Provident Acquisition Corp.
PAQC
NASDAQ Capital Market11.00
USD
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Provident Acquisition Corp.
PAQC
(NASDAQ Capital Market)
Recent
price
11.00
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- Provident Acquisition Corp. Provident Acquisition Corp. is a blank check company, or special purpose acquisition company (SPAC), focused on effecting a merger, capital stock exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, primarily targeting consumption-focused companies with high growth potential in Southeast Asia's technology sector; it generates no operational revenue and holds proceeds from its initial public offering in trust for deployment post-combination. The company offers no core products or services beyond its SPAC structure, which facilitates public market access for private targets through investor capital of approximately $230 million raised via 23 million units priced at $10 each in its January 2021 IPO underwritten by Citigroup. Incorporated in 2020, Provident Acquisition Corp. maintains its headquarters at Unit 11C/D, Kimley Commercial Building, 142-146 Queen's Road Central, Hong Kong, with principal operations spanning North America and Asia. In October 2022, Provident Acquisition Corp. completed a definitive business combination through a reverse merger with Perfect Corp., a provider of augmented reality and artificial intelligence SaaS solutions for beauty and fashion, valuing the deal at a pro forma enterprise value of $1.02 billion and providing up to $335 million in gross proceeds including PIPE financing from investors like CHANEL and Shiseido, forward purchase agreements, and trust proceeds net of redemptions. Post-merger, Perfect Corp. assumed public trading on the New York Stock Exchange under the ticker PERF, with Provident Acquisition Corp. ceasing independent operations as a standalone SPAC and delisting from Nasdaq. As of late 2025, no further acquisitions, strategic shifts, or new combinations have been announced, with units trading over-the-counter under PAQCU amid ongoing market interest in legacy SPAC structures.
Company News
Perfect Corp. and Provident Acquisition Corp. Complete Business Combination
CORRECTING and REPLACING Perfect Corp. and Provident Acquisition Corp. Announce Approval of Business Combination by Provident’s Shareholders
Perfect Corp. and Provident Acquisition Corp. Announce Effectiveness of Registration Statement and Extraordinary General Meeting Date for Proposed Business Combination
Perfect Corp. going public on Nasdaq through SPAC merger with Provident Capital