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.

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.
Snap is also an investor in Perfect Corp., along with Goldman Sachs Group Inc.’s

Goldman Sachs Asset Management unit, Alibaba Group Holding Ltd.
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.