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MANSCAPED™, a Leading Men’s Lifestyle and Consumer Brand, to Become a Publicly Traded Company via Business Combination with Bright Lights Acquisition Corp.
SAN DIEGO, Calif. (Nov. 23, 2021) ― MANSCAPED™, the leading men’s lifestyle consumer brand and male grooming category creator, and Bright Lights Acquisition Corp. (“Bright Lights”) (Nasdaq: BLTS), a publicly-traded special purpose acquisition company, announced today they have entered into a definitive business combination agreement that will result in MANSCAPED becoming a public company.
The transaction, expected to close in the first quarter of 2022, implies an enterprise valuation of approximately $1 billion. The combined company expects to apply to be listed on the Nasdaq under the new ticker symbol “MANS” and will be led by MANSCAPED’s Founder and CEO, Paul Tran.
MANSCAPED was founded in 2016 and quickly rose to become a preferred brand among consumers and celebrities alike as the pioneer of men’s below-the-waist grooming, commonly referred to as “manscaping.” Their presence extends to top Hollywood stars, with fans including Channing Tatum who will become an investor and another creative content partner for the Company as part of the transaction.
MANSCAPED’s profitable omnichannel business model has allowed it to grow from approximately $3 million in TTM revenue to nearly $300 million in just three years while only utilizing $23 million of raised equity. Further, with this transaction, the high-growth brand expects to exceed $500 million in revenue by 2023 through international growth and product expansion, furthering its lead in the male self-care category.
Paul Tran, CEO of MANSCAPED, commented, “The process of going public is a crucial milestone in our journey. The capital raised in this transaction will drive our ability to serve more men in more markets around the world, while also allowing us to grow the MANSCAPED routine into additional personal care and lifestyle product spaces."Read More
What we've done in the last 3 years...
4 million trimmers deployed
in the last 3 years
income adjusted men ages 18 to 54 worldwide(2,3)
U.S. men ages 18 to 54(1)
U.S. male millennials(1)
"MANSCAPED’s Lawn Mowers® are like toothbrushes, every man needs it, no one wants to share it."
Founder + CEO
With over 900,000,000 men in our target demographics worldwide, many of whom do not have a personal groin trimmer, there is vast opportunity for further exponential growth.
We’ve proven that we can be successful at retail
With over 1,000,000+ subscribers on our Peak Hygiene Plan, we’ve proven that we've created a thriving membership program that caters to our customers’ wants and needs.
We’ve proven that we can expand beyond the groin into the $70B(4) global male grooming market
We’ve proven that our customers REPEAT(5). They love to replenish their favorite products or try new ones from a brand they trust.
Continue to dominate and grow groin care
MANSCAPED defines the male self-care category. 900M men worldwide(2,3) will need a personal groin trimmer. We will continue to expand our lead in this category.
Continue to expand beyond the groin
MANSCAPED has earned our customers’ permission to take care of them from head to toe. We will continue to expand product offerings to cater to their every need as we continue to thrive in the $70B(6) global male grooming market.
Continue creating additional routines
MANSCAPED created the groin care routine. We will continue to develop additional routines that combine a mix of premium hard goods and consumable products to meet the needs of every man and their routines.
Continue to expand globally
MANSCAPED has a presence in 38 countries. We will continue to expand our reach in these territories and launch into new ones.
(1) U.S. population data per U.S. Census Bureau, 2018 (2) Global market size from World Population Prospects, 2019 (3) Income adjusted population calculated by filtering World Population statistics by High and Upper-Middle Income countries, men aged 20-54 (4) TTM revenue reflects trailing twelve months of net revenue (5) US D2C Repeat Customers (6) Grooming market size per Statista
This presentation (this “Presentation”) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination between Manscaped Holdings, LLC and its subsidiaries (“Manscaped”) and Bright Lights Acquisition Corp. (“Bright Lights”) and related transactions (the “Business Combination”) and for no other purpose. This Presentation and any oral statements made in connection with this Presentation do not constitute an offer to sell, or a solicitation of an offer to buy, or a recommendation to purchase, any securities in any jurisdiction, or the solicitation of any vote, consent or approval in any jurisdiction in connection with the Business Combination or any related transactions, nor shall there be any sale, issuance or transfer of any securities in any jurisdiction where, or to any person to whom, such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. This Presentation does not constitute either advice or a recommendation regarding any securities. Any offer to sell securities will be made only pursuant to a definitive subscription agreement (a “Subscription Agreement”) and will be made in reliance on an exemption from registration under the Securities Act of 1933, as amended, for offers and sales of securities that do not involve a public offering.
Forward Looking Statements
Certain statements included in this Presentation are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity. These statements are based on various assumptions, whether or not identified in this Presentation, and on the current expectations of Manscaped’s management and are not predictions of actual performance. There may be additional risks that neither Bright Lights nor Manscaped presently know or that Bright Lights and Manscaped currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Bright Lights’ and Manscaped’s expectations, plans or forecasts of future events and views as of the date of this Presentation. Bright Lights and Manscaped anticipate that subsequent events and developments will cause Bright Lights’ and Manscaped’s assessments to change. However, while Bright Lights and Manscaped may elect to update these forward-looking statements at some point in the future, Bright Lights and Manscaped specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Bright Lights’ and Manscaped’s assessments as of any date subsequent to the date of this Presentation. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Use of Projections
The projections, estimates and targets in this Presentation are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond Bright Lights’ and Manscaped’s control. While all projections, estimates and targets are necessarily speculative, Bright Lights and Manscaped believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection, estimate or target extends from the date of preparation. The assumptions and estimates underlying the projected, expected or target results are inherently uncertain and are subject to a wide variety of significant business, economic, regulatory and competitive risks and uncertainties that could cause actual results to differ materially from those contained in such projections, estimates and targets. The inclusion of projections, estimates and targets in this Presentation should not be regarded as an indication that Bright Lights and Manscaped, or their respective representatives, considered or consider the financial projections, estimates and targets to be a reliable prediction of future events. Important Information for Investors and Stockholders.
Bright Lights and Manscaped and their respective directors and executive officers, under SEC rules, may be deemed to be participants in the solicitation of proxies of Bright Lights’ shareholders in connection with the Business Combination. Investors and security holders may obtain more detailed information regarding the names and interests in the Business Combination of Bright Lights’ directors and officers in Bright Lights’ filings with the SEC, including Bright Lights’ Annual Report on Form 10-K for the fiscal year ended December 31, 2020 filed with the SEC on March 31, 2021. To the extent that holdings of Bright Lights’ securities have changed from the amounts reported in Bright Lights’ Annual Report on Form 10-K, such changes have been or will be reflected on Statements of Changes in Beneficial Ownership on Form 4 filed with the SEC. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Bright Lights’ shareholders in connection with the Business Combination will be set forth in the proxy statement/prospectus filed as part of the Registration Statement on Form S-4 for the Business Combination, which is expected to be filed by Bright Lights with the SEC.
This Presentation is not a substitute for any registration statement or for any other document that Bright Lights or Manscaped may file with the SEC in connection with the Business Combination. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain free copies of other documents filed with the SEC by Bright Lights through the website maintained by the SEC at www.sec.gov. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.