Obagi Skincare and Milk Makeup turned a part of the Waldencast portfolio, and the mixed firm will start buying and selling in the present day on the Nasdaq beneath the ticker image “WALD”Waldencast’s imaginative and prescient is to construct a world best-in-class magnificence and wellness working platform by creating, buying, accelerating, and scaling the subsequent technology of acutely aware, purpose-driven manufacturersWaldencast shall be led by Founder and CEO Michel Brousset and Founder, Chief Growth Officer Hind Sebti; Obagi Skincare CEO Jaime Castle and Milk Makeup CEO Tim Coolican will proceed to steer their respective manufacturers. Felipe Dutra will function Executive Chairman of the Board of the Directors NEW YORK, July 28, 2022 (GLOBE NEWSWIRE) — Waldencast plc, (NASDAQ: WALD) (“Waldencast”), a world multi-brand magnificence and wellness platform, in the present day turned a publicly listed firm set to start buying and selling on the Nasdaq with its Class A typical inventory and public warrants listed beneath the ticker symbols “WALD” and “WALDW”, respectively. Waldencast Acquisition Corp. accomplished the beforehand introduced merger with Obagi Global Holdings Limited (“Obagi Skincare”) and Milk Makeup LLC (“Milk Makeup”) on July 27, 2022. The mixed firm will now function as Waldencast plc. Waldencast plc, Obagi Skincare, and Milk Makeup shall be ringing the opening bell on the Nasdaq this morning, July twenty eighth, to have a good time the corporate’s public itemizing. A reside stream of the occasion might be seen by visiting: https://www.nasdaq.com/marketsite/bell-ringing-ceremony. Michel Brousset, CEO of Waldencast, stated, “Today, Waldencast begins its journey as a world multi-brand magnificence and wellness platform, empowering and supporting purpose-driven manufacturers of their development methods, starting with Obagi Skincare and Milk Makeup. This is an extremely proud second for all of us at Waldencast, Obagi Skincare and Milk Makeup, and I wish to thank Hind, Jaime, and Tim, the Board of Directors of all three corporations, our traders, and all of our colleagues and advisors for his or her laborious work and dedication. I’m impressed by, and share, their ardour for what is actually a ravishing enterprise and stay up for all that we are going to obtain collectively.” Jaime Castle, CEO of Obagi Skincare, added, “Obagi Skincare is an industry-leading model within the doctor allotted house with the ambition to develop into the highest professionally beneficial skincare model on the earth. Within the Waldencast platform, we’re gaining a culturally aligned accomplice who brings the operational experience and sources to assist us obtain our targets whereas remaining true to our values and mission.” Tim Coolican, CEO of Milk Makeup, stated of the enterprise mixture, “Our mission at Milk Makeup is to create distinctive, excessive efficiency, clear and cruelty-free merchandise that assist our international group to Live their Look. We present in Waldencast a accomplice who shares our mission and our values of self-expression and inclusion. We are very excited to affix the general public markets, which we consider will enable us to speed up our attain and influence and understand our ambition of changing into the primary magnificence model for the subsequent technology. Mazdack Rassi, Milk Makeup co-founder and Chief Brand Officer, added, “We constructed Milk Makeup to be a motion as a lot as a enterprise, and Waldencast is the right residence for Milk Makeup to attain its full potential. I’m so grateful to our workforce and our group and stay up for an awesome future collectively.” Waldencast’s imaginative and prescient is basically underpinned by its brand-led enterprise mannequin that ensures proximity to its prospects, enterprise agility, and market responsiveness, whereas sustaining every model’s distinct DNA. This method permits Waldencast to protect the independence and entrepreneurial spirit of its manufacturers in addition to the possession mindset of the model groups. Waldencast’s international working platform 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 international magnificence manufacturers at scale, a balanced portfolio to mitigate class fluctuations with asset gentle effectivity and the market responsiveness and pace of entrepreneurial indie manufacturers. Waldencast’s management workforce spans a long time of expertise drawn from the wonder and shopper industries. Its Board of Directors, which represents numerous and complementary experience, consists of: Felipe Dutra, Executive ChairmanMichel Brousset, Chief Executive Officer and DirectorSarah Brown, DirectorAaron Chatterley, DirectorSimon Dai, DirectorJuliette Hickman, DirectorLindsay Pattison, DirectorCristiano Souza, DirectorZack Werner, Director 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 known as leaders within the remedy of hyperpigmentation with the Obagi Nu-Derm® System, Obagi Skincare merchandise are designed to decrease the looks of untimely getting older, photodamage, pores and skin discoloration, pimples, and solar harm. 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 shortly turned a cult-favorite among the many magnificence group for its values of self-expression and inclusion, captured by its signature Live Your Look, its modern formulation and clear elements. The model creates vegan, cruelty-free, clear formulation from its Milk Makeup HQ in Downtown NYC. Currently, Milk Makeup presents over 300 merchandise by 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 world best-in-class magnificence and wellness working platform by creating, buying, accelerating, and scaling the subsequent technology of acutely 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 in the present day’s evolving shoppers whose targets embrace pursuing social duty, inclusiveness, sustainability, and transparency. Its objective is to develop 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 inside 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 meant advantages of the transactions and the expansion methods of Waldencast, Obagi Skincare and Milk Makeup. These forward-looking statements usually are recognized by the phrases “estimates,” “initiatives,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “might,” “will,” “would,” “ought to,” “future,” “suggest,” “goal,” “objective,” “goal,” “outlook” and variations of those phrases or related expressions (or the detrimental variations of such phrases or expressions) are meant to establish forward-looking statements. These forward-looking statements are usually not ensures of future efficiency, circumstances or outcomes, and contain quite a lot of identified and unknown dangers, uncertainties, assumptions and different necessary elements, a lot of that are exterior the management of Waldencast, Obagi Skincare, and Milk Makeup, that would trigger precise outcomes or outcomes to vary materially from these mentioned within the forward-looking statements. Important elements, amongst others, which 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) adjustments basically financial circumstances, together with on account of the COVID-19 pandemic, (iv) the end result of litigation associated to or arising out of the transactions, or any antagonistic developments therein or delays or prices ensuing therefrom, (v) the flexibility to proceed to satisfy Nasdaq’s itemizing requirements (vi) prices associated to the transactions, (vii) that the worth of Waldencast’s securities could also be unstable attributable to a wide range of elements, together with Waldencast’s, Obagi Skincare’s or Milk Makeup’s incapacity to implement their enterprise plans or meet or exceed their monetary projections and adjustments within the mixed capital construction, (viii) the flexibility to implement enterprise plans, forecasts, and different expectations after the completion of the transactions, and establish and understand further alternatives and (ix) the flexibility 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 adjustments in shopper preferences. The foregoing record of things just isn’t exhaustive. You ought to rigorously take into account 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 which may be filed by Waldencast occasionally with the SEC. These filings establish and tackle different necessary dangers and uncertainties that would trigger precise occasions and outcomes to vary materially from these contained within the forward-looking statements. Forward-looking statements converse 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 offers any assurance that Waldencast, Obagi Skincare or Milk Makeup will obtain their expectations. Contacts InvestorsICR Allison [email protected] MediaICRBrittany Fraser [email protected]
https://www.globenewswire.com/news-release/2022/07/28/2487712/0/en/Obagi-Skincare-Milk-Makeup-and-Waldencast-Close-Business-Combination-Combined-Company-to-Begin-Trading-on-Nasdaq.html
