Waldencast Acquisition priced its upsized IPO of 30 million units at $10 each — an upsize if 5 million more units than expected.
Units start trading today on the Nasdaq under WALDU. Each consists of one Class A ordinary share and one-third of one redeemable warrant; each whole warrant is exercisable for a share at $11.50. Once the securities constituting the units begin separate trading, shares and warrants are expected to list under WALD and WALDW, respectively.
The offering is expected to close March 18.
Waldencast intends to focus its search for a target business operating in the beauty, personal care and wellness sectors.
In connection with the iIPO, the SPAC has entered into a forward purchase agreement with sponsor Waldencast Long-Term Capital, and Dynamo Master Fund, a member of the sponsor, which will provide for the purchase of 13 million units for an aggregate price of $130 million. Read more.
