Waldencast Acquisition : Shareholders Approve Business

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Waldencast Acquisition Corp. Shareholders Approve Business Combination with Obagi Skincare and Milk Makeup

The company blend with Obagi Skincare and Milk Makeup is expected to near on or about July 27, 2022
Solid assistance from shareholders with roughly 98% approval
The article-closing put together company will be renamed Waldencast plc and is anticipated to start out trading on Nasdaq under the ticker “WALD” on the first investing working day adhering to the closing day

JULY 25, 2022 – NEW YORK, NY – Waldencast Acquisition Corp., (NASDAQ: WALD) (“Waldencast”), a exclusive reason acquisition company, introduced that in its amazing general meeting held these days, its shareholders voted to approve the small business blend with main medical doctor-dispensed, results-pushed skin treatment brand Obagi World Holdings Minimal (“Obagi Skincare”) and award-successful make-up and skin treatment manufacturer Milk Make-up LLC (“Milk Makeup”).

The business enterprise mixture was supported by roughly 98% of the vote cast at the meeting, symbolizing close to 70% of Waldencast’s excellent shares.

The closing of the enterprise mixture is predicted to occur on or close to July 27, 2022, matter to the gratification or waiver of all closing situations. On the closing of the transactions with Obagi Skincare and Milk Make-up, both equally providers will grow to be component of the Waldencast portfolio, and the mixed enterprise, Waldencast plc, will be shown on Nasdaq less than the image “WALD”.

This a few-way transaction with Obagi Skincare and Milk Make-up is a 1st action in Waldencast’s method to produce a worldwide finest-in-course multi-brand attractiveness and wellness system.

About Obagi Skincare

Obagi Skincare is an sector-major, highly developed skin care line rooted in exploration and skin biology, refined with a legacy of 30 years’ knowledge. Initially recognized as leaders in the remedy of hyperpigmentation with the Obagi Nu-Derm® System, Obagi Skincare products and solutions are developed to diminish the visual appeal of untimely getting old, photodamage, skin discoloration, zits, and sun harm. Extra information and facts about Obagi Skincare is out there on the brand’s web page, Fb, Twitter and Instagram web pages.

About Milk Makeup

Founded in 2016 by Mazdack Rassi, Dianna Ruth, Georgie Greville, and Zanna Roberts Rassi, Milk Makeup quickly grew to become a cult-favorite amid the natural beauty group for its values of self-expression and inclusion, captured by its signature Reside Your Glimpse, its impressive formulation and clear substances. The model creates vegan, cruelty-totally free, cleanse formulas from its Milk Make-up HQ in Downtown NYC. At present, Milk Makeup offers over 300 goods via its US web site www.MilkMakeup.com, and its retail associates including Sephora in North America, Europe, the Center East and Australia and Cult Beauty and Selfridges in the Uk.

About Waldencast

Established by Michel Brousset and Hind Sebti, Waldencast’s eyesight is to create a world-wide very best-in-class attractiveness and wellness working platform by producing, attaining, accelerating, and scaling the subsequent era of mindful, function-driven makes. Waldencast entered into agreements about its proposed organization mix with Obagi Skincare and Milk Make-up as a initial action in realizing its vision. Waldencast intends to seek out manufacturers with a direct connection to today’s evolving consumers whose aims include pursuing social accountability, inclusiveness, sustainability, and transparency. Its objective is to develop into the husband or wife of selection for subsequent-technology models and shoppers by leveraging the collective leadership and the sector-specific running knowledge of its management crew.

Forward-Hunting Statements

This press release is made up of particular ahead-looking statements within just the which means of the federal securities laws, which include with respect to the proposed transactions amid Obagi Skincare, Milk Makeup and Waldencast, together with statements relating to the meant added benefits of the transactions, the predicted timing of the transactions and the development tactics of Waldencast, Obagi Skincare and Milk Makeup. These forward-hunting statements commonly are identified by the words “estimates,” “initiatives,” “expects,” “anticipates,” “forecasts,” “ideas,” “intends,” “thinks,” “seeks,” “may,” “will,” “would,” “should,” “long term,” “propose,” “goal,” “objective,” “goal,” “outlook” and variations of these words or related expressions (or the unfavorable variations of these kinds of text or expressions) are meant to establish ahead-hunting statements. These ahead-wanting statements are not ensures of upcoming overall performance, situations or final results, and involve a range of known and unknown dangers, uncertainties, assumptions and other critical aspects, quite a few of which are outside the handle of Waldencast, Obagi Skincare, and Milk Makeup, that could cause true success or results to differ materially from all those talked about in the ahead-hunting statements. Critical factors, between other individuals, that might affect genuine final results or results contain, but are not confined to: (i) the chance that the transactions may well not be accomplished in a well timed manner or at all, which might adversely have an effect on the cost of Waldencast’s securities, (ii) the lack of ability to identify the expected positive aspects of the proposed transactions (iii) the failure to get selected governmental and regulatory approvals, (iv) the lack of ability to entire the PIPE Financial commitment or the Forward Order Agreements investments (as this sort of phrases are outlined in the definitive proxy assertion/prospectus filed by Waldencast with the SEC on July 7, 2022 (the “definitive proxy assertion/prospectus”)), (v) the occurrence of any celebration, change or other circumstance that could give increase to the termination of the Obagi Merger Settlement or the Milk Equity Buy Arrangement (as this kind of conditions are defined in the definitive proxy assertion/prospectus), (vi) improvements in common economic problems, such as as a result 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 ensuing therefrom, (viii) the impact of the announcement or pendency of the transactions on Obagi Skincare’s or Milk Makeup’s small business associations, working outcomes, and companies frequently, (ix) the capacity to go on to fulfill Nasdaq’s listing requirements subsequent the consummation of the proposed transactions, (x) costs relevant to the proposed transactions, (xi) that the cost of Waldencast’s securities may be risky owing to a variety of factors, which includes Waldencast’s, Obagi Skincare’s or Milk Makeup’s incapacity to put into action their enterprise programs or satisfy or exceed their money projections and variations in the mixed capital construction, (xii) the means to put into action business enterprise plans, forecasts, and other expectations just after the completion of the proposed transactions, and detect and understand extra prospects and (xiii) the ability of Obagi Skincare and Milk Make-up to put into practice their strategic initiatives and proceed to innovate their existing items and anticipate and react to current market trends and alterations in consumer preferences. The foregoing checklist of components is not exhaustive. You need to thoroughly look at the foregoing variables and the other dangers and uncertainties described in the “Risk Components” portion of Waldencast’s definitive proxy statement/prospectus and other documents submitted or that may be filed by Waldencast from time to time with the SEC. These filings detect and deal with other essential threats and uncertainties that could bring about precise functions and success to differ materially from these contained in the forward-seeking statements. Forward-hunting statements communicate only as of the day they are created. Readers are cautioned not to put undue reliance on forward-hunting statements, and Obagi Skincare, Milk Make-up and Waldencast presume no obligation and do not intend to update or revise these ahead-searching statements, no matter if as a outcome of new info, upcoming activities, or normally. Neither Waldencast, Obagi Skincare, or Milk Makeup provides any assurance that Waldencast, Obagi Skincare or Milk Make-up, or the put together company, will reach their anticipations.

Contacts

Investors

ICR

Allison Malkin

[email protected]

Media

ICR

Brittany Fraser

[email protected]

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