WASHINGTON (dpa-AFX) - Perfect Moment Ltd. (PMNT), a luxury lifestyle brand that combines fashion and technical performance for its ranges of skiwear, outerwear, swimwear and activewear, said it has priced its initial public offering of about 1.33 million shares of its common stock at $6.00 per share, for gross proceeds of about $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 plans 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.
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