Perfect Corp signs $2/share go-private merger with ProjectNY, ending NYSE run
AI beauty and AR firm Perfect Corp. (NYSE: PERF) has agreed to be taken private at $2.00 per share by ProjectNY, an entity controlled by co-founder Alice H. Chang, valuing the deal at a 48% premium to March pricing.
Key Takeaways
Perfect Corp. (NYSE: PERF) signed a definitive merger agreement on July 10, 2026 to be taken private by ProjectNY, a Cayman Islands entity controlled by co-founder and CEO Alice H. Chang, at $2.00 per share in cash.
The $2.00 price represents a 48.1% premium to the March 17, 2026 closing price and a 39.6% premium to the 30-day volume-weighted average before the initial proposal.
The deal is expected to close in Q4 2026, subject to a two-thirds shareholder vote at an extraordinary general meeting, SEC review, and customary conditions.
Upon closing, Perfect Corp's Class A shares will be delisted from the NYSE and its shares and warrants deregistered under the Securities Exchange Act, ending a public run that began via SPAC in late 2022.
The transaction joins a wave of AI-adjacent go-private deals in early 2026, contrasting with Agility Robotics' $2.5 billion SPAC move to go public the same week.
Kaan Tınmaz
Taiwan-based AI beauty and AR platform Perfect Corp. (NYSE: PERF) has entered a definitive Agreement and Plan of Merger with ProjectNY, an exempted Cayman Islands company controlled by co-founder and CEO Alice H. Chang, in an all-cash go-private transaction valued at $2.00 per ordinary share.
48% premium and a $2.00-per-share cash out
The July 10, 2026 agreement values the deal at roughly a 48.1% premium to Perfect Corp's March 17, 2026 closing price and a 39.6% premium to the 30-day volume-weighted average before the initial proposal, according to the company.
Each outstanding Class A ordinary share will be cancelled in exchange for US$2.00 in cash without interest, and the transaction is currently expected to close in the last quarter of 2026, subject to shareholder approval — including a two-thirds vote at an extraordinary general meeting — SEC review and other customary conditions.
From SPAC debut to buyout
Perfect Corp is best known for its YouCam app suite and B2B SaaS platform, which power AI virtual try-on, skin analysis and content-creation tools for beauty, fashion and photo brands. The company went public via SPAC in late 2022 and has since expanded into generative AI content services, but its shares have traded well below the SPAC reference price for most of the last two years.
If completed, the merger will remove Perfect Corp's Class A ordinary shares from the New York Stock Exchange and deregister its ordinary shares and warrants under the US Securities Exchange Act of 1934, returning the company to private hands.
How much will Perfect Corp shareholders receive in the go-private deal?
Each outstanding Class A ordinary share will be cancelled in exchange for US$2.00 in cash without interest, a 48.1% premium to the March 17, 2026 closing price and a 39.6% premium to the 30-day volume-weighted average before the initial proposal.
Who is taking Perfect Corp private?
ProjectNY, an exempted Cayman Islands company controlled by Perfect Corp co-founder and CEO Alice H. Chang, under an Agreement and Plan of Merger signed July 10, 2026.
When will the merger close and what approvals are needed?
The deal is expected to close in the last quarter of 2026, subject to shareholder approval including a two-thirds vote at an extraordinary general meeting, SEC review, and other customary closing conditions.
What does Perfect Corp do?
Perfect Corp is a Taiwan-based AI beauty and AR platform known for its YouCam app suite and B2B SaaS tools powering AI virtual try-on, skin analysis and content creation for beauty, fashion and photo brands, and has expanded into generative AI content services.
