BrightSpark Capitol, a blank check company targeting health, wellness, and beauty consumer businesses, filed on Monday with the SEC to raise up to $200 million in an initial public offering.
The Arlington, VA-based company plans to raise $200 million by offering 20 million units at $10. Each unit will consist of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, BrightSpark Capitol will command a market value of $250 million.
The company is led by Co-CEO and Co-Chairman Helena Foulkes, who previously was CEO of Hudson's Bay Company from 2018 to 2020 and served as President of CVS Pharmacy and EVP of CVS Health prior to that. She is joined by Co-CEO and Co-Chairman Marla Beck, who co-founded Bluemercury in 1999 and currently serves as CEO. BrightSpark Capitol intends to focus on differentiated, digitally forward consumer businesses, including those in the health, wellness, and beauty sectors.
BrightSpark Capitol was founded in 2021 and plans to list on the Nasdaq. The company has not yet chosen a ticker (RC ticker: BSCU.RC). Goldman Sachs is the sole bookrunner on the deal.
