Obagi Skincare, Milk Makeup and Waldencast Announce Closing

The mixed firm, Waldencast plc, is predicted to start buying and selling on Nasdaq beneath the ticker image “WALD” beginning on July 28, 2022Waldencast can be led by Founder and CEO Michel Brousset and Founder, COO and Chief Growth Officer Hind Sebti; Obagi Skincare CEO Jaime Castle and Milk Makeup CEO Tim Coolican will proceed to guide their respective manufacturers. Felipe Dutra will function Executive Chairman of the Board of the Directors NEW YORK, July 27, 2022 (GLOBE NEWSWIRE) — Waldencast Acquisition Corp., (NASDAQ: WALD), a particular goal acquisition firm, main physician-dispensed, results-driven skincare model Obagi Global Holdings Limited (“Obagi Skincare”) and award-winning make-up and skincare model Milk Makeup LLC (“Milk Makeup”), at the moment introduced the completion of their enterprise mixture. The mixed firm will now function as Waldencast plc (“Waldencast”) and is predicted to start buying and selling on the Nasdaq beneath the image “WALD” beginning on July 28, 2022. Michel Brousset, CEO of Waldencast, stated, “We are proud to announce that we’ve closed our enterprise mixture with Obagi Skincare and Milk Makeup. This marks step one in our mission to create a worldwide best-in-class magnificence and wellness firm that embraces aware, purpose-driven manufacturers. By turning into a part of the Waldencast platform, Obagi Skincare and Milk Makeup can capitalize on their massively profitable manufacturers, acquire entry to capital and profit from the Waldencast ecosystem to additional speed up development, whereas preserving their entrepreneurial spirit, distinctive DNA and values.” Hind Sebti, Chief Growth Officer of Waldencast, added, “When Michel and I launched Waldencast, our ardour and dream was to create a home of manufacturers that helps evolve the sweetness {industry} by way of a purpose-driven strategy and philosophy and assist manufacturers aligned with our mission and values of their development methods. Our first step in direction of this aim begins with Obagi Skincare and Milk Makeup – beloved, purpose-driven, high-growth manufacturers, anchored in among the fastest-growing magnificence classes. I couldn’t be extra excited to accomplice with each incredible manufacturers as they develop.” Felipe Dutra, Executive Chairman of the Board of Directors of Waldencast, stated of the enterprise mixture, “The Board and I are excited to finish the enterprise mixture and for the way forward for the corporate. The Waldencast platform is constructed to assist and speed up manufacturers like Obagi Skin Care and Milk Makeup and assist them attain their full potential. The Waldencast, Obagi, and Milk management groups mix years of {industry} particular operational expertise with a ardour for magnificence and the confirmed capability to navigate a dynamic enterprise setting.” Waldencast’s imaginative and prescient is basically underpinned by its brand-led enterprise mannequin that ensures proximity to its clients, enterprise agility and market responsiveness, whereas sustaining every model’s distinct DNA. This strategy permits Waldencast to protect the independence and entrepreneurial spirit of its manufacturers in addition to the possession mindset of the model groups. Waldencast’s world working firm will allow manufacturers, together with Obagi Skincare and Milk Makeup, to profit from the operational scale of a multi-brand platform with experience in managing world magnificence manufacturers at scale, a balanced portfolio to mitigate class fluctuations with asset mild effectivity and the market responsiveness and velocity of entrepreneurial indie manufacturers. Advisors J.P. Morgan Securities LLC acted as capital markets advisor and lead monetary advisor, and Credit Suisse acted as capital markets advisor and monetary advisor to Waldencast. Skadden, Arps, Slate, Meagher & Flom LLP acted as authorized advisor to Waldencast. Lazard was monetary advisor to Obagi, and Financo Raymond James was monetary advisor to Milk Makeup. Latham & Watkins served as authorized counsel to Obagi, and Goodwin Procter served as authorized counsel to Milk Makeup. About Obagi Skincare Obagi Skincare is an industry-leading, superior skincare line rooted in analysis and pores and skin biology, refined with a legacy of 30 years’ expertise. First often called leaders within the therapy of hyperpigmentation with the Obagi Nu-Derm® System, Obagi Skincare merchandise are designed to decrease the looks of untimely ageing, photodamage, pores and skin discoloration, pimples, and solar injury. More details about Obagi Skincare is out there on the model’s web site, Facebook, Twitter and Instagram pages. About Milk Makeup Founded in 2016 by Mazdack Rassi, Dianna Ruth, Georgie Greville, and Zanna Roberts Rassi, and with funding from Main Post Partners and ACG Partners, Milk Makeup rapidly turned a cult-favorite among the many magnificence neighborhood for its values of self-expression and inclusion, captured by its signature Live Your Look, its revolutionary formulation and clear components. The model creates vegan, cruelty-free, clear formulation from its Milk Makeup HQ in Downtown NYC. Currently, Milk Makeup presents over 300 merchandise by way of its US web site www.MilkMakeup.com, and its retail companions together with Sephora in North America, Europe, the Middle East and Australia and Cult Beauty and Selfridges within the UK. About Waldencast Founded by Michel Brousset and Hind Sebti, Waldencast’s imaginative and prescient is to construct a worldwide best-in-class magnificence and wellness working platform by growing, buying, accelerating, and scaling the subsequent era of aware, purpose-driven manufacturers.  Waldencast Acquisition Corp. entered into agreements relating to its enterprise mixture with Obagi Skincare and Milk Makeup as a primary step in realizing its imaginative and prescient. Waldencast intends to hunt manufacturers with a direct connection to at the moment’s evolving shoppers whose objectives embrace pursuing social duty, inclusiveness, sustainability, and transparency. Its aim is to change into the accomplice of alternative for next-generation manufacturers and shoppers by leveraging the collective management and the industry-specific working expertise of its administration workforce.  Forward-Looking Statements This press launch accommodates sure forward-looking statements throughout the which means of the federal securities legal guidelines, together with with respect to the transactions amongst Obagi Skincare, Milk Makeup and Waldencast, together with statements relating to the supposed advantages of the transactions and the expansion methods of Waldencast, Obagi Skincare and Milk Makeup. These forward-looking statements typically are recognized by the phrases “estimates,” “tasks,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “might,” “will,” “would,” “ought to,” “future,” “suggest,” “goal,” “aim,” “goal,” “outlook” and variations of those phrases or comparable expressions (or the detrimental variations of such phrases or expressions) are supposed to determine forward-looking statements. These forward-looking statements are usually not ensures of future efficiency, situations or outcomes, and contain a variety of recognized and unknown dangers, uncertainties, assumptions and different vital elements, a lot of that are outdoors the management of Waldencast, Obagi Skincare, and Milk Makeup, that might trigger precise outcomes or outcomes to vary materially from these mentioned within the forward-looking statements. Important elements, amongst others, that will have an effect on precise outcomes or outcomes embrace, however are usually not restricted to: (i) the shortcoming to acknowledge the anticipated advantages of the transactions, (ii) the failure to obtain sure governmental and regulatory approvals, (iii) modifications generally financial situations, together with on account of the COVID-19 pandemic, (iv) the result of litigation associated to or arising out of the transactions, or any opposed developments therein or delays or prices ensuing therefrom, (v) the power to proceed to satisfy Nasdaq’s itemizing requirements (vi) prices associated to the transactions, (vii) that the value of Waldencast’s securities could also be unstable on account of a wide range of elements, together with Waldencast’s, Obagi Skincare’s or Milk Makeup’s lack of ability to implement their enterprise plans or meet or exceed their monetary projections and modifications within the mixed capital construction, (viii) the power to implement enterprise plans, forecasts, and different expectations after the completion of the transactions, and determine and notice extra alternatives and (ix) the power of Obagi Skincare and Milk Makeup to implement their strategic initiatives and proceed to innovate their present merchandise and anticipate and reply to market traits and modifications in shopper preferences. The foregoing listing of things will not be exhaustive. You ought to fastidiously think about the foregoing elements and the opposite dangers and uncertainties described within the “Risk Factors” part of Waldencast’s definitive proxy assertion/prospectus filed by Waldencast with the SEC on July 7, 2022 and different paperwork filed or that could be filed by Waldencast once in a while with the SEC. These filings determine and deal with different vital dangers and uncertainties that might trigger precise occasions and outcomes to vary materially from these contained within the forward-looking statements. Forward-looking statements communicate solely as of the date they’re made. Readers are cautioned to not put undue reliance on forward-looking statements, and Obagi Skincare, Milk Makeup and Waldencast assume no obligation and don’t intend to replace or revise these forward-looking statements, whether or not on account of new info, future occasions, or in any other case. Neither Waldencast, Obagi Skincare, or Milk Makeup provides any assurance that Waldencast, Obagi Skincare or Milk Makeup will obtain their expectations. Contacts InvestorsICR Allison [email protected] MediaICRBrittany [email protected]


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