Perfect Corp. (NYSE:PERF) announced today that its Board of Directors has formed a special committee of three independent, disinterested directors to evaluate a preliminary "going-private" proposal.
The committee, chaired by Philip Tsao and including Chung-Hui (Christine) Jih and Meng-Shiou (Frank) Lee, was established following a non-binding offer received on March 18, 2026, from a consortium led by the company’s Founder and CEO, Ms. Alice H. Chang, and CyberLink International Technology.
The proposal outlines a transaction in which the consortium would acquire all outstanding ordinary shares of Perfect Corp. for US$1.95 per share in cash.
If consummated, the deal would result in the company being delisted from the New York Stock Exchange.
The special committee has been granted full authority to retain independent legal and financial advisors to assist in determining whether the $1.95 valuation represents fair value for shareholders not affiliated with the buying group.
Perfect Corp. is widely recognized as a pioneer in "Beautiful AI," providing augmented reality (AR) and artificial intelligence (AI) solutions that allow consumers to virtually try on makeup, hair colors, and fashion accessories.
While the company has maintained a strong technological lead, its stock price has faced headwinds since its public debut via a SPAC merger.
Analysts suggest that the "going-private" move may be an attempt by management to restructure the company away from the quarterly pressures of the public market, particularly as competition in the generative AI space intensifies.
The company cautioned shareholders that no definitive decision has been made regarding the proposal.
There is currently no guarantee that a formal offer will be executed or that the transaction will receive the necessary regulatory and shareholder approvals.