Perfect Moment Completes $6 Million Bridge Financing As It Plans to Pursue an Initial Public Offering On Nasdaq Later This Year

LONDON, March 29, 2021 (GLOBE NEWSWIRE) -- Perfect Moment, the luxury fashion and sportswear brand, announced today it has closed a $6M bridge loan financing to support its rapid growth and provide funding for international expansion as it prepares for an IPO on Nasdaq later this year.

Commenting on the announcement, Chairman, Max Gottschalk, stated, “Closing this financing is an exciting step for Perfect Moment as it will allow the Company to execute on various attractive growth opportunities. We plan to pursue a Nasdaq IPO later this year which will greatly enhance our access to capital as well as broaden our shareholder base.”

Perfect Moment CEO, Negin Yeganegy, commented, “We have ambitious plans for Perfect Moment and this financing reflects the confidence in our vision. As a brand, Perfect Moment has gained global recognition for our high quality, distinctly fashionable apparel which we plan to build upon to create a recognisable, highly regarded international fashion icon. I am confident the steps we are taking now will position us well for years to come.”

Laidlaw Venture Partners acted as the exclusive introducing broker on the transaction. Montrose Capital Partners was the sponsor for the transaction.

The listing of Perfect Moment’s stock on Nasdaq in connection with an IPO remains subject to the approval of Nasdaq and the satisfaction of all applicable listing and regulatory requirements.

No Offer or Solicitation

This press release is being made pursuant to and in accordance with Rule 135 under the U.S. Securities Act of 1933, as amended. This communication does not constitute an offer to sell or the solicitation of an offer to buy securities and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

About Perfect Moment

Perfect Moment was founded in Chamonix, France, in 1979 by Thierry Donard, French racer turned filmmaker and is currently headquartered in London. Over the years, the brand has combined fashion with function linked to the world of the mountain and sea sports. The Perfect Moment outerwear collections marry the extreme demands of nature with those of city life. Perfect Moment manufactures and directly distributes the clothing and accessories collections under the brand Perfect Moment through its online store and in exclusive international department stores and multi-brand outlets. For more information, please visit https://www.perfectmoment.com.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements,” with respect to management’s beliefs about the financial condition, results of operations and business of Perfect Moment. Forward-looking statements involve risks and uncertainties, are based on the current expectations of the management of Perfect Moment and are subject to uncertainty and changes in circumstances. The forward-looking statements contained herein may include statements about the expected use of proceeds for the bridge financing, anticipated operational enhancements, anticipated capital expenditures and product offerings, the anticipated timing and approval of an initial public offering, anticipated use of proceeds from an initial public offering and other strategic options. Forward-looking statements generally are accompanied by words such as “projects”, “intends”, “expects”, “anticipates”, “targets”, “estimates”, “will” and words of similar import that convey the uncertainty of future events or outcomes. All statements made in this communication that are not historical in nature should be considered forward-looking. By its nature, forward-looking information is not a guarantee of future performance or results and involves risks and uncertainties because it relates to events and depends on circumstances that will occur in the future. Perfect Moment undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

PERFECT MOMENT PRESS CONTACT

Investor Relations ir@perfectmoment.com
Related Links www.perfectmoment.com

PERFECT MOMENT UK LTD.

21 Knightsbridge, London SW1X 7LY [t] +44 203 941 2891