Bright Lights Acquisition in an 8-K filing said shareholders voted in favor of shutting down the SPAC ahead of its Jan. 11 deadline. The SPAC willredeem shares, instead.
The per-share redemption price of $10 will be drawn from the roughly $5 million remaining in the SPAC's trust.
Bright Lights two months ago proposed a deadline extension, then decided to change course and liquidate.
The SPAC in August called off a deal with MANSCAPED, a maker of grooming products. MANSCAPED is on the hook to Bright Lights for a termination fee of $1 million, payable in installments over the next two years. Read more.