Bright Lights Acquisition in a regulatory filing included an investor presentation highlighting its proposed merger with MANSCAPED, a men’s lifestyle consumer brand. The deal implies a combined company enterprise value of approximately $1 billion.
If approved, Manscaped Holdings would list on the Nasdaq under MANS.
MANSCAPED sells a line of below-the-waist grooming products that include tools, formulations, and accessories.
As announced last November, the transaction would provide $305 million in gross proceeds to the company if there are no redemptions by Bright Lights shareholders, including a $75 million fully-committed PIPE at $9.20 per share from investors that include actor Channing Tatum, funds managed by UBS O’Connor, Shaolin Capital Management, Signia Venture Partners, Guggenheim Investments, Endeavor, and an affiliate of Saban Capital Group.
All MANSCAPED shareholders are expected to roll their equity holdings into the newly public company. After closing, assuming no redemptions, the company expects to have $235 million on the balance sheet and no debt. Read more.
