Perfect Moment raises $6.4M via Series AA Preferred; eliminates all convertible debt

Perfect Moment Ltd.

Gross proceeds up to $10M; initial closing of ~$6.4M from 1,723,989 Series AA shares at $5.8005 each; conversion price $1.1601.
Co-founder Max Gottschalk invested $2M; Kahala19 invested $2M and converted its $2M note into common stock, eliminating all convertible debt.
Series AA pays 12% annual cumulative dividends, non-voting; company may force conversion after 6 months if stock trades above 200% of conversion price with sufficient volume.
Net proceeds of ~$5.89M after fees for working capital, strategic growth, and general corporate purposes.
New leadership team (ex-Canada Goose) implementing transformation program focused on cost reduction, margin improvement, and brand elevation.

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Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Perfect Moment Ltd.: Filed Certificate of Designations for Series AA Preferred Stock establishing rights, preferences, and terms (effective 2025-03-28).

Change: charter amendment
Effective: 2025-03-28

Exact text from the filing

On March 28, 2025, the Company filed the Certificate of Designations with the Secretary of State of the State of Delaware to establish the voting rights, powers, preferences and privileges, and the relative, participating, optional or other rights, and the qualifications, limitations or restrictions thereof, of the Series AA Preferred Stock.

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101 governance changes filed in the last 30 days. Browse all governance changes →

Perfect Moment Ltd. filing history →

Source: SEC EDGAR

accession 0001641172-25-002258

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