Vesper Healthcare Acquisition and The HydraFacial® Company today announced the closing of their business combination. Announced in December, the transaction has a pro forma enterprise value of $1.1 billion, the companies said.
The new enterprise will be known as The Beauty Health Company.
The business combination was approved April 29 by Vesper Healthcare’s stockholders with approximately 96 percent of the votes cast in favor of the transaction. Nearly 44 million shares were voted in favor of the merger. Vesper’s most recent 8-K filing shows 2,672,690 shares of Class A Stock were redeemed ahead of the merger vote.
Prior to the business combination, HydraFacial was owned by two healthcare industry private equity firms, Linden Capital Partners, which will continue to be the largest shareholder in the company, and DW Healthcare Partners IV. \
HydraFacial is now a wholly owned subsidiary of BeautyHealth. BeautyHealth’s shares will trade on the Nasdaq under SKIN starting May 6. Read more.
