- Obagi Skincare and Milk Make-up turned component of the Waldencast portfolio, and the blended firm will commence investing today on the Nasdaq less than the ticker image “WALD”
- Waldencast’s eyesight is to make a worldwide best-in-course splendor and wellness operating platform by establishing, attaining, accelerating, and scaling the following generation of mindful, objective-driven brand names
- Waldencast will be led by Founder and CEO Michel Brousset and Founder, Chief Progress Officer Hind Sebti Obagi Skincare CEO Jaime Castle and Milk Makeup CEO Tim Coolican will carry on to lead their respective makes. Felipe Dutra will provide as Government Chairman of the Board of the Directors
NEW YORK, July 28, 2022 (Globe NEWSWIRE) — Waldencast plc, (NASDAQ: WALD) (“Waldencast”), a international multi-manufacturer elegance and wellness platform, currently grew to become a publicly listed company set to start off buying and selling on the Nasdaq with its Course A common inventory and community warrants listed less than the ticker symbols “WALD” and “WALDW”, respectively.
Waldencast Acquisition Corp. done the formerly introduced merger with Obagi Worldwide Holdings Minimal (“Obagi Skincare”) and Milk Make-up LLC (“Milk Makeup”) on July 27, 2022. The put together organization will now operate as Waldencast plc.
Waldencast plc, Obagi Skincare, and Milk Makeup will be ringing the opening bell at the Nasdaq this early morning, July 28th, to celebrate the firm’s general public listing. A reside stream of the function can be viewed by going to: https://www.nasdaq.com/marketsite/bell-ringing-ceremony.
Michel Brousset, CEO of Waldencast, reported, “Today, Waldencast commences its journey as a global multi-model attractiveness and wellness system, empowering and supporting purpose-driven makes in their growth approaches, beginning with Obagi Skincare and Milk Makeup. This is an amazingly proud second for all of us at Waldencast, Obagi Skincare and Milk Makeup, and I want to thank Hind, Jaime, and Tim, the Board of Administrators of all a few companies, our traders, and all of our colleagues and advisors for their challenging operate and dedication. I am encouraged by, and share, their enthusiasm for what is genuinely a attractive business and look forward to all that we will achieve alongside one another.”
Jaime Castle, CEO of Obagi Skincare, additional, “Obagi Skincare is an sector-leading manufacturer in the health practitioner dispensed house with the ambition to turn into the top professionally advised skincare brand in the globe. Inside of the Waldencast platform, we’re attaining a culturally aligned partner who provides the operational abilities and assets to assist us attain our plans though remaining correct to our values and mission.”
Tim Coolican, CEO of Milk Makeup, said of the company combination, “Our mission at Milk Make-up is to generate exclusive, higher overall performance, cleanse and cruelty-free of charge merchandise that assistance our global community to Are living their Glimpse. We found in Waldencast a partner who shares our mission and our values of self-expression and inclusion. We are incredibly fired up to sign up for the public markets, which we feel will let us to accelerate our get to and impact and comprehend our ambition of getting to be the quantity one particular elegance manufacturer for the next technology.
Mazdack Rassi, Milk Makeup co-founder and Chief Model Officer, added, “We developed Milk Makeup to be a motion as a lot as a small business, and Waldencast is the perfect house for Milk Make-up to achieve its full likely. I am so grateful to our staff and our local community and appear forward to a wonderful future with each other.”
Waldencast’s eyesight is fundamentally underpinned by its brand name-led small business product that assures proximity to its consumers, business enterprise agility, and sector responsiveness, although retaining every single brand’s distinct DNA. This tactic allows Waldencast to preserve the independence and entrepreneurial spirit of its brand names as effectively as the ownership frame of mind of the brand name groups. Waldencast’s world running system will enable makes, including Obagi Skincare and Milk Make-up, to profit from the operational scale of a multi-brand name system with knowledge in handling international splendor models at scale, a well balanced portfolio to mitigate group fluctuations with asset light performance and the market place responsiveness and speed of entrepreneurial indie makes.
Waldencast’s management group spans decades of working experience drawn from the attractiveness and shopper industries. Its Board of Administrators, which signifies varied and complementary know-how, is made up of:
- Felipe Dutra, Executive Chairman
- Michel Brousset, Chief Executive Officer and Director
- Sarah Brown, Director
- Aaron Chatterley, Director
- Simon Dai, Director
- Juliette Hickman, Director
- Lindsay Pattison, Director
- Cristiano Souza, Director
- Zack Werner, Director
About Obagi Skincare
Obagi Skincare is an industry-top, sophisticated pores and skin treatment line rooted in research and skin biology, refined with a legacy of 30 years’ knowledge. Initial regarded as leaders in the procedure of hyperpigmentation with the Obagi Nu-Derm® Method, Obagi Skincare products and solutions are built to diminish the visual appearance of untimely growing old, photodamage, skin discoloration, zits, and solar harm. Much more information about Obagi Skincare is offered on the brand’s web site, Facebook, Twitter and Instagram internet pages.
About Milk Make-up
Established in 2016 by Mazdack Rassi, Dianna Ruth, Georgie Greville, and Zanna Roberts Rassi, and with funding from Primary Publish Partners and ACG Associates, Milk Makeup speedily turned a cult-favourite between the natural beauty local community for its values of self-expression and inclusion, captured by its signature Dwell Your Look, its innovative formulation and thoroughly clean components. The model makes vegan, cruelty-absolutely free, clean formulas from its Milk Makeup HQ in Downtown NYC. At the moment, Milk Make-up provides above 300 products by means of its US website www.MilkMakeup.com, and its retail associates which includes Sephora in North America, Europe, the Center East and Australia and Cult Magnificence and Selfridges in the United kingdom.
Founded by Michel Brousset and Hind Sebti, Waldencast’s vision is to construct a global finest-in-class splendor and wellness running platform by acquiring, getting, accelerating, and scaling the future technology of aware, purpose-driven makes. Waldencast Acquisition Corp. entered into agreements about its small business mix with Obagi Skincare and Milk Makeup as a initial phase in acknowledging its vision. Waldencast intends to look for brands with a immediate relationship to today’s evolving consumers whose plans include pursuing social duty, inclusiveness, sustainability, and transparency. Its objective is to develop into the companion of option for following-era manufacturers and consumers by leveraging the collective management and the marketplace-specific functioning expertise of its management staff.
This press launch contains certain ahead-searching statements in just the indicating of the federal securities legislation, together with with respect to the transactions amongst Obagi Skincare, Milk Makeup and Waldencast, such as statements regarding the supposed benefits of the transactions and the progress strategies of Waldencast, Obagi Skincare and Milk Make-up. These forward-searching statements commonly are discovered by the text “estimates,” “projects,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “would,” “should,” “future,” “propose,” “target,” “goal,” “objective,” “outlook” and versions of these terms or comparable expressions (or the detrimental variations of this sort of text or expressions) are meant to identify forward-wanting statements. These ahead-looking statements are not guarantees of long run functionality, problems or effects, and involve a range of acknowledged and mysterious risks, uncertainties, assumptions and other vital things, numerous of which are outside the house the management of Waldencast, Obagi Skincare, and Milk Make-up, that could bring about actual success or results to differ materially from those discussed in the forward-seeking statements. Vital variables, amongst other people, that may impact real benefits or outcomes involve, but are not restricted to: (i) the incapability to recognize the predicted gains of the transactions, (ii) the failure to obtain certain governmental and regulatory approvals, (iii) variations in basic financial situations, including as a final result of the COVID-19 pandemic, (iv) the result of litigation associated to or arising out of the transactions, or any adverse developments therein or delays or expenditures ensuing therefrom, (v) the means to carry on to meet Nasdaq’s listing requirements (vi) fees linked to the transactions, (vii) that the rate of Waldencast’s securities may be risky because of to a range of things, which include Waldencast’s, Obagi Skincare’s or Milk Makeup’s incapability to put into action their business enterprise ideas or meet up with or exceed their economical projections and improvements in the merged funds construction, (viii) the capacity to implement organization options, forecasts, and other expectations immediately after the completion of the transactions, and determine and comprehend more alternatives and (ix) the means of Obagi Skincare and Milk Makeup to employ their strategic initiatives and keep on to innovate their present merchandise and foresee and react to industry trends and alterations in client choices. The foregoing listing of components is not exhaustive. You ought to carefully contemplate the foregoing elements and the other pitfalls and uncertainties described in the “Risk Factors” part of Waldencast’s definitive proxy statement/prospectus filed by Waldencast with the SEC on July 7, 2022 and other documents submitted or that may be submitted by Waldencast from time to time with the SEC. These filings discover and address other critical pitfalls and uncertainties that could trigger true events and outcomes to differ materially from individuals contained in the ahead-on the lookout statements. Ahead-on the lookout statements converse only as of the date they are made. Viewers are cautioned not to set undue reliance on ahead-looking statements, and Obagi Skincare, Milk Make-up and Waldencast believe no obligation and do not intend to update or revise these forward-on the lookout statements, irrespective of whether as a final result of new facts, upcoming situations, or otherwise. Neither Waldencast, Obagi Skincare, or Milk Makeup offers any assurance that Waldencast, Obagi Skincare or Milk Make-up will realize their expectations.