London-based luxury lifestyle brand, Perfect Moment, announced its initial public offering (IPO) terms today, aiming to raise $16 million, which would imply a market cap of $109 million. The company, established in 2012, produces luxury ski outerwear, swimwear, activewear, and accessories such as handwear, headwear, and neckwear. It draws inspiration from extreme sports filmmaker Thierry Donard.
The company operates through e-commerce and wholesale channels as it currently does not have any physical stores. However, expansion plans include opening directly operated stores in strategically chosen cities and pop-up shops in ski resorts.
Perfect Moment reported $24 million in sales for the year ending June 2023. The IPO will see the company offloading 2.5 million shares at a projected range of $6-$7. Calculated at this range's midpoint, the company foresees net proceeds of $14.2 million from the IPO.
The brand intends to list on the Nasdaq under the symbol PMNT. ThinkEquity and Laidlaw & Company have been named as joint bookrunners for the IPO. The announcement was made by Ben Glickman, who did not provide further details about the timeline for the listing.
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