Waldencast Acquisition Raises $300 Million

Mar 18th, 2021

Hannah Fink

The units are expected to be listed on The Nasdaq Stock Market.

The units are expected to be listed on The Nasdaq Stock Market.

Photo by Anna Nekrashevich from Pexels

Waldencast Acquisition has raised $300 million by offering 30 million units at $10, per Renaissance Capital.

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Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.

The company may raise an additional $303 million (or up to $333 million) at the closing of an acquisition pursuant to forward purchase agreements with the sponsor, an affiliate and Beauty Ventures.

The company is led by CEO Michel Brousset, former group president of L’Oréal, and executive chairman Felipe Dutra, former CFO at Anheuser-Busch InBev.

The company plans to leverage its management team's experience and target the beauty, personal care, and wellness sectors.

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