Waldencast Acquisition Corp. Shareholders Approve Business

The enterprise mixture with Obagi Skincare and Milk Makeup is predicted to shut on or round July 27, 2022Strong assist from shareholders with roughly 98% approvalThe post-closing mixed firm can be renamed Waldencast plc and is predicted to start buying and selling on Nasdaq underneath the ticker “WALD” on the primary buying and selling day following the deadline NEW YORK, July 25, 2022 (GLOBE NEWSWIRE) —  Waldencast Acquisition Corp., (NASDAQ: WALD) (“Waldencast”), a particular function acquisition firm, introduced that in its extraordinary basic assembly held in the present day, its shareholders voted to approve the enterprise mixture with 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”). The enterprise mixture was supported by roughly 98% of the vote forged on the assembly, representing roughly 70% of Waldencast’s excellent shares. The closing of the enterprise mixture is predicted to happen on or round July 27, 2022, topic to the satisfaction or waiver of all closing situations. Upon the closing of the transactions with Obagi Skincare and Milk Makeup, each firms will turn out to be a part of the Waldencast portfolio, and the mixed firm, Waldencast plc, can be listed on Nasdaq underneath the image “WALD”. This three-way transaction with Obagi Skincare and Milk Makeup is a primary step in Waldencast’s technique to create a world best-in-class multi-brand magnificence and wellness platform. 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, zits, 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, Milk Makeup shortly 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 progressive formulation and clear substances. The model creates vegan, cruelty-free, clear formulation from its Milk Makeup HQ in Downtown NYC. Currently, Milk Makeup presents over 300 merchandise via 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 growing, buying, accelerating, and scaling the subsequent technology of acutely aware, purpose-driven manufacturers.  Waldencast entered into agreements concerning its proposed 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 customers whose targets embrace pursuing social duty, inclusiveness, sustainability, and transparency. Its purpose is to turn out to be the companion of alternative for next-generation manufacturers and customers by leveraging the collective management and the industry-specific working expertise of its administration workforce.  Forward-Looking Statements This press launch incorporates sure forward-looking statements throughout the that means of the federal securities legal guidelines, together with with respect to the proposed transactions amongst Obagi Skincare, Milk Makeup and Waldencast, together with statements concerning the supposed advantages of the transactions, the anticipated timing 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,” “purpose,” “goal,” “outlook” and variations of those phrases or related expressions (or the damaging variations of such phrases or expressions) are supposed to determine forward-looking statements. These forward-looking statements usually are not ensures of future efficiency, situations or outcomes, and contain a variety of recognized and unknown dangers, uncertainties, assumptions and different vital components, lots 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 components, amongst others, that will have an effect on precise outcomes or outcomes embrace, however usually are not restricted to: (i) the danger that the transactions will not be accomplished in a well timed method or in any respect, which can adversely have an effect on the value of Waldencast’s securities, (ii) the shortcoming to acknowledge the anticipated advantages of the proposed transactions (iii) the failure to obtain sure governmental and regulatory approvals, (iv) the shortcoming to finish the PIPE Investment or the Forward Purchase Agreements investments (as such phrases are outlined within the definitive proxy assertion/prospectus filed by Waldencast with the SEC on July 7, 2022 (the “definitive proxy assertion/prospectus”)), (v) the incidence of any occasion, change or different circumstance that would give rise to the termination of the Obagi Merger Agreement or the Milk Equity Purchase Agreement (as such phrases are outlined within the definitive proxy assertion/prospectus), (vi) modifications generally financial situations, together with because of the COVID-19 pandemic, (vii) the result of litigation associated to or arising out of the proposed transactions, or any antagonistic developments therein or delays or prices ensuing therefrom, (viii) the impact of the announcement or pendency of the transactions on Obagi Skincare’s or Milk Makeup’s enterprise relationships, working outcomes, and companies typically, (ix) the power to proceed to fulfill Nasdaq’s itemizing requirements following the consummation of the proposed transactions, (x) prices associated to the proposed transactions, (xi) that the value of Waldencast’s securities could also be unstable on account of quite a lot of components, 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 modifications within the mixed capital construction, (xii) the power to implement enterprise plans, forecasts, and different expectations after the completion of the proposed transactions, and determine and notice further alternatives and (xiii) 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 tendencies and modifications in client preferences. The foregoing listing of things will not be exhaustive. You ought to fastidiously think about the foregoing components and the opposite dangers and uncertainties described within the “Risk Factors” part of Waldencast’s definitive proxy assertion/prospectus and different paperwork filed or which may be filed by Waldencast now and again with the SEC. These filings determine and tackle different vital 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 because 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, or the mixed firm, will obtain their expectations. Contacts InvestorsICR Allison [email protected] MediaICRBrittany Fraser        [email protected]  


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