Perfect Moment Prices Initial Public Offering Of 1,334,000 Common Shares At $6/Share For $8M In Gross Proceeds
Portfolio Pulse from Benzinga Newsdesk
Perfect Moment Ltd. (NYSE:PMNT), a luxury lifestyle brand, announced the pricing of its initial public offering (IPO) of 1,334,000 shares at $6.00 per share, aiming to raise $8 million in gross proceeds. The company also granted underwriters a 45-day option to purchase up to an additional 200,100 shares to cover over-allotments.
February 08, 2024 | 7:33 am
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Perfect Moment Ltd. has priced its IPO at $6.00 per share, with the goal of raising $8 million in gross proceeds. The company also offers an option for underwriters to cover over-allotments.
The successful pricing of Perfect Moment's IPO at $6.00 per share, aiming to raise $8 million, indicates a positive market reception and financial backing for the company's growth strategies. The option for underwriters to purchase additional shares to cover over-allotments further suggests confidence in the stock's performance. This event is likely to generate investor interest and could lead to a short-term increase in the stock price, given the visibility and capital infusion associated with IPOs.
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