Waldencast Acquisition, a blank check company formed by Waldencast Ventures and the former CFO of Anheuser-Busch InBev, raised $300 million by offering 30 million units at $10. The company offered 5 million units than anticipated. 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 Executive Chairman Felipe Dutra, who most recently served as the CFO of Anheuser-Busch InBev (Euronext: ABI; NYSE: BUD), and CEO and Director Michel Brousset, the founder and CEO of Waldencast Ventures and a former executive at L'Oréal. The company plans to leverage its management team's experience and target the beauty, personal care, and wellness sectors.
Waldencast Acquisition plans to list on the Nasdaq under the symbol WALDU. Credit Suisse and J.P. Morgan acted as lead managers on the deal.
