Perfect Corp. Announces Tender Offer To Purchase 16,129,032 Shares

(RTTNews) - Perfect Corp. (PERF), a provider of artificial intelligence (AI) and augmented reality (AR) solutions to beauty, and fashion industries, Monday said it has started a tender offer to buy back up to 16,129,032 shares for $3.10 per share or nearly $50 million.

The company plans to fund the purchase using its cash and cash equivalents.

Proration period and withdrawal rights of the tender offer will expire on December 26.

On November 23, Perfect suspended its $20 million share repurchase program to comply with the U.S. Securities Exchange Act of 1934, as amended, and no further repurchases will be conducted prior to the expiration of 10 business days following the expiration of the tender offer, the company said in a statement.