Perfect Corp. going public on Nasdaq through SPAC merger with Provident Capital

Perfect Corp. said Thursday it agreed to go public in a deal with special purpose acquisition company (SPAC) Provident Acquisition Corp.
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that values the Taiwan-based beauty software specialist at $1.02 billion. The deal includes a $50 million private investment in public equity (PIPE) deal with Chanel, Cyberlink, Shiseido and Snap Inc.
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Snap is also an investor in Perfect Corp., along with Goldman Sachs Group Inc.’s
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Goldman Sachs Asset Management unit, Alibaba Group Holding Ltd.
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Hong Kong-based private equity firm Yuanta Asia Investment and investment firm CCV. Perfect Corp. specializes in software for product try-on, facial diagnostics, and digital consultation solutions. It’ll trade under the symbol PERF on the Nasdaq. The deal comes after Provident Acquisition Corp. went public in January, 2021.