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Perfect Moment Ltd. (NYSE American:PMNT), currently trading at $0.40 with a market capitalization of $11.47 million, reported Wednesday that it has completed a partial exercise of an over-allotment option related to its recent public offering. According to a statement based on a filing with the Securities and Exchange Commission, the company issued an additional 313,128 shares of common stock. The transaction generated net proceeds of approximately $87,363 after deducting underwriting discounts, commissions, and offering expenses. InvestingPro analysis shows the company is quickly burning through cash, making this capital raise particularly significant.
The over-allotment option was exercised by ThinkEquity LLC, the representative of the underwriters, and the transaction closed Monday. As part of the agreement, Perfect Moment also issued a warrant to ThinkEquity LLC to purchase up to 15,656 shares of common stock at an exercise price of $0.375 per share.
The company stated that it intends to use the net proceeds from this partial over-allotment for general corporate purposes and working capital.
This announcement follows a previously reported underwriting agreement filed on June 30, 2025, in which Perfect Moment agreed to issue and sell 10,000,000 shares of common stock and representative warrants to purchase shares equal to 5% of the total shares offered.
Perfect Moment Ltd. is incorporated in Delaware and is listed on the NYSE American exchange under the ticker PMNT. The information in this article is based on a press release statement and related SEC filing.
In other recent news, Perfect Moment Ltd. has announced its intention to offer shares of common stock in an underwritten public offering. The company plans to sell all shares in the proposed offering, with ThinkEquity appointed as the sole book-running manager. The offering is subject to market conditions, and there are no guarantees regarding its completion or the final terms. Additionally, Perfect Moment Ltd. has appointed Adam Z. Epstein to its Board of Directors. This decision was made by the company’s Board and is effective immediately. Epstein brings extensive experience in capital markets, strategy, and corporate governance. He is currently the Portfolio Manager and Chief Investment Officer at MAZE Investments LLC. Epstein’s appointment will last until Perfect Moment’s 2025 annual meeting of stockholders.
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