MANSCAPED SPAC: How to buy the Channing Tatum-backed company's stock?

3 min read | November 24, 2021 03:08 AM EST | By Raza Naqvi

MANSCAPED SPAC: How to buy the Channing Tatum-backed company's stock? — Image source: Demidovichphotostock | Megapixl.com

MANSCAPED going public: All you need to know

The men's lifestyle and grooming company has applied to get listed on the Nasdaq Stock Market and under the stock symbol MANS. The SPAC merger will likely raise US$ 305 million in proceeds, and it could value the combined entity at approximately US$ 1 billion.

MANSCAPED to go public through SPAC merger

Under the deal, the combined entity would only raise US$ 305 million if there's no redemption from the shareholders of Bright Lights. In addition, once the deal is closed, Manscaped Holdings will have US$ 235 million on its balance sheet and trade without any debt.

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The Board of Directors have approved the transaction and it will require approval of shareholders of both the companies- MANSCAPED and Bright Lights.

Additionally, the transaction will be subjected to other customary conditions, and it will likely close in the first quarter of 2022. Presently, the potential investors cannot buy the stock until the company starts trading in the stock market.

Bottom line

MANSCAPED has emerged as one of the leading lifestyle and grooming brands in the United States and it is a profitable company. It is backed by famous American actor Channing Tatum.

The company had a trailing twelve-month (TTM) revenue of US$ 285 million in Q3 2021 in comparison to US$ 3 million in Q1 2018. During the period, MANSCAPED only utilized US$ 23 million of raised equity.

MANSCAPED has over one million subscribers and it has a repeat purchase rate of 70 per cent within the first 12 months.

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