Brief: Waldencast Acquisition Corp Says Felipe Dutra Has Been Appointed Executive Chairman Of The Board

Waldencast

15/11/2021 14:25

Nov 15 (Reuters) - Waldencast Acquisition Corp  WALD.O :
    * WALDENCAST ACQUISITION CORP SAYS FELIPE DUTRA HAS BEEN
APPOINTED
EXECUTIVE CHAIRMAN OF THE BOARD
    * WALDENCAST ACQUISITION CORP SAYS TASSILO FESTETICS HAS
BEEN
APPOINTED CHIEF FINANCIAL OFFICER, CHIEF TECHNOLOGY OFFICER
    * WALDENCAST ACQUISITION CORP SAYS FELIPE DUTRA HAS BEEN
APPOINTED
EXECUTIVE CHAIRMAN OF WALDENCAST
    * WALDENCAST ACQUISITION CORP - ANNOUNCES $1.2 BILLION
THREE-WAY
BUSINESS COMBINATION WITH OBAGI AND MILK MAKEUP
    * WALDENCAST ACQUISITION CORP - TRANSACTION VALUES
WALDENCAST AT
APPROXIMATELY $1.2 BILLION AND WILL BE FUNDED BY $345 MILLION OF
IPO CASH PROCEEDS
    * WALDENCAST ACQUISITION CORP - WALDENCAST FOUNDER AND CEO
MICHEL
BROUSSET WILL LEAD COMBINED BUSINESS
    * WALDENCAST ACQUISITION  - TRANSACTION TO ALSO BE FUNDED BY
FULLY
COMMITTED $333 MILLION FORWARD PURCHASE AGREEMENT OF WHICH $160
MILLION PROVIDED BY SPONSORS
    * WALDENCAST ACQUISITION CORP - OBAGI'S CEO, JAIME CASTLE
AND MILK
MAKEUP'S CEO, TIM COOLICAN, WILL REMAIN RESPONSIBLE FOR THEIR
RESPECTIVE BUSINESSES
    * WALDENCAST ACQUISITION - TRANSACTION TO ALSO BE FUNDED BY
FULLY
COMMITTED $105 MILLION PIPE PRICED AT $10 PER SHARE, $475
MILLION OF SELLER ROLLOVER EQUITY
    * WALDENCAST ACQUISITION - OBAGI'S & MILK MAKEUP'S EXISTING
SHAREHOLDERS EXPECTED TO HOLD EQUITY OF 20.5% & 14.9%
RESPECTIVELY IN WALDENCAST
    * WALDENCAST ACQUISITION CORP - TRANSACTION INCLUDES
SIGNIFICANT
SPONSOR ALIGNMENT WITH OTHER SHAREHOLDERS IN FORM OF $160M FPA
COMMITTED CAPITAL
    * WALDENCAST ACQUISITION - UPON CLOSING OF TRANSACTIONS WITH
OBAGI
AND MILK MAKEUP, BOTH COMPANIES WILL BECOME PART OF WALDENCAST
PORTFOLIO
    * WALDENCAST ACQUISITION - UPON CLOSE, BOTH COMPANIES WILL
BECOME
PART OF WALDENCAST PORTFOLIO, LISTED ON NASDAQ UNDER SYMBOL
"WALD."
    * WALDENCAST ACQUISITION CORP - FELIPE DUTRA WILL SERVE AS
EXECUTIVE CHAIRMAN OF BOARD OF COMBINED BUSINESS

Source text for Eikon:  ID:nBw4NLLxBa 
Further company coverage:  WALD.O 

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