Luxury ski and outerwear company Perfect Moment raises $8 million in IPO that prices at low end of range

Perfect Moment Ltd.
PMNT,

said Wednesday its initial public offering priced at $6 a share, the low end of its range. The luxury ski and outerwear company upsized the deal to 1.33 million shares from 1.23 million previously to raise about $8 million in proceeds. With 15.2 million shares expected to be outstanding once the deal closes, the company has a valuation of $91.2 million. Proceeds of the deal will be used for general corporate purposes, including working capital, sales and marketing and general and admin matters. The stock will start trading later Thursday on the NYSE America exchange under the ticker ‘PMNT.’ ThinkEquity and Laidlaw & Co. (UK) Ltd. were the sole underwriters on the deal.