By Ben Glickman
Perfect Moment expects to sell 2.5 million shares in its initial public offering at an anticipated price range of $6 to $7 a share.
The U.K.-based luxury skiwear brand expects net proceeds of about $14.2 million at the midpoint of the price range.
The company has applied to list its shares on the Nasdaq Capital Market under the ticker PMNT.
In the year ended March 31, the company posted a loss of $10.3 million on sales of $23.4 million.
Perfect Moment said in a regulatory filing that its IPO was meant to increase its capitalization and financial flexibility, as well as visibility in the marketplace. The company said it plans to use proceeds for general corporate purposes.
ThinkEquity and U.K.-based Laidlaw & Co. are serving as the underwriters of the offering.
Write to Ben Glickman at [email protected]
Read the full article here