Perfect Corp PERF shares are trading higher. The company on Monday announced the commencement of a tender offer to purchase shares above the current share price.
What Happened: Perfect Corp commenced a tender offer to purchase up to 16.13 million shares at a price of $3.10 per share, net to the seller in cash. The aggregate purchase price will be no more than $50 million and the company will use funds available from its cash and equivalents position.
Each shareholder will be able to indicate how many shares it wishes to tender. Shares tendered may be subject to proration if more than 16.13 million shares are validly tendered.
Perfect Corp provides augmented reality and artificial intelligence Software-as-a-Service solutions to the beauty and fashion industries.
See Also: Why Is Software Company Cerence Stock Trading Higher Monday?
PERF Price Action: Perfect Corp shares were up 16.8% at $2.92 at the time of publication, according to Benzinga Pro.
Photo: 3844328 from Pixabay.
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