A special purpose vehicle (SPV) controlled by Ms. Alice H. Chang, Perfect Corp.’s founder, chairwoman and chief executive officer, entered into a going-private merger agreement with Perfect Corp., implying an equity value of $204 million.
Following the closing of the transaction, Perfect will become a privately held company and will be delisted from the New York Stock Exchange.
Founded in 2015, Perfect is a leading AI technology company delivering self-developed AI- and AR-powered solutions for the beauty and fashion industries.
Sullivan & Cromwell is acting as legal counsel to the SPV.
The team is led by Ching-Yang Lin and includes Joon Seok Hong, Brian Hu, Yue Li and trainee solicitor Hannah Lee.