Perfect Moment, a luxury lifestyle brand focused on ski apparel and other activewear, lowered the proposed deal size for its upcoming IPO on Friday.
The London, UK-based company now plans to raise $8 million by offering 1.2 million shares at a price range of $6 to $7. The company had previously filed to offer 2.5 million shares at the same range. At the midpoint, Perfect Moment will raise 51% less in proceeds than previously anticipated.
Inspired by the design of extreme sports filmmaker and professional skier Thierry Donard, Perfect Moment creates luxury ski outerwear and accessories (handwear, headwear, neckwear) that are intended to be both fashionable and functional. In 2016, the company also began to offer swimwear and activewear. Without the presence of a physical retail store, Perfect Moment's collections are sold directly to customers through ecommerce as well as through wholesale. Perfect Moment plans to expand by opening directly operated stores in strategically selected major cities and pop-up stores in ski resorts.
Perfect Moment was founded in 2012 and booked $27 million in sales for the 12 months ended September 30, 2023. It plans to list on the NYSE American under the symbol PMNT. ThinkEquity and Laidlaw & Company (UK) are the joint bookrunners on the deal. It is expected to price during the week of January 29, 2024.
