Bright Lights Acquisition, a blank check company targeting the consumer products and media, entertainment, and sports sectors, raised $200 million by offering 20 million units at $10.
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Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. The company disclosed that certain investors indicated on 7.5% of the IPO.
The company is led by CEO and Director Michael Mahan, the Vice Chairman and former CEO of Dick Clark Productions, and the former President of the TV Guide Network. He is joined by Co-Chairmen Allen Shapiro and John Howard. Shapiro is known for founding talent management firm Mosaic Media Group, and most recently co-founded Celebrands, which invests in and manages celebrity consumer brands. Howard co-founded Celebrands with Shapiro and is also a Co-Managing Partner of Irving Place Capital.
Bright Lights Acquisition plans to target the consumer products and media, entertainment, and sports sectors, specifically focusing on businesses with enterprise values between $500 million and $1.5 billion.
Bright Lights Acquisition plans to list on the Nasdaq under the symbol BLTSU. Jefferies and Moelis & Company acted as lead managers on the deal.
