Shareholders Approve $2.00/Share Take-Private of Perfect Corp
PERF sits 59% above its 52-week low of $1.24.
Summary
Shareholders voted to approve the previously announced $2.00 per share going-private merger with ProjectNY, the vehicle controlled by Alice H. Chang. Turnout was solid: 68.6% of ordinary shares were represented, equal to 87.4% of total voting power, and 99.99% of votes cast were in favor. This clears the key shareholder condition disclosed in the definitive proxy filed August 26; remaining items are the other conditions precedent in the merger agreement. At $1.97, the stock sits just below the $2.00 deal price, so the market is pricing near-certain completion with little spread left. The next milestone is the effective time of the merger and subsequent NYSE delisting/deregistration, which the company says it will pursue as quickly as possible.
At the time of this announcement, PERF was trading at $1.97 on NYSE in the Technology sector, with a market capitalization of approximately $197.6M. The 52-week trading range was $1.24 to $2.15. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.