Perfect Corp. agrees to go-private deal at $2.00 per share

Perfect Corp. (NYSE: PERF), an AI and augmented reality software company, has signed a definitive merger agreement that would take the company private, according to a press release dated July 10, 2026.

Under the terms of the agreement, shareholders will receive $2.00 in cash per ordinary share. The offer represents a premium of approximately 48.1% to the closing price of the company's Class A ordinary shares on March 17, 2026, the last trading day before the company disclosed a preliminary going-private proposal on March 18, 2026. It also represents a premium of approximately 39.6% to the 30-day volume-weighted average closing price prior to that announcement.

The acquiring entity, ProjectNY, is a Cayman Islands company controlled by Alice H. Chang, the company's chairwoman. Concurrent with the signing, Chang and her controlled entities — Golden Edge Co., Ltd., DVDonet.com Inc., and World Speed Company Limited — along with CyberLink International Technology Corp., entered into voting and support agreements. Together, these parties hold approximately 53.4% of total issued and outstanding shares and approximately 81.2% of total voting power.

The merger is expected to be funded through the company's available cash. The company's board of directors, acting on the unanimous recommendation of a special committee of independent directors, approved the transaction and recommended shareholders vote in favor.

The deal requires approval from at least two-thirds of votes cast at an extraordinary general meeting of shareholders. The merger is expected to close in the fourth quarter of 2026, subject to customary closing conditions.

If completed, Perfect Corp.'s Class A ordinary shares will be delisted from the New York Stock Exchange, and its shares and warrants will be deregistered under the U.S. Securities Exchange Act of 1934.

Kroll, LLC is serving as financial advisor and DLA Piper UK LLP as international legal counsel to the special committee. Sullivan & Cromwell LLP is serving as U.S. legal counsel to the merger entity, Chang's affiliated parties, and CyberLink.

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