MANSCAPED and Bright Lights Call Off Planned Merger Amid Market Headwinds

In a jointly announced decision, men’s grooming brand MANSCAPED and SPAC operator Bright Lights Acquisition Corp. have terminated their planned business combination agreement, marking another high-profile deal cancellation in a challenging market environment. The decision took effect immediately, ending months of preparation for what would have been the company’s path to public markets through the SPAC route.

The termination reflects broader struggles within the acquisition landscape as market conditions have deteriorated significantly since the deal was first announced. Both parties issued statements emphasizing their respect for each other despite the parting of ways, with leadership from both sides expressing disappointment over the inability to complete the transaction under current economic circumstances.

Why the Deal Fell Apart

“The current market climate has made it impossible to move forward with the merger,” explained Mike Mahan, CEO of Bright Lights, in a statement. “That said, we remain admirers of what MANSCAPED has built and are rooting for Paul’s vision to succeed.” The comments underscore a familiar refrain among deal participants—external market forces, not strategic disagreements, derailed the transaction.

MANSCAPED’s leadership struck a similarly diplomatic tone. “We remain committed to our long-term growth trajectory,” said founder and CEO Paul Tran. “Our partnership with the Bright Lights team has been productive throughout this process.” Such statements typically signal that both sides are leaving the door open for alternative strategies, whether that means pursuing a different path to going public or remaining private while seeking additional capital.

About MANSCAPED’s Market Position

Founded in 2016 and headquartered in San Diego, MANSCAPED has established itself as a significant player in the men’s personal care sector. The company boasts a customer base exceeding six million men globally and operates across an impressive 39 countries through direct-to-consumer channels. The brand’s retail footprint extends to major U.S. retailers including Target, Best Buy, Macy’s, and Walgreens, alongside military exchanges. International expansion includes partnerships with Hairhouse locations in Australia and availability on Amazon in over 100 countries.

The product ecosystem spans grooming tools, formulations, and accessories designed to introduce comprehensive self-care routines for men. This diversified approach to the category has positioned MANSCAPED as more than just a tool manufacturer—it’s positioned itself as a lifestyle brand.

The Broader SPAC Context

Bright Lights, a special purpose acquisition company, had been actively seeking target businesses in consumer products and media, entertainment, and sports sectors. The company’s leadership team included CEO Michael Mahan, Co-Chairmen Allen Shapiro and John Howard, and CFO Hahn Lee. The failed merger adds to a growing list of terminated SPAC deals as the once-hot acquisition vehicle has faced headwinds from regulatory scrutiny, investor skepticism, and market volatility.

Both organizations indicated they would file additional documentation with the SEC detailing the termination specifics. For MANSCAPED, this resolution leaves open questions about the company’s future capital-raising strategy and timeline for potential public market entry through alternative means.