Waldencast Acquisition called a July 25 meeting for shareholders to vote on the proposed mergers with skin care brand Obagi Global Holdings Limited and makeup and skin care brand Milk Makeup.
The SPAC’s registration statement on the deal has been declared effective by the SEC.
The approximately $1.2 billion merger transaction is a first step in Waldencast’s strategy to create a global multi-brand beauty and wellness platform.
Waldeencast has a $225 million credit agreement in support of the deal, plus these funding sources:
- Forward Purchase Agreements with Burwell Mountain Trust, Dynamo Master Fund (each members of Waldencast Long-Term Capital, Waldencast’s sponsor) and Beauty Ventures in the aggregate of $333 million.
- PIPE commitments of $113 million.
- Waldencast’s $345 million trust (less any redemptions). Read more.
