PAQC

CCV's Portfolio Perfect Corp. and Provident Acquisition Corp. Complete Business Combination

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Tuesday, November 1, 2022
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BEIJING, Oct. 31, 2022 /PRNewswire/ -- CCV's early-stage portfolio company Perfect Corp. ("Perfect"), a global leader in providing augmented reality ("AR") and artificial intelligence ("AI") Software-as-a-Service ("SaaS") solutions to beauty and fashion industries, and Provident Acquisition Corp. (Nasdaq: PAQC; "Provident"), a special purpose acquisition company, today announced the completion of their previously announced business combination (the "Business Combination").

Key Points: 
  • BEIJING, Oct. 31, 2022 /PRNewswire/ -- CCV's early-stage portfolio company Perfect Corp. ("Perfect"), a global leader in providing augmented reality ("AR") and artificial intelligence ("AI") Software-as-a-Service ("SaaS") solutions to beauty and fashion industries, and Provident Acquisition Corp. (Nasdaq: PAQC; "Provident"), a special purpose acquisition company, today announced the completion of their previously announced business combination (the "Business Combination").
  • The listed company resulting from the Business Combination will be called Perfect Corp, and its shares and warrants will commence trading on the New York Stock Exchange under the ticker symbols "PERF" and "PERF WS" respectively, on October 31, 2022.
  • Perfect is also the second IPO that the CCV team has harvested since Arrail Dental (HKSE:6639) was listed in Hong Kong Stock Exchange earlier this year.
  • The PIPE transaction is backed by blue-chip investors including CHANEL, CyberLink, Shiseido, and Snap as well as reputable financial investors.

Perfect Corp. and Provident Acquisition Corp. Complete Business Combination

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Friday, October 28, 2022
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Perfect Corp. (Perfect), a global leader in providing augmented reality (AR) and artificial intelligence (AI) Software-as-a-Service (SaaS) solutions to beauty and fashion industries, and Provident Acquisition Corp. (Nasdaq: PAQC; "Provident"), a special purpose acquisition company, today announced the completion of their previously announced business combination (the Business Combination).

Key Points: 
  • Perfect Corp. (Perfect), a global leader in providing augmented reality (AR) and artificial intelligence (AI) Software-as-a-Service (SaaS) solutions to beauty and fashion industries, and Provident Acquisition Corp. (Nasdaq: PAQC; "Provident"), a special purpose acquisition company, today announced the completion of their previously announced business combination (the Business Combination).
  • Affiliated with Provident Capital, Provident is a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses.
  • New uncertainties and risks arise from time to time, and it is impossible for Perfect or Provident to predict these events or how they may affect Perfect or Provident.
  • Provident's shareholders and other interested persons are advised to read the definitive proxy statement/prospectus, as amended or supplemented, and documents incorporated by reference therein filed in connection with the Business Combination, as these materials contain important information about Perfect, Provident and the Business Combination.

Perfect Corp. and Provident Acquisition Corp. Announce Approval of Business Combination by Provident’s Shareholders

Retrieved on: 
Tuesday, October 25, 2022
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Alice Chang, Founder and Chief Executive Officer of Perfect, commented, This is a momentous day for Perfect, our colleagues, and our partners.

Key Points: 
  • Alice Chang, Founder and Chief Executive Officer of Perfect, commented, This is a momentous day for Perfect, our colleagues, and our partners.
  • I am proud of what Perfect has achieved, and excited about the possibilities our partnership with Provident delivers to us."
  • Under the terms of the business combination agreement between Perfect and Provident, the transaction sets Perfects enterprise value at approximately US$1.02 billion.
  • Provident's shareholders and other interested persons are advised to read the definitive proxy statement/prospectus, as amended or supplemented, and documents incorporated by reference therein filed in connection with the Business Combination, as these materials contain important information about Perfect, Provident and the Business Combination.

Perfect Corp. and Provident Acquisition Corp. Announce Effectiveness of Registration Statement and Extraordinary General Meeting Date for Proposed Business Combination

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Friday, September 30, 2022
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Provident will hold an extraordinary general meeting of its shareholders (the EGM) at 9:00 a.m. Eastern Time on October 25, 2022 to approve, among other things, the Business Combination.

Key Points: 
  • Provident will hold an extraordinary general meeting of its shareholders (the EGM) at 9:00 a.m. Eastern Time on October 25, 2022 to approve, among other things, the Business Combination.
  • Founded in 2015, Perfect is a global leader in providing AR and AI SaaS solutions to beauty and fashion industries.
  • Affiliated with Provident Capital, Provident is a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses.
  • Perfect and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of Provident in connection with the Business Combination.