- The organization mixture with Obagi Skincare and Milk Make-up is predicted to near on or about July 27, 2022
- Robust aid from shareholders with around 98% acceptance
- The post-closing mixed company will be renamed Waldencast plc and is anticipated to start off buying and selling on Nasdaq beneath the ticker “WALD” on the first investing working day next the closing day
NEW YORK, July 25, 2022 (World NEWSWIRE) — Waldencast Acquisition Corp., (NASDAQ: WALD) (“Waldencast”), a distinctive intent acquisition organization, declared that in its extraordinary normal conference held nowadays, its shareholders voted to approve the business enterprise mix with main doctor-dispensed, results-driven pores and skin treatment brand name Obagi International Holdings Confined (“Obagi Skincare”) and award-profitable make-up and pores and skin care brand name Milk Makeup LLC (“Milk Makeup”).
The small business combination was supported by approximately 98% of the vote forged at the meeting, representing close to 70% of Waldencast’s excellent shares.
The closing of the enterprise mix is anticipated to come about on or around July 27, 2022, subject matter to the gratification or waiver of all closing conditions. On the closing of the transactions with Obagi Skincare and Milk Makeup, the two companies will grow to be section of the Waldencast portfolio, and the combined firm, Waldencast plc, will be listed on Nasdaq underneath the symbol “WALD”.
This three-way transaction with Obagi Skincare and Milk Make-up is a 1st stage in Waldencast’s strategy to generate a world-wide best-in-class multi-manufacturer beauty and wellness system.
About Obagi Skincare
Obagi Skincare is an market-major, highly developed pores and skin care line rooted in exploration and skin biology, refined with a legacy of 30 years’ knowledge. To start with acknowledged as leaders in the therapy of hyperpigmentation with the Obagi Nu-Derm® Technique, Obagi Skincare items are made to diminish the appearance of untimely growing older, photodamage, pores and skin discoloration, acne, and sun hurt. Far more facts about Obagi Skincare is readily available on the brand’s site, Facebook, Twitter and Instagram webpages.
About Milk Make-up
Started in 2016 by Mazdack Rassi, Dianna Ruth, Georgie Greville, and Zanna Roberts Rassi, Milk Make-up immediately grew to become a cult-favored amid the beauty group for its values of self-expression and inclusion, captured by its signature Live Your Seem, its ground breaking formulation and clear elements. The brand makes vegan, cruelty-free, cleanse formulation from its Milk Make-up HQ in Downtown NYC. At present, Milk Make-up features over 300 products through its US website www.MilkMakeup.com, and its retail companions like Sephora in North The united states, Europe, the Middle East and Australia and Cult Attractiveness and Selfridges in the United kingdom.
About Waldencast
Launched by Michel Brousset and Hind Sebti, Waldencast’s vision is to make a world wide greatest-in-course attractiveness and wellness functioning system by creating, acquiring, accelerating, and scaling the next technology of conscious, intent-driven brand names. Waldencast entered into agreements with regards to its proposed small business mix with Obagi Skincare and Milk Makeup as a very first stage in acknowledging its vision. Waldencast intends to look for brands with a immediate link to today’s evolving buyers whose aims include pursuing social duty, inclusiveness, sustainability, and transparency. Its objective is to turn out to be the associate of selection for future-era models and individuals by leveraging the collective leadership and the marketplace-distinct functioning working experience of its administration team.
Ahead-Wanting Statements
This press launch is made up of specific forward-wanting statements inside of the that means of the federal securities guidelines, like with regard to the proposed transactions among Obagi Skincare, Milk Make-up and Waldencast, which include statements about the supposed positive aspects of the transactions, the predicted timing of the transactions and the advancement strategies of Waldencast, Obagi Skincare and Milk Makeup. These forward-on the lookout statements typically are discovered by the words “estimates,” “projects,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “would,” “should,” “future,” “propose,” “target,” “goal,” “objective,” “outlook” and variations of these terms or related expressions (or the destructive versions of this sort of terms or expressions) are supposed to identify ahead-searching statements. These forward-on the lookout statements are not assures of long term effectiveness, circumstances or outcomes, and require a amount of recognized and unidentified dangers, uncertainties, assumptions and other vital components, numerous of which are outdoors the command of Waldencast, Obagi Skincare, and Milk Makeup, that could cause actual benefits or outcomes to differ materially from people talked about in the ahead-seeking statements. Essential things, between some others, that may perhaps have an effect on true results or outcomes contain, but are not restricted to: (i) the possibility that the transactions might not be done in a well timed way or at all, which might adversely have an effect on the price of Waldencast’s securities, (ii) the incapacity to acknowledge the expected rewards of the proposed transactions (iii) the failure to get specific governmental and regulatory approvals, (iv) the inability to full the PIPE Investment or the Forward Invest in Agreements investments (as these types of conditions are defined in the definitive proxy statement/prospectus filed by Waldencast with the SEC on July 7, 2022 (the “definitive proxy assertion/prospectus”)), (v) the occurrence of any party, modify or other circumstance that could give increase to the termination of the Obagi Merger Agreement or the Milk Fairness Order Agreement (as this kind of terms are defined in the definitive proxy assertion/prospectus), (vi) adjustments in standard economic circumstances, including as a outcome of the COVID-19 pandemic, (vii) the end result of litigation related to or arising out of the proposed transactions, or any adverse developments therein or delays or expenses resulting therefrom, (viii) the influence of the announcement or pendency of the transactions on Obagi Skincare’s or Milk Makeup’s organization relationships, working outcomes, and firms usually, (ix) the skill to keep on to satisfy Nasdaq’s listing expectations pursuing the consummation of the proposed transactions, (x) fees connected to the proposed transactions, (xi) that the price of Waldencast’s securities could be risky thanks to a variety of factors, which include Waldencast’s, Obagi Skincare’s or Milk Makeup’s incapability to put into practice their enterprise strategies or fulfill or exceed their economical projections and modifications in the put together cash composition, (xii) the ability to put into practice business enterprise designs, forecasts, and other expectations following the completion of the proposed transactions, and detect and recognize further prospects and (xiii) the skill of Obagi Skincare and Milk Makeup to put into action their strategic initiatives and continue to innovate their present products and anticipate and respond to market place tendencies and variations in customer tastes. The foregoing checklist of elements is not exhaustive. You ought to very carefully think about the foregoing variables and the other threats and uncertainties explained in the “Risk Factors” segment of Waldencast’s definitive proxy assertion/prospectus and other files filed or that may possibly be filed by Waldencast from time to time with the SEC. These filings establish and tackle other crucial risks and uncertainties that could cause precise events and outcomes to differ materially from people contained in the ahead-wanting statements. Ahead-on the lookout statements speak only as of the date they are designed. Audience are cautioned not to put undue reliance on ahead-hunting statements, and Obagi Skincare, Milk Make-up and Waldencast believe no obligation and do not intend to update or revise these forward-searching statements, no matter whether as a result of new information and facts, future situations, or or else. Neither Waldencast, Obagi Skincare, or Milk Make-up gives any assurance that Waldencast, Obagi Skincare or Milk Make-up, or the mixed business, will realize their anticipations.
Contacts
Buyers
ICR
Allison Malkin
[email protected]
Media
ICR
Brittany Fraser
[email protected]
