Consumer and entertainment SPAC Bright Lights Acquisition files for a $200 million IPO

Bright Lights Acquisition, a blank check company targeting the consumer products and media, entertainment, and sports sectors, filed on Friday with the SEC to raise up to $200 million in an initial public offering.

The Los Angeles, CA-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Bright Lights Acquisition would command a market value of $250 million.

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 specializes in investing in, developing and managing early stage 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 was founded in 2020 and plans to list on the Nasdaq under the symbol BLTSU. The company filed confidentially on October 14, 2020. Jefferies and Moelis & Company are the joint bookrunners on the deal.