Perfect Moment announces public offering of common stock

LONDON - Perfect Moment Ltd. (NYSE American:PMNT), a luxury skiwear and lifestyle brand, announced Thursday its intention to offer shares of common stock in an underwritten public offering. All shares in the proposed offering will be sold by the company. The announcement comes as the company faces significant financial challenges, with InvestingPro data showing a concerning debt-to-equity ratio of 7.38 and negative EBITDA of $12.23 million in the last twelve months.

ThinkEquity has been appointed as the sole book-running manager for the offering, which remains subject to market conditions with no guarantee of completion or final terms.

According to the company’s statement, proceeds from the offering will be used for debt repayment, working capital, and general corporate purposes. This capital raise comes at a critical time, as InvestingPro analysis indicates the company is quickly burning through cash, with a market capitalization of just $7.83 million. InvestingPro subscribers have access to 12 additional key insights about Perfect Moment’s financial health.

The securities will be offered and sold through a shelf registration statement on Form S-3 (File No. 333-285612) that was filed with the SEC on March 6, 2025, and declared effective on March 12, 2025.

Perfect Moment, founded in Chamonix, France, specializes in outerwear and activewear that combines technical performance with fashion-forward designs. The company is traded on the NYSE American exchange.

The announcement comes through a press release that notes a preliminary prospectus supplement and accompanying prospectus describing the offering terms has been or will be filed with the SEC. The company emphasized that the press release does not constitute an offer to sell or solicitation to buy securities.

The offering will proceed only through a written prospectus, with copies available from ThinkEquity’s New York office or through the SEC website. The stock, which has declined 78% over the past year and currently trades at $0.42, appears undervalued according to InvestingPro’s Fair Value analysis.

In other recent news, Perfect Moment Ltd. announced the completion of a private placement financing, raising approximately $6.4 million through its 12% Series AA Convertible Preferred Stock. This financing round included participation from co-founder and chairman Max Gottschalk, who invested $2.0 million, and other institutional investors. The funds are earmarked for strategic growth initiatives, working capital, and general corporate purposes. Additionally, Perfect Moment Ltd. has faced compliance issues with the NYSE American LLC’s listing standards, prompting the resignation of Max Gottschalk from certain board committees to align with the exchange’s independence requirements. Despite these challenges, the company is actively working to maintain its listing status by ensuring compliance with regulatory standards. In a move to strengthen its leadership, Perfect Moment Ltd. appointed Adam Z. Epstein to its Board of Directors. Epstein, with a robust background in financial services, brings significant experience in capital markets and corporate governance to the company. These developments reflect Perfect Moment Ltd.’s ongoing efforts to enhance its financial and operational strategies.

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