hurdle for the AI-powered beauty and fashion technology firm to go private. Under the terms first agreed upon in July, ProjectNY will acquire all outstanding shares of Perfect Corp. for $2 per share in cash. Shares of the company traded at $1.94 following the vote announcement, up 0.52% on the day.

With shareholder consent secured, the transaction moves toward final execution and closing. Investors will monitor the official completion date, after which the company's shares will be delisted from the stock exchange as it transitions to a private entity.

Key points

  • Perfect Corp. (NYSE:PERF) shareholders approved a merger agreement to take the company private.
  • The merger was supported by roughly 99.99% of all votes cast at an extraordinary general meeting.
  • Acquiring entity ProjectNY is controlled by founder and CEO Alice H. Chang.
  • Shareholders will receive $2.00 per share in cash under the deal signed in July.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

Is Perfect Corp. going private?

Yes. Shareholders approved a merger with ProjectNY, an entity controlled by founder and CEO Alice H. Chang, to take Perfect Corp. private.

How much will Perfect Corp. shareholders receive per share?

Shareholders will receive $2.00 per share in cash as part of the definitive merger agreement.

What percentage of shareholders voted for the Perfect Corp. merger?

Approximately 99.99% of the total votes cast at the extraordinary general meeting were in favor of the merger.