Perfect Moment, Ltd. closed 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 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.
Image courtesy of Perfect Moment
For more SGB Media coverage on the Perfect Moment IPO, see below.