ZombieConsumer
What Happened to Waldencast plc?
Ticker: WALDSPAC Year: 2021
Return
-87.8%
Current Price
$1.22
Peak Price
$12.1
Trust Size
$746M
Summary
Waldencast is a global beauty and wellness company that owns Obagi Skincare, a physician-dispensed skincare brand, and Milk Makeup, a popular clean beauty brand.
What Happened
Waldencast went public in July 2022 through a SPAC that simultaneously acquired both Obagi Skincare and Milk Makeup in a $1.2 billion deal. Founded by former L'Oréal executive Michel Brousset, the company aims to build a multi-brand beauty platform. The stock has struggled post-merger as the company works to integrate the brands and achieve profitability, trading well below its initial valuation.
Timeline
2021-03-11
S-1 Registration Filed