Perfect Corp agrees to go private at $2.00 a share in founder-led buyout

Perfect Corp., the NYSE-listed maker of the YouCam AI beauty and fashion apps, agreed to go private at $2.00 a share in a founder-led buyout, according to a definitive merger agreement signed July 10, 2026.

The all-cash price is a premium of about 48% over Perfect Corp.'s closing price on March 17, the day before it disclosed a preliminary take-private proposal, and roughly 40% over its 30-trading-day volume-weighted average. Each ordinary share will be cancelled for $2.00 in cash under the deal with ProjectNY, a Cayman Islands entity controlled by founder, chairwoman and CEO Alice H. Chang.

The buyout would cap a retreat from public markets for one of the better-known names in AI-powered augmented-reality beauty tools. Chang’s controlled entities and CyberLink International Technology Corp. together hold about 53.4% of Perfect Corp.'s share capital and about 81.2% of its voting power, and have signed agreements to support the merger, the filing said.

Perfect Corp. said it expects to fund the merger from its own cash and to close in the fourth quarter of 2026, subject to a two-thirds shareholder vote at an extraordinary general meeting and other customary conditions.

With the founder camp already commanding a supermajority of the vote, minority holders have limited leverage to block the deal or press for a higher price, though the extraordinary general meeting is where any challenge would surface.