Perfect Corp. And Provident Acquisition Corp. (De-SPAC) – Closed On 28 October 2022

Acted as Cayman Islands counsel to Perfect Corp. ("Perfect"), a Taiwanese global leader in providing augmented reality ("AR") and artificial intelligence ("AI") software-as-a-service ("SaaS") solutions to beauty and fashion industries in connection with its business combination with Provident Acquisition Corp. ("Provident"), a Cayman Islands special purpose acquisition company listed on Nasdaq. The business combination was effected by means of two consecutive mergers. Beauty Corp., a wholly owned subsidiary of Perfect will merge with and into Provident (the "First Merger"), with Provident surviving the First Merger as a wholly owned subsidiary of Perfect; and immediately following the First Merger, Provident will merge with and into Fashion Corp., a wholly owned subsidiary of Perfect (the "Second Merger" and, together with the First Merger, the "Mergers"), with Fashion Corp. surviving the Second Merger as a wholly owned subsidiary of Perfect. As a result of the Mergers, Perfect become a public listed company. Perfect utilizes facial 3D modelling, and AI deep learning technologies to empower world's leading beauty groups such as Chanel, Shiseido, etc with product try-on, facial diagnostics, and digital consultation solutions to provide consumers with ultra-personalized, interactive and engaging omnichannel shopping experience via beauty mirrors comparable to in-store experience. Upon consummation of the business combination, Perfect commenced trading on the New York Stock Exchange on 31 October 2022 and became the first Taiwan-based SaaS company listed on the NYSE. The Business Combination has provided Perfect with approximately US$119 million in gross proceeds. The Maples team comprised partner Juno Huang, Richard Spooner and associate Jessica Zhan. Sullivan & Cromwell LLP acted as US legal advisor to Perfect. Davis Polk & Wardwell LLP acted as US legal advisors to Provident.