- SPAC Bright Lights Acquisition ( NASDAQ: BLTS ) and men’s grooming firm Manscaped said Thursday they are mutually terminating their business combination deal , effective immediately.
- CEO Mike Mahan said current market conditions made it unworkable to complete the Manscaped merger .
- BLTS and Manscaped agreed to a release of claims relating to the proposed business combination.
- Manscaped will pay BLTS $1M, with $350K due on the termination date, $216.7K due on each of the first, second and third anniversaries of the termination date.
For further details see:
SPAC Bright Lights Acquisition, Manscaped scrap merger