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Waldencast plc (NASDAQ: WALD) is a global multi-brand beauty and wellness platform focused on developing, acquiring, accelerating, and scaling the next generation of conscious, purpose-driven brands. The company operates through two main segments: Obagi Skincare and Milk Makeup.
Obagi Skincare is renowned for its medical-grade skincare products that deliver transformative results. Recently, Obagi announced the appointment of Dr. Suzan Obagi as its first-ever Chief Medical Director. Dr. Obagi is a world-renowned dermatologist and cosmetic surgeon, bringing extensive expertise in aesthetic dermatology and skincare to the company. Under her leadership, Obagi aims to advance its product development, research initiatives, and educational programs. Notable products in the Obagi range include the Obagi Nu-Derm® System, Professional-C®, ELASTIderm®, and Obagi Nu-Cil™, addressing skin concerns like hyperpigmentation, fine lines, hydration, brightening, and acne.
Milk Makeup is another flagship brand under Waldencast, known for its innovative and inclusive beauty products. The brand emphasizes creativity and sustainability, appealing to a diverse range of consumers. Recently, Waldencast appointed Mazdack Rassi, Co-Founder of Milk Makeup, as the Global Brand Director. He will lead the newly formed Creative Council, focusing on future trends in beauty, wellness, and culture.
Waldencast's business model is brand-led, ensuring proximity to customers, agility, and responsiveness in the market while maintaining each brand’s unique identity. The company benefits from the operational scale of a multi-brand platform and the expertise in managing global beauty brands at scale. This approach allows Waldencast to mitigate category fluctuations and achieve asset-light efficiency.
Recent achievements include the launch of the Daily Hydro-Drops® Rejuvenating Eye Gel Cream by Obagi, offering a solution for dry skin around the eyes with 24-hour hydration. Furthermore, Waldencast's financial performance has shown promising growth, with a notable increase in gross profit for Q1 2024 compared to the previous year.
For more information, visit the company’s website: Waldencast Investor Relations.
Waldencast Acquisition Corp. (NASDAQ: WALD) announced that its shareholders overwhelmingly approved the business combination with Obagi Skincare and Milk Makeup, with approximately 98% support. The merger is expected to close around July 27, 2022, pending all closing conditions. Post-merger, the combined entity will be named Waldencast plc and trade under the ticker 'WALD' on Nasdaq. This merger marks a strategic move for Waldencast to establish a multi-brand beauty platform, integrating well-known skin and makeup brands.
Waldencast Acquisition Corp. (NASDAQ: WALD) has announced an extraordinary general meeting for its shareholders on July 25, 2022, to vote on the proposed business combination with Obagi Skincare and Milk Makeup. The SEC has declared effective the registration statement related to this deal. If approved, the merger will position the combined entity on Nasdaq under the symbol WALD. Shareholders are encouraged to vote 'FOR' all proposals and to review the definitive proxy statement thoroughly before the meeting.
Waldencast Acquisition Corp. (NASDAQ: WALD) announced a new Credit Agreement on June 24, 2022, through its subsidiary, Waldencast Finco Limited. The agreement secures proceeds of up to approximately $1.02 billion, contingent on shareholder actions. Key components include a $175 million term loan and a revolving loan of up to $50 million. The financing will primarily be used for acquisitions of Milk Makeup and Obagi Skin Care, repayment of existing debts, and general corporate purposes, aimed at leveraging Waldencast's growth and operational strength.
Waldencast Acquisition Corp. (NASDAQ: WALD) announced its participation in the Cowen 6th Annual Future of the Consumer Conference on May 25, 2022. CEO Michel Brousset will engage in a fireside chat at 2:45 PM ET, with the event accessible via Waldencast's Investor Relations page. The company aims to develop a leading beauty and wellness platform through strategic acquisitions, including its proposed combination with Obagi Global Holdings and Milk Makeup. Waldencast focuses on conscious brands aligning with social responsibility and sustainability.
Waldencast Acquisition Corp. (NASDAQ: WALD) hosted an Analyst Day on April 27, 2022, highlighting its mission to create a premier beauty and wellness platform by merging with Obagi Global Holdings and Milk Makeup. The company focuses on brands that fulfill consumer demands for social responsibility and sustainability. Waldencast filed a registration statement with the SEC in February 2022, outlining the proposed transactions and relevant financial details. Investors are encouraged to review the proxy statement for important information regarding the mergers and associated risks.
Milk Makeup has appointed Nilofer Vahora as its new Chief Marketing Officer (CMO). Vahora brings 14 years of experience from her previous role at Shiseido. This strategic hire follows Waldencast Acquisition Corp.'s $1.2 billion business combination with Milk Makeup and Obagi, aimed at creating a global beauty platform. Both the CEO and co-founder of Milk Makeup expressed confidence in Vahora's ability to drive growth while staying true to the brand's values of clean, vegan, and cruelty-free products.
Waldencast Acquisition Corp. (NASDAQ: WALD) has announced that CEO Michel Brousset will participate in investor meetings and a fireside chat at the D.A. Davidson 5th Annual Consumer Growth Conference on March 10, 2022. Waldencast will also join Evercore ISI CPG Growth Day on March 22, 2022. The discussions aim to promote Waldencast's vision of building a best-in-class beauty and wellness operating platform through partnerships with purpose-driven brands like Obagi and Milk Makeup. Key financial documents regarding these proposed transactions have been filed with the SEC.
Waldencast Acquisition Corp. (NASDAQ: WALD) has announced a definitive business combination with Obagi and Milk Makeup, valued at approximately $1.2 billion. The merger aims to establish a global beauty platform focused on high-growth, purpose-driven brands. The transaction will be funded through a combination of IPO cash, Forward Purchase Agreements, and rollover equity. Waldencast's leadership will include industry veterans, with the goal of driving growth and shareholder value. The merger is expected to close in the first half of 2022, pending shareholder approval.
Waldencast Acquisition Corp. (NASDAQ: WALD) received a notice from Nasdaq on May 28, 2021, for failing to timely file its Quarterly Report on Form 10-Q for the quarter ending March 31, 2021. This non-compliance with Nasdaq Listing Rule 5250(c)(1) does not immediately affect its securities listing, which will continue to trade on Nasdaq. WALD has 60 days to file the Form 10-Q or submit a compliance plan. If accepted, Nasdaq may grant up to 180 days for compliance, until November 22, 2021. The Company is also evaluating the accounting treatment of its warrants under recent SEC guidance.
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