Perfect Moment (PMNT) announces $6.4 million private placement

Perfect Moment Ltd. (NYSE: PMNT), the high-performance luxury skiwear and lifestyle brand, today announced that it has closed a private placement financing of approximately $6.4 million of its newly created 12% Series AA Convertible Preferred Stock. The 1,723,989 shares of Series AA Convertible Preferred Stock are convertible into shares of common stock at a fixed price of $1.1601 per common share.

Participants in the offering include Max Gottschalk, co-founder and chairman of Perfect Moment, who personally invested $2.0 million, reflecting his continued confidence in the company’s new leadership team and long-term growth strategy. Other investors include institutional investors as well as Kahala19, LLC, who invested a further $2.0 million in the new offering. Kahala also converted its previously issued $2.0 million convertible promissory note into common stock at its original $1.00 per share conversion price. As a result of the conversion, Perfect Moment has eliminated all convertible debt outstanding.

The Company intends to use the net proceeds to support strategic growth initiatives, working capital, and general corporate purposes.

ThinkEquity LLC acted as placement agent in connection with the private placement. Manatt, Phelps & Phillips, LLP represented the Company and Sichenzia Ross Ference Carmel LLP represented the placement agent.

Strategic and Operational Momentum

The investment follows the recent appointment of a new executive leadership team—comprising seasoned operators from Canada Goose—underscoring investor conviction in Perfect Moment’s long-term strategic direction. In a short time, the new team has launched a comprehensive transformation program focused on operational efficiency, sustainable growth, and brand elevation.

Key initiatives already underway include structural cost reductions across the supply chain and corporate functions, enhanced gross margin discipline through improved sourcing and pricing strategies, and more agile inventory and channel management. These efforts are delivering tangible results while building a scalable foundation for growth.

At the same time, the organization is doubling down on its brand-building agenda. With strong alignment between creative and commercial functions, Perfect Moment is focused on expanding its product architecture, accelerating global omnichannel reach, and deepening engagement with its customer base.

“This is a defining moment for the brand,” said Perfect Moment’s President and Chief Creative Officer, Jane Gottschalk. “We’ve always had a clear vision—to create technically beautiful pieces that merge performance with fashion, and speak to a lifestyle that’s bold, active, and expressive. Now, with the right leadership team and infrastructure in place, we believe we finally have the platform to scale that vision globally. It’s incredibly energizing to see the business and brand aligning with such momentum.”

Key Terms of the Offering

Each share of Series AA Preferred Stock is convertible into five shares of the Company’s common stock at the option of the investor, at an initial conversion price of $1.1601 per share, subject to customary adjustments.

Beginning six months after the closing date, the Company may require conversion of the Preferred Stock if its common stock trades above 200% of the then conversion price, with average daily volume exceeding 200,000 shares for 20 out of 30 consecutive trading days, subject to certain conditions.

The Series AA Preferred Stock will pay cumulative cash dividends on each share of Series AA Preferred Stock at an annual rate of 12.00% and is not redeemable. The Series AA Preferred Stock is non-voting, except as required by applicable law.

The Company has agreed to file a resale registration statement with the U.S. Securities and Exchange Commission covering the resale of the shares of common stock underlying the Series AA Preferred Stock.

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