CEO Alice Chang-led ProjectNY to Take Perfect Private for $65.67 Million in Cash

Perfect Corp. (PERF) entered a merger agreement on July 10, 2026, to be taken private by ProjectNY, a company controlled by Alice Chang, the CEO of Perfect, in a deal valued at $65.67 million.

Deal Structure:

Each ordinary share of Perfect will be cancelled and cease to exist in exchange for the right to receive $2 in cash per share, representing a premium of 14.94% from the stock’s last close.

Company Profile:

Perfect Corp. is a Taiwan-based software company that provides AI- and AR-powered SaaS solutions for the beauty, fashion, and retail industries. The company offers virtual try-on, skin analysis, and digital customer engagement tools for enterprises, and also develops consumer applications under the YouCam brand for photo, video, and beauty editing.

ProjectNY is an exempted company with limited liability incorporated in the Cayman Islands. It is controlled by Perfect’s CEO Alice Chang.

Deal Details and Timeline:

In March, Perfect received a preliminary non-binding proposal from CyberLink International Technology and CEO Chang that proposed a “going-private” transaction for $1.95 in cash per ordinary share. The stock was trading at $1.35 before the offer was made.

ProjectNY signed separate voting and support agreements with CEO Chang, her controlled entities, GOLDEN EDGE, DVDonet.com, and World Speed (together, the Chairwoman Parties), and CyberLink. Under these agreements, the Chairwoman Parties and CyberLink agreed to vote all of the ordinary shares they own, directly or indirectly, in favor of approving the merger. These shares represented about 53.4% of the issued and outstanding share capital and about 81.2% of the total voting power.

The merger will be funded using the available cash held by the company and its subsidiaries.

The deal is expected to close during the last quarter of 2026.

Kroll and DLA Piper UK are acting as financial and legal advisors, respectively, to Perfect. ProjectNY is being advised by Sullivan & Cromwell and Maples and Calder (Hong Kong) as legal counsel.

ProjectNY is paying 2.51 times the sales for Perfect Corp.

Deal Metrics:

For a comprehensive understanding of this merger and acquisition event, please visit the Deal Metrics page at this link:

Deal Metrics for the acquisition of Perfect Corp. (PERF) by ProjectNY

The Deal Metrics page provides a detailed overview of the merger, including:

• A spread history chart depicting the merger progress from the announcement to completion or failure.
• A timeline of events as the merger progresses, including HSR period expiration, regulatory approvals, shareholder votes, etc.
• Access to news and SEC filings.
• A history of deal updates.
• And much more.

Disclaimer: Please conduct your own due diligence before trading any securities mentioned in this article. We do not guarantee the completeness or accuracy of the content or data provided in this article.

Editor’s Note: Baranjot Kaur contributed to this article