SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company_老虎社区_美港股上老虎

SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company

Wall Street Journal2021-11-15

Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values ...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

Fam_Fam87
·2021-11-15
👍
回复
1
举报
SHWong
·2021-11-15
Pls like
回复
3
举报
收起
- Fam_Fam87:
  👍
  2021-11-15
  回复
  举报
MrTig3r
·2021-11-15
power
回复
2
举报
收起
- SHWong:
  Liked
  2021-11-15
  回复
  举报
KelvinChan
·2021-11-15
Nice
回复
4
举报
收起
- Dragonroar:
  nice
  2021-11-15
  回复
  举报
- Zlin:
  Ok
  2021-11-15
  回复
  举报
- KelvinChan:
  Good
  2021-11-15
  回复
  举报
Dragon1988
·2021-11-15
Like
回复
9
举报
收起
- JamesPang:
  please like and comment back
  2021-11-15
  回复
  举报
Heidit
·2021-11-15
Like
回复
8
举报
收起
- MrTig3r:
  power
  2021-11-15
  回复
  举报
- JamesPang:
  please like and comment back
  2021-11-15
  回复
  举报
Holla
·2021-11-15
Like pls
回复
6
举报
收起
- Ella12345:
  Ok
  2021-11-15
  回复
  举报
- Ajy:
  ok
  2021-11-15
  回复
  举报

热议股票

7x24

全部

关于我们·老虎社区守则·老虎社区账号管理规范·老虎社区服务协议·老虎社区隐私政策

公司名称：北京至简风宜信息技术有限公司

违法和不良信息投诉：010-5681-3562（工作时间9:30-18:30）

邮箱：service@laohu8.com

营业执照：91110105MA01A4U55R

ICP备：京ICP备18016422号

网安备：京公网安备11010502036490

关注我们

{"i18n":{"language":"zh_CN"},"data":{"share":"https://www.laohu8.com/m/news/1140283602?lang=zh_CN&edition=full","thumbnail":"","is_english":true,"pubTime":"2021-11-15 19:11","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1140283602","market":"us","top_or_hot":-1,"title":"SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company","media":"Wall Street Journal","content":"<div>\n<p>Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values ...</p>\n\n<a href=\"https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2\">网页链接</a>\n\n</div>\n","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 19:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2><strong>Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values ...</p>\n\n<a href=\"https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WALD","symbol_name":"Waldencast Acquisition Corp","start_time":0,"source_url":"https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2","article_id":"1140283602","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1140283602","pubTimestamp":1636974694,"sourceInfo":null,"weMediaInfo":null,"summary":"Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a","collect":0,"end_time":0,"defaultTopTitle":"wsj.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"WALD":"Waldencast Acquisition Corp"},"translate_title":"欧莱雅前高管领导SPAC组建12亿美元美容公司","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WALD":0.9},"content_text":"Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values the combined business at roughly $1.2 billion.\nMilk Makeup is a vegan makeup brand that is sold at Sephora, among other retailers. Obagi’s products are aimed at minimizing the appearance of sun damage, aging and acne, and are primarily available through dermatologists and other professionals.\nWaldencast’s co-founder Michel Brousset, who previously served as group president of L’Oréal North America Consumer Products, will lead the new operating company, to be named Waldencast, as chief executive. The SPAC’s other co-founder, Hind Sebti, who has worked at L’Oréal and Procter & GambleCo., will take on the role of chief operating officer.\n“We are trying to build a next-generation company that values sustainability, responsibility and inclusivity,” said Mr. Brousset, who added that he and Ms. Sebti plan to acquire smaller “purpose-driven” beauty and wellness brands and then help them grow.\nMr. Brousset said he and Ms. Sebti envisioned such a wellness company several years ago and founded Waldencast to invest in upstart beauty brands. Using a SPAC wasn’t part of the original plan.\n“Three years ago I didn’t even know what a SPAC was,” he said. They launched a SPAC earlier this year, though, because he said it allows them to rapidly fundraise and have a public currency to buy brands they like.\nSPACs are shell companies that raise money and list shares on a stock exchange with the aim of merging with a private company—or, in this case, companies. After striking a deal, the private startups release detailed financial information, and regulators review the merger. Investors also vote on whether to approve a proposed acquisition. Once the deal closes, the private company starts trading on the stock market, replacing the SPAC.\nWaldencast went public in March and currently has a market value of over $400 million.\nSPACs are having a record year in 2021, eclipsing the prior record in 2020. Startups often like merging with so-called blank-check companies in part because they can lock in a value—and amount of cash raised—unlike in a typical IPO. When they go public via a SPAC merger, startups also are allowed to make business projections that aren’t allowed in traditional IPOs.\nThe finances of the Waldencast deal differ in some respects from those of traditional SPAC mergers.\nWaldencast’s transaction to buy Milk Makeup and Obagi will be funded by $345 million in cash from the SPAC’s IPO, so long as investors don’t redeem their SPAC shares. There is additional money coming in the form of two forward-purchase agreements, $160 million of which is the sponsor’s capital as well as a private investment in public equity, or PIPE. An additional $475 million in Waldencast’s postdeal valuation comes from equity from the two merging startups.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":873454520,"gmtCreate":1636980787971,"gmtModify":1636980788254,"author":{"id":"3574492498982218","authorId":"3574492498982218","name":"Fam_Fam87","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/873454520","repostId":1140283602,"repostType":4,"repost":{"id":"1140283602","pubTimestamp":1636974694,"share":"https://www.laohu8.com/m/news/1140283602?lang=&edition=full","pubTime":"2021-11-15 19:11","market":"us","language":"en","title":"SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company","url":"https://stock-news.laohu8.com/highlight/detail?id=1140283602","media":"Wall Street Journal","summary":"Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a","content":"<p>Skincare startup Obagi and makeup brand Milk Makeup are merging with&nbsp;Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former&nbsp;L’Oréal&nbsp;executives in a deal that values the combined business at roughly $1.2 billion.</p>\n<p>Milk Makeup is a vegan makeup brand that is sold at Sephora, among other retailers. Obagi’s products are aimed at minimizing the appearance of sun damage, aging and acne, and are primarily available through dermatologists and other professionals.</p>\n<p>Waldencast’s co-founder Michel Brousset, who previously served as group president of L’Oréal North America Consumer Products, will lead the new operating company, to be named Waldencast, as chief executive. The SPAC’s other co-founder, Hind Sebti, who has worked at L’Oréal and&nbsp;Procter &amp; GambleCo., will take on the role of chief operating officer.</p>\n<p>“We are trying to build a next-generation company that values sustainability, responsibility and inclusivity,” said Mr. Brousset, who added that he and Ms. Sebti plan to acquire smaller “purpose-driven” beauty and wellness brands and then help them grow.</p>\n<p>Mr. Brousset said he and Ms. Sebti envisioned such a wellness company several years ago and founded Waldencast to invest in upstart beauty brands. Using a SPAC wasn’t part of the original plan.</p>\n<p>“Three years ago I didn’t even know what a SPAC was,” he said. They launched a SPAC earlier this year, though, because he said it allows them to rapidly fundraise and have a public currency to buy brands they like.</p>\n<p>SPACs are shell companies&nbsp;that raise money and list shares on a stock exchange with the aim of merging with a private company—or, in this case, companies. After striking a deal, the private startups release detailed financial information, and regulators review the merger. Investors also vote on whether to approve a proposed acquisition. Once the deal closes, the private company starts trading on the stock market, replacing the SPAC.</p>\n<p>Waldencast went public in March and currently has a market value of over $400 million.</p>\n<p>SPACs&nbsp;are having a record year&nbsp;in 2021, eclipsing the prior record in 2020. Startups often like merging with so-called blank-check companies in part because they can lock in a value—and amount of cash raised—unlike in a typical IPO. When they go public via a SPAC merger, startups also are allowed to make business projections that aren’t allowed in traditional IPOs.</p>\n<p>The finances of the Waldencast deal differ in some respects from those of traditional SPAC mergers.</p>\n<p>Waldencast’s transaction to buy Milk Makeup and Obagi will be funded by $345 million in cash from the SPAC’s IPO, so long as investors don’t redeem their SPAC shares. There is additional money coming in the form of two forward-purchase agreements, $160 million of which is the sponsor’s capital as well as a private investment in public equity, or PIPE. An additional $475 million in Waldencast’s postdeal valuation comes from equity from the two merging startups.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 19:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2><strong>Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values ...</p>\n\n<a href=\"https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WALD":"Waldencast Acquisition Corp"},"source_url":"https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140283602","content_text":"Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values the combined business at roughly $1.2 billion.\nMilk Makeup is a vegan makeup brand that is sold at Sephora, among other retailers. Obagi’s products are aimed at minimizing the appearance of sun damage, aging and acne, and are primarily available through dermatologists and other professionals.\nWaldencast’s co-founder Michel Brousset, who previously served as group president of L’Oréal North America Consumer Products, will lead the new operating company, to be named Waldencast, as chief executive. The SPAC’s other co-founder, Hind Sebti, who has worked at L’Oréal and Procter & GambleCo., will take on the role of chief operating officer.\n“We are trying to build a next-generation company that values sustainability, responsibility and inclusivity,” said Mr. Brousset, who added that he and Ms. Sebti plan to acquire smaller “purpose-driven” beauty and wellness brands and then help them grow.\nMr. Brousset said he and Ms. Sebti envisioned such a wellness company several years ago and founded Waldencast to invest in upstart beauty brands. Using a SPAC wasn’t part of the original plan.\n“Three years ago I didn’t even know what a SPAC was,” he said. They launched a SPAC earlier this year, though, because he said it allows them to rapidly fundraise and have a public currency to buy brands they like.\nSPACs are shell companies that raise money and list shares on a stock exchange with the aim of merging with a private company—or, in this case, companies. After striking a deal, the private startups release detailed financial information, and regulators review the merger. Investors also vote on whether to approve a proposed acquisition. Once the deal closes, the private company starts trading on the stock market, replacing the SPAC.\nWaldencast went public in March and currently has a market value of over $400 million.\nSPACs are having a record year in 2021, eclipsing the prior record in 2020. Startups often like merging with so-called blank-check companies in part because they can lock in a value—and amount of cash raised—unlike in a typical IPO. When they go public via a SPAC merger, startups also are allowed to make business projections that aren’t allowed in traditional IPOs.\nThe finances of the Waldencast deal differ in some respects from those of traditional SPAC mergers.\nWaldencast’s transaction to buy Milk Makeup and Obagi will be funded by $345 million in cash from the SPAC’s IPO, so long as investors don’t redeem their SPAC shares. There is additional money coming in the form of two forward-purchase agreements, $160 million of which is the sponsor’s capital as well as a private investment in public equity, or PIPE. An additional $475 million in Waldencast’s postdeal valuation comes from equity from the two merging startups.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":873420869,"gmtCreate":1636978900485,"gmtModify":1636978900637,"author":{"id":"4087529754286040","authorId":"4087529754286040","name":"SHWong","avatar":"https://static.tigerbbs.com/274f969ad8f1b9a4a87c520c04f905a0","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Pls like","listText":"Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/873420869","repostId":1140283602,"repostType":4,"repost":{"id":"1140283602","pubTimestamp":1636974694,"share":"https://www.laohu8.com/m/news/1140283602?lang=&edition=full","pubTime":"2021-11-15 19:11","market":"us","language":"en","title":"SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company","url":"https://stock-news.laohu8.com/highlight/detail?id=1140283602","media":"Wall Street Journal","summary":"Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a","content":"<p>Skincare startup Obagi and makeup brand Milk Makeup are merging with&nbsp;Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former&nbsp;L’Oréal&nbsp;executives in a deal that values the combined business at roughly $1.2 billion.</p>\n<p>Milk Makeup is a vegan makeup brand that is sold at Sephora, among other retailers. Obagi’s products are aimed at minimizing the appearance of sun damage, aging and acne, and are primarily available through dermatologists and other professionals.</p>\n<p>Waldencast’s co-founder Michel Brousset, who previously served as group president of L’Oréal North America Consumer Products, will lead the new operating company, to be named Waldencast, as chief executive. The SPAC’s other co-founder, Hind Sebti, who has worked at L’Oréal and&nbsp;Procter &amp; GambleCo., will take on the role of chief operating officer.</p>\n<p>“We are trying to build a next-generation company that values sustainability, responsibility and inclusivity,” said Mr. Brousset, who added that he and Ms. Sebti plan to acquire smaller “purpose-driven” beauty and wellness brands and then help them grow.</p>\n<p>Mr. Brousset said he and Ms. Sebti envisioned such a wellness company several years ago and founded Waldencast to invest in upstart beauty brands. Using a SPAC wasn’t part of the original plan.</p>\n<p>“Three years ago I didn’t even know what a SPAC was,” he said. They launched a SPAC earlier this year, though, because he said it allows them to rapidly fundraise and have a public currency to buy brands they like.</p>\n<p>SPACs are shell companies&nbsp;that raise money and list shares on a stock exchange with the aim of merging with a private company—or, in this case, companies. After striking a deal, the private startups release detailed financial information, and regulators review the merger. Investors also vote on whether to approve a proposed acquisition. Once the deal closes, the private company starts trading on the stock market, replacing the SPAC.</p>\n<p>Waldencast went public in March and currently has a market value of over $400 million.</p>\n<p>SPACs&nbsp;are having a record year&nbsp;in 2021, eclipsing the prior record in 2020. Startups often like merging with so-called blank-check companies in part because they can lock in a value—and amount of cash raised—unlike in a typical IPO. When they go public via a SPAC merger, startups also are allowed to make business projections that aren’t allowed in traditional IPOs.</p>\n<p>The finances of the Waldencast deal differ in some respects from those of traditional SPAC mergers.</p>\n<p>Waldencast’s transaction to buy Milk Makeup and Obagi will be funded by $345 million in cash from the SPAC’s IPO, so long as investors don’t redeem their SPAC shares. There is additional money coming in the form of two forward-purchase agreements, $160 million of which is the sponsor’s capital as well as a private investment in public equity, or PIPE. An additional $475 million in Waldencast’s postdeal valuation comes from equity from the two merging startups.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 19:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2><strong>Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values ...</p>\n\n<a href=\"https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WALD":"Waldencast Acquisition Corp"},"source_url":"https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140283602","content_text":"Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values the combined business at roughly $1.2 billion.\nMilk Makeup is a vegan makeup brand that is sold at Sephora, among other retailers. Obagi’s products are aimed at minimizing the appearance of sun damage, aging and acne, and are primarily available through dermatologists and other professionals.\nWaldencast’s co-founder Michel Brousset, who previously served as group president of L’Oréal North America Consumer Products, will lead the new operating company, to be named Waldencast, as chief executive. The SPAC’s other co-founder, Hind Sebti, who has worked at L’Oréal and Procter & GambleCo., will take on the role of chief operating officer.\n“We are trying to build a next-generation company that values sustainability, responsibility and inclusivity,” said Mr. Brousset, who added that he and Ms. Sebti plan to acquire smaller “purpose-driven” beauty and wellness brands and then help them grow.\nMr. Brousset said he and Ms. Sebti envisioned such a wellness company several years ago and founded Waldencast to invest in upstart beauty brands. Using a SPAC wasn’t part of the original plan.\n“Three years ago I didn’t even know what a SPAC was,” he said. They launched a SPAC earlier this year, though, because he said it allows them to rapidly fundraise and have a public currency to buy brands they like.\nSPACs are shell companies that raise money and list shares on a stock exchange with the aim of merging with a private company—or, in this case, companies. After striking a deal, the private startups release detailed financial information, and regulators review the merger. Investors also vote on whether to approve a proposed acquisition. Once the deal closes, the private company starts trading on the stock market, replacing the SPAC.\nWaldencast went public in March and currently has a market value of over $400 million.\nSPACs are having a record year in 2021, eclipsing the prior record in 2020. Startups often like merging with so-called blank-check companies in part because they can lock in a value—and amount of cash raised—unlike in a typical IPO. When they go public via a SPAC merger, startups also are allowed to make business projections that aren’t allowed in traditional IPOs.\nThe finances of the Waldencast deal differ in some respects from those of traditional SPAC mergers.\nWaldencast’s transaction to buy Milk Makeup and Obagi will be funded by $345 million in cash from the SPAC’s IPO, so long as investors don’t redeem their SPAC shares. There is additional money coming in the form of two forward-purchase agreements, $160 million of which is the sponsor’s capital as well as a private investment in public equity, or PIPE. An additional $475 million in Waldencast’s postdeal valuation comes from equity from the two merging startups.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6586726,"gmtCreate":1636980780100,"gmtModify":1636980780131,"authorId":3574492498982218,"author":{"id":3574492498982218,"authorId":3574492498982218,"name":"Fam_Fam87","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873420869,"type":1,"supId":0,"prevId":0,"content":"👍","text":"👍","html":"👍"}],"langContent":"CN"},{"id":873486450,"gmtCreate":1636976569101,"gmtModify":1636976569322,"author":{"id":"3584333947690568","authorId":"3584333947690568","name":"MrTig3r","avatar":"https://static.tigerbbs.com/b99cfe4b0a492018c40761a39a193aa8","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"power","listText":"power","text":"power","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/873486450","repostId":1140283602,"repostType":4,"repost":{"id":"1140283602","pubTimestamp":1636974694,"share":"https://www.laohu8.com/m/news/1140283602?lang=&edition=full","pubTime":"2021-11-15 19:11","market":"us","language":"en","title":"SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company","url":"https://stock-news.laohu8.com/highlight/detail?id=1140283602","media":"Wall Street Journal","summary":"Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a","content":"<p>Skincare startup Obagi and makeup brand Milk Makeup are merging with&nbsp;Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former&nbsp;L’Oréal&nbsp;executives in a deal that values the combined business at roughly $1.2 billion.</p>\n<p>Milk Makeup is a vegan makeup brand that is sold at Sephora, among other retailers. Obagi’s products are aimed at minimizing the appearance of sun damage, aging and acne, and are primarily available through dermatologists and other professionals.</p>\n<p>Waldencast’s co-founder Michel Brousset, who previously served as group president of L’Oréal North America Consumer Products, will lead the new operating company, to be named Waldencast, as chief executive. The SPAC’s other co-founder, Hind Sebti, who has worked at L’Oréal and&nbsp;Procter &amp; GambleCo., will take on the role of chief operating officer.</p>\n<p>“We are trying to build a next-generation company that values sustainability, responsibility and inclusivity,” said Mr. Brousset, who added that he and Ms. Sebti plan to acquire smaller “purpose-driven” beauty and wellness brands and then help them grow.</p>\n<p>Mr. Brousset said he and Ms. Sebti envisioned such a wellness company several years ago and founded Waldencast to invest in upstart beauty brands. Using a SPAC wasn’t part of the original plan.</p>\n<p>“Three years ago I didn’t even know what a SPAC was,” he said. They launched a SPAC earlier this year, though, because he said it allows them to rapidly fundraise and have a public currency to buy brands they like.</p>\n<p>SPACs are shell companies&nbsp;that raise money and list shares on a stock exchange with the aim of merging with a private company—or, in this case, companies. After striking a deal, the private startups release detailed financial information, and regulators review the merger. Investors also vote on whether to approve a proposed acquisition. Once the deal closes, the private company starts trading on the stock market, replacing the SPAC.</p>\n<p>Waldencast went public in March and currently has a market value of over $400 million.</p>\n<p>SPACs&nbsp;are having a record year&nbsp;in 2021, eclipsing the prior record in 2020. Startups often like merging with so-called blank-check companies in part because they can lock in a value—and amount of cash raised—unlike in a typical IPO. When they go public via a SPAC merger, startups also are allowed to make business projections that aren’t allowed in traditional IPOs.</p>\n<p>The finances of the Waldencast deal differ in some respects from those of traditional SPAC mergers.</p>\n<p>Waldencast’s transaction to buy Milk Makeup and Obagi will be funded by $345 million in cash from the SPAC’s IPO, so long as investors don’t redeem their SPAC shares. There is additional money coming in the form of two forward-purchase agreements, $160 million of which is the sponsor’s capital as well as a private investment in public equity, or PIPE. An additional $475 million in Waldencast’s postdeal valuation comes from equity from the two merging startups.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 19:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2><strong>Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values ...</p>\n\n<a href=\"https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WALD":"Waldencast Acquisition Corp"},"source_url":"https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140283602","content_text":"Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values the combined business at roughly $1.2 billion.\nMilk Makeup is a vegan makeup brand that is sold at Sephora, among other retailers. Obagi’s products are aimed at minimizing the appearance of sun damage, aging and acne, and are primarily available through dermatologists and other professionals.\nWaldencast’s co-founder Michel Brousset, who previously served as group president of L’Oréal North America Consumer Products, will lead the new operating company, to be named Waldencast, as chief executive. The SPAC’s other co-founder, Hind Sebti, who has worked at L’Oréal and Procter & GambleCo., will take on the role of chief operating officer.\n“We are trying to build a next-generation company that values sustainability, responsibility and inclusivity,” said Mr. Brousset, who added that he and Ms. Sebti plan to acquire smaller “purpose-driven” beauty and wellness brands and then help them grow.\nMr. Brousset said he and Ms. Sebti envisioned such a wellness company several years ago and founded Waldencast to invest in upstart beauty brands. Using a SPAC wasn’t part of the original plan.\n“Three years ago I didn’t even know what a SPAC was,” he said. They launched a SPAC earlier this year, though, because he said it allows them to rapidly fundraise and have a public currency to buy brands they like.\nSPACs are shell companies that raise money and list shares on a stock exchange with the aim of merging with a private company—or, in this case, companies. After striking a deal, the private startups release detailed financial information, and regulators review the merger. Investors also vote on whether to approve a proposed acquisition. Once the deal closes, the private company starts trading on the stock market, replacing the SPAC.\nWaldencast went public in March and currently has a market value of over $400 million.\nSPACs are having a record year in 2021, eclipsing the prior record in 2020. Startups often like merging with so-called blank-check companies in part because they can lock in a value—and amount of cash raised—unlike in a typical IPO. When they go public via a SPAC merger, startups also are allowed to make business projections that aren’t allowed in traditional IPOs.\nThe finances of the Waldencast deal differ in some respects from those of traditional SPAC mergers.\nWaldencast’s transaction to buy Milk Makeup and Obagi will be funded by $345 million in cash from the SPAC’s IPO, so long as investors don’t redeem their SPAC shares. There is additional money coming in the form of two forward-purchase agreements, $160 million of which is the sponsor’s capital as well as a private investment in public equity, or PIPE. An additional $475 million in Waldencast’s postdeal valuation comes from equity from the two merging startups.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6586404,"gmtCreate":1636978888383,"gmtModify":1636978888415,"authorId":4087529754286040,"author":{"id":4087529754286040,"authorId":4087529754286040,"name":"SHWong","avatar":"https://static.tigerbbs.com/274f969ad8f1b9a4a87c520c04f905a0","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873486450,"type":1,"supId":0,"prevId":0,"content":"Liked","text":"Liked","html":"Liked"}],"langContent":"CN"},{"id":873417245,"gmtCreate":1636975588569,"gmtModify":1636975588715,"author":{"id":"3570776252336545","authorId":"3570776252336545","name":"KelvinChan","avatar":"https://static.tigerbbs.com/322f5dea7567e161ddef26aec462d83d","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/873417245","repostId":1140283602,"repostType":4,"repost":{"id":"1140283602","pubTimestamp":1636974694,"share":"https://www.laohu8.com/m/news/1140283602?lang=&edition=full","pubTime":"2021-11-15 19:11","market":"us","language":"en","title":"SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company","url":"https://stock-news.laohu8.com/highlight/detail?id=1140283602","media":"Wall Street Journal","summary":"Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a","content":"<p>Skincare startup Obagi and makeup brand Milk Makeup are merging with&nbsp;Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former&nbsp;L’Oréal&nbsp;executives in a deal that values the combined business at roughly $1.2 billion.</p>\n<p>Milk Makeup is a vegan makeup brand that is sold at Sephora, among other retailers. Obagi’s products are aimed at minimizing the appearance of sun damage, aging and acne, and are primarily available through dermatologists and other professionals.</p>\n<p>Waldencast’s co-founder Michel Brousset, who previously served as group president of L’Oréal North America Consumer Products, will lead the new operating company, to be named Waldencast, as chief executive. The SPAC’s other co-founder, Hind Sebti, who has worked at L’Oréal and&nbsp;Procter &amp; GambleCo., will take on the role of chief operating officer.</p>\n<p>“We are trying to build a next-generation company that values sustainability, responsibility and inclusivity,” said Mr. Brousset, who added that he and Ms. Sebti plan to acquire smaller “purpose-driven” beauty and wellness brands and then help them grow.</p>\n<p>Mr. Brousset said he and Ms. Sebti envisioned such a wellness company several years ago and founded Waldencast to invest in upstart beauty brands. Using a SPAC wasn’t part of the original plan.</p>\n<p>“Three years ago I didn’t even know what a SPAC was,” he said. They launched a SPAC earlier this year, though, because he said it allows them to rapidly fundraise and have a public currency to buy brands they like.</p>\n<p>SPACs are shell companies&nbsp;that raise money and list shares on a stock exchange with the aim of merging with a private company—or, in this case, companies. After striking a deal, the private startups release detailed financial information, and regulators review the merger. Investors also vote on whether to approve a proposed acquisition. Once the deal closes, the private company starts trading on the stock market, replacing the SPAC.</p>\n<p>Waldencast went public in March and currently has a market value of over $400 million.</p>\n<p>SPACs&nbsp;are having a record year&nbsp;in 2021, eclipsing the prior record in 2020. Startups often like merging with so-called blank-check companies in part because they can lock in a value—and amount of cash raised—unlike in a typical IPO. When they go public via a SPAC merger, startups also are allowed to make business projections that aren’t allowed in traditional IPOs.</p>\n<p>The finances of the Waldencast deal differ in some respects from those of traditional SPAC mergers.</p>\n<p>Waldencast’s transaction to buy Milk Makeup and Obagi will be funded by $345 million in cash from the SPAC’s IPO, so long as investors don’t redeem their SPAC shares. There is additional money coming in the form of two forward-purchase agreements, $160 million of which is the sponsor’s capital as well as a private investment in public equity, or PIPE. An additional $475 million in Waldencast’s postdeal valuation comes from equity from the two merging startups.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 19:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2><strong>Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values ...</p>\n\n<a href=\"https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WALD":"Waldencast Acquisition Corp"},"source_url":"https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140283602","content_text":"Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values the combined business at roughly $1.2 billion.\nMilk Makeup is a vegan makeup brand that is sold at Sephora, among other retailers. Obagi’s products are aimed at minimizing the appearance of sun damage, aging and acne, and are primarily available through dermatologists and other professionals.\nWaldencast’s co-founder Michel Brousset, who previously served as group president of L’Oréal North America Consumer Products, will lead the new operating company, to be named Waldencast, as chief executive. The SPAC’s other co-founder, Hind Sebti, who has worked at L’Oréal and Procter & GambleCo., will take on the role of chief operating officer.\n“We are trying to build a next-generation company that values sustainability, responsibility and inclusivity,” said Mr. Brousset, who added that he and Ms. Sebti plan to acquire smaller “purpose-driven” beauty and wellness brands and then help them grow.\nMr. Brousset said he and Ms. Sebti envisioned such a wellness company several years ago and founded Waldencast to invest in upstart beauty brands. Using a SPAC wasn’t part of the original plan.\n“Three years ago I didn’t even know what a SPAC was,” he said. They launched a SPAC earlier this year, though, because he said it allows them to rapidly fundraise and have a public currency to buy brands they like.\nSPACs are shell companies that raise money and list shares on a stock exchange with the aim of merging with a private company—or, in this case, companies. After striking a deal, the private startups release detailed financial information, and regulators review the merger. Investors also vote on whether to approve a proposed acquisition. Once the deal closes, the private company starts trading on the stock market, replacing the SPAC.\nWaldencast went public in March and currently has a market value of over $400 million.\nSPACs are having a record year in 2021, eclipsing the prior record in 2020. Startups often like merging with so-called blank-check companies in part because they can lock in a value—and amount of cash raised—unlike in a typical IPO. When they go public via a SPAC merger, startups also are allowed to make business projections that aren’t allowed in traditional IPOs.\nThe finances of the Waldencast deal differ in some respects from those of traditional SPAC mergers.\nWaldencast’s transaction to buy Milk Makeup and Obagi will be funded by $345 million in cash from the SPAC’s IPO, so long as investors don’t redeem their SPAC shares. There is additional money coming in the form of two forward-purchase agreements, $160 million of which is the sponsor’s capital as well as a private investment in public equity, or PIPE. An additional $475 million in Waldencast’s postdeal valuation comes from equity from the two merging startups.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6586002,"gmtCreate":1636976133057,"gmtModify":1636976133093,"authorId":3586969379790251,"author":{"id":3586969379790251,"authorId":3586969379790251,"name":"Dragonroar","avatar":"https://static.tigerbbs.com/c85f59035023e669e7f4f44f503edbbe","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873417245,"type":1,"supId":6585995,"prevId":0,"content":"<u>nice</u>","text":"<u>nice</u>","html":"<u>nice</u>"},{"id":6585995,"gmtCreate":1636976024347,"gmtModify":1636976024433,"authorId":4088047212610360,"author":{"id":4088047212610360,"authorId":4088047212610360,"name":"Zlin","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873417245,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":6585942,"gmtCreate":1636975599511,"gmtModify":1636975599604,"authorId":3570776252336545,"author":{"id":3570776252336545,"authorId":3570776252336545,"name":"KelvinChan","avatar":"https://static.tigerbbs.com/322f5dea7567e161ddef26aec462d83d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873417245,"type":1,"supId":0,"prevId":0,"content":"Good","text":"Good","html":"Good"}],"langContent":"CN"},{"id":873412786,"gmtCreate":1636975153271,"gmtModify":1636975153359,"author":{"id":"3582274583954299","authorId":"3582274583954299","name":"Dragon1988","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/873412786","repostId":1140283602,"repostType":4,"repost":{"id":"1140283602","pubTimestamp":1636974694,"share":"https://www.laohu8.com/m/news/1140283602?lang=&edition=full","pubTime":"2021-11-15 19:11","market":"us","language":"en","title":"SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company","url":"https://stock-news.laohu8.com/highlight/detail?id=1140283602","media":"Wall Street Journal","summary":"Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a","content":"<p>Skincare startup Obagi and makeup brand Milk Makeup are merging with&nbsp;Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former&nbsp;L’Oréal&nbsp;executives in a deal that values the combined business at roughly $1.2 billion.</p>\n<p>Milk Makeup is a vegan makeup brand that is sold at Sephora, among other retailers. Obagi’s products are aimed at minimizing the appearance of sun damage, aging and acne, and are primarily available through dermatologists and other professionals.</p>\n<p>Waldencast’s co-founder Michel Brousset, who previously served as group president of L’Oréal North America Consumer Products, will lead the new operating company, to be named Waldencast, as chief executive. The SPAC’s other co-founder, Hind Sebti, who has worked at L’Oréal and&nbsp;Procter &amp; GambleCo., will take on the role of chief operating officer.</p>\n<p>“We are trying to build a next-generation company that values sustainability, responsibility and inclusivity,” said Mr. Brousset, who added that he and Ms. Sebti plan to acquire smaller “purpose-driven” beauty and wellness brands and then help them grow.</p>\n<p>Mr. Brousset said he and Ms. Sebti envisioned such a wellness company several years ago and founded Waldencast to invest in upstart beauty brands. Using a SPAC wasn’t part of the original plan.</p>\n<p>“Three years ago I didn’t even know what a SPAC was,” he said. They launched a SPAC earlier this year, though, because he said it allows them to rapidly fundraise and have a public currency to buy brands they like.</p>\n<p>SPACs are shell companies&nbsp;that raise money and list shares on a stock exchange with the aim of merging with a private company—or, in this case, companies. After striking a deal, the private startups release detailed financial information, and regulators review the merger. Investors also vote on whether to approve a proposed acquisition. Once the deal closes, the private company starts trading on the stock market, replacing the SPAC.</p>\n<p>Waldencast went public in March and currently has a market value of over $400 million.</p>\n<p>SPACs&nbsp;are having a record year&nbsp;in 2021, eclipsing the prior record in 2020. Startups often like merging with so-called blank-check companies in part because they can lock in a value—and amount of cash raised—unlike in a typical IPO. When they go public via a SPAC merger, startups also are allowed to make business projections that aren’t allowed in traditional IPOs.</p>\n<p>The finances of the Waldencast deal differ in some respects from those of traditional SPAC mergers.</p>\n<p>Waldencast’s transaction to buy Milk Makeup and Obagi will be funded by $345 million in cash from the SPAC’s IPO, so long as investors don’t redeem their SPAC shares. There is additional money coming in the form of two forward-purchase agreements, $160 million of which is the sponsor’s capital as well as a private investment in public equity, or PIPE. An additional $475 million in Waldencast’s postdeal valuation comes from equity from the two merging startups.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 19:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2><strong>Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values ...</p>\n\n<a href=\"https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WALD":"Waldencast Acquisition Corp"},"source_url":"https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140283602","content_text":"Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values the combined business at roughly $1.2 billion.\nMilk Makeup is a vegan makeup brand that is sold at Sephora, among other retailers. Obagi’s products are aimed at minimizing the appearance of sun damage, aging and acne, and are primarily available through dermatologists and other professionals.\nWaldencast’s co-founder Michel Brousset, who previously served as group president of L’Oréal North America Consumer Products, will lead the new operating company, to be named Waldencast, as chief executive. The SPAC’s other co-founder, Hind Sebti, who has worked at L’Oréal and Procter & GambleCo., will take on the role of chief operating officer.\n“We are trying to build a next-generation company that values sustainability, responsibility and inclusivity,” said Mr. Brousset, who added that he and Ms. Sebti plan to acquire smaller “purpose-driven” beauty and wellness brands and then help them grow.\nMr. Brousset said he and Ms. Sebti envisioned such a wellness company several years ago and founded Waldencast to invest in upstart beauty brands. Using a SPAC wasn’t part of the original plan.\n“Three years ago I didn’t even know what a SPAC was,” he said. They launched a SPAC earlier this year, though, because he said it allows them to rapidly fundraise and have a public currency to buy brands they like.\nSPACs are shell companies that raise money and list shares on a stock exchange with the aim of merging with a private company—or, in this case, companies. After striking a deal, the private startups release detailed financial information, and regulators review the merger. Investors also vote on whether to approve a proposed acquisition. Once the deal closes, the private company starts trading on the stock market, replacing the SPAC.\nWaldencast went public in March and currently has a market value of over $400 million.\nSPACs are having a record year in 2021, eclipsing the prior record in 2020. Startups often like merging with so-called blank-check companies in part because they can lock in a value—and amount of cash raised—unlike in a typical IPO. When they go public via a SPAC merger, startups also are allowed to make business projections that aren’t allowed in traditional IPOs.\nThe finances of the Waldencast deal differ in some respects from those of traditional SPAC mergers.\nWaldencast’s transaction to buy Milk Makeup and Obagi will be funded by $345 million in cash from the SPAC’s IPO, so long as investors don’t redeem their SPAC shares. There is additional money coming in the form of two forward-purchase agreements, $160 million of which is the sponsor’s capital as well as a private investment in public equity, or PIPE. An additional $475 million in Waldencast’s postdeal valuation comes from equity from the two merging startups.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6585858,"gmtCreate":1636975199659,"gmtModify":1636975199752,"authorId":3571697757751706,"author":{"id":3571697757751706,"authorId":3571697757751706,"name":"JamesPang","avatar":"https://static.tigerbbs.com/7be8c64b1475bb8d5afdfd812323bd46","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873412786,"type":1,"supId":0,"prevId":0,"content":"please like and comment back","text":"please like and comment back","html":"please like and comment back"}],"langContent":"CN"},{"id":873416785,"gmtCreate":1636975023090,"gmtModify":1636975023259,"author":{"id":"3585567341976837","authorId":"3585567341976837","name":"Heidit","avatar":"https://static.tigerbbs.com/b15a14bcb1e7c71684448d84f3e500e7","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/873416785","repostId":1140283602,"repostType":4,"repost":{"id":"1140283602","pubTimestamp":1636974694,"share":"https://www.laohu8.com/m/news/1140283602?lang=&edition=full","pubTime":"2021-11-15 19:11","market":"us","language":"en","title":"SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company","url":"https://stock-news.laohu8.com/highlight/detail?id=1140283602","media":"Wall Street Journal","summary":"Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a","content":"<p>Skincare startup Obagi and makeup brand Milk Makeup are merging with&nbsp;Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former&nbsp;L’Oréal&nbsp;executives in a deal that values the combined business at roughly $1.2 billion.</p>\n<p>Milk Makeup is a vegan makeup brand that is sold at Sephora, among other retailers. Obagi’s products are aimed at minimizing the appearance of sun damage, aging and acne, and are primarily available through dermatologists and other professionals.</p>\n<p>Waldencast’s co-founder Michel Brousset, who previously served as group president of L’Oréal North America Consumer Products, will lead the new operating company, to be named Waldencast, as chief executive. The SPAC’s other co-founder, Hind Sebti, who has worked at L’Oréal and&nbsp;Procter &amp; GambleCo., will take on the role of chief operating officer.</p>\n<p>“We are trying to build a next-generation company that values sustainability, responsibility and inclusivity,” said Mr. Brousset, who added that he and Ms. Sebti plan to acquire smaller “purpose-driven” beauty and wellness brands and then help them grow.</p>\n<p>Mr. Brousset said he and Ms. Sebti envisioned such a wellness company several years ago and founded Waldencast to invest in upstart beauty brands. Using a SPAC wasn’t part of the original plan.</p>\n<p>“Three years ago I didn’t even know what a SPAC was,” he said. They launched a SPAC earlier this year, though, because he said it allows them to rapidly fundraise and have a public currency to buy brands they like.</p>\n<p>SPACs are shell companies&nbsp;that raise money and list shares on a stock exchange with the aim of merging with a private company—or, in this case, companies. After striking a deal, the private startups release detailed financial information, and regulators review the merger. Investors also vote on whether to approve a proposed acquisition. Once the deal closes, the private company starts trading on the stock market, replacing the SPAC.</p>\n<p>Waldencast went public in March and currently has a market value of over $400 million.</p>\n<p>SPACs&nbsp;are having a record year&nbsp;in 2021, eclipsing the prior record in 2020. Startups often like merging with so-called blank-check companies in part because they can lock in a value—and amount of cash raised—unlike in a typical IPO. When they go public via a SPAC merger, startups also are allowed to make business projections that aren’t allowed in traditional IPOs.</p>\n<p>The finances of the Waldencast deal differ in some respects from those of traditional SPAC mergers.</p>\n<p>Waldencast’s transaction to buy Milk Makeup and Obagi will be funded by $345 million in cash from the SPAC’s IPO, so long as investors don’t redeem their SPAC shares. There is additional money coming in the form of two forward-purchase agreements, $160 million of which is the sponsor’s capital as well as a private investment in public equity, or PIPE. An additional $475 million in Waldencast’s postdeal valuation comes from equity from the two merging startups.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 19:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2><strong>Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values ...</p>\n\n<a href=\"https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WALD":"Waldencast Acquisition Corp"},"source_url":"https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140283602","content_text":"Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values the combined business at roughly $1.2 billion.\nMilk Makeup is a vegan makeup brand that is sold at Sephora, among other retailers. Obagi’s products are aimed at minimizing the appearance of sun damage, aging and acne, and are primarily available through dermatologists and other professionals.\nWaldencast’s co-founder Michel Brousset, who previously served as group president of L’Oréal North America Consumer Products, will lead the new operating company, to be named Waldencast, as chief executive. The SPAC’s other co-founder, Hind Sebti, who has worked at L’Oréal and Procter & GambleCo., will take on the role of chief operating officer.\n“We are trying to build a next-generation company that values sustainability, responsibility and inclusivity,” said Mr. Brousset, who added that he and Ms. Sebti plan to acquire smaller “purpose-driven” beauty and wellness brands and then help them grow.\nMr. Brousset said he and Ms. Sebti envisioned such a wellness company several years ago and founded Waldencast to invest in upstart beauty brands. Using a SPAC wasn’t part of the original plan.\n“Three years ago I didn’t even know what a SPAC was,” he said. They launched a SPAC earlier this year, though, because he said it allows them to rapidly fundraise and have a public currency to buy brands they like.\nSPACs are shell companies that raise money and list shares on a stock exchange with the aim of merging with a private company—or, in this case, companies. After striking a deal, the private startups release detailed financial information, and regulators review the merger. Investors also vote on whether to approve a proposed acquisition. Once the deal closes, the private company starts trading on the stock market, replacing the SPAC.\nWaldencast went public in March and currently has a market value of over $400 million.\nSPACs are having a record year in 2021, eclipsing the prior record in 2020. Startups often like merging with so-called blank-check companies in part because they can lock in a value—and amount of cash raised—unlike in a typical IPO. When they go public via a SPAC merger, startups also are allowed to make business projections that aren’t allowed in traditional IPOs.\nThe finances of the Waldencast deal differ in some respects from those of traditional SPAC mergers.\nWaldencast’s transaction to buy Milk Makeup and Obagi will be funded by $345 million in cash from the SPAC’s IPO, so long as investors don’t redeem their SPAC shares. There is additional money coming in the form of two forward-purchase agreements, $160 million of which is the sponsor’s capital as well as a private investment in public equity, or PIPE. An additional $475 million in Waldencast’s postdeal valuation comes from equity from the two merging startups.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6586069,"gmtCreate":1636976557788,"gmtModify":1636976557880,"authorId":3584333947690568,"author":{"id":3584333947690568,"authorId":3584333947690568,"name":"MrTig3r","avatar":"https://static.tigerbbs.com/b99cfe4b0a492018c40761a39a193aa8","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873416785,"type":1,"supId":0,"prevId":0,"content":"<u>power</u>","text":"<u>power</u>","html":"<u>power</u>"},{"id":6585862,"gmtCreate":1636975205533,"gmtModify":1636975205630,"authorId":3571697757751706,"author":{"id":3571697757751706,"authorId":3571697757751706,"name":"JamesPang","avatar":"https://static.tigerbbs.com/7be8c64b1475bb8d5afdfd812323bd46","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873416785,"type":1,"supId":0,"prevId":0,"content":"please like and comment back","text":"please like and comment back","html":"please like and comment back"}],"langContent":"CN"},{"id":873418919,"gmtCreate":1636974875151,"gmtModify":1636974875398,"author":{"id":"3565687171198207","authorId":"3565687171198207","name":"Holla","avatar":"https://static.tigerbbs.com/c0b0e402ff8043410cc67ffccbfe2174","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/873418919","repostId":1140283602,"repostType":4,"repost":{"id":"1140283602","pubTimestamp":1636974694,"share":"https://www.laohu8.com/m/news/1140283602?lang=&edition=full","pubTime":"2021-11-15 19:11","market":"us","language":"en","title":"SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company","url":"https://stock-news.laohu8.com/highlight/detail?id=1140283602","media":"Wall Street Journal","summary":"Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a","content":"<p>Skincare startup Obagi and makeup brand Milk Makeup are merging with&nbsp;Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former&nbsp;L’Oréal&nbsp;executives in a deal that values the combined business at roughly $1.2 billion.</p>\n<p>Milk Makeup is a vegan makeup brand that is sold at Sephora, among other retailers. Obagi’s products are aimed at minimizing the appearance of sun damage, aging and acne, and are primarily available through dermatologists and other professionals.</p>\n<p>Waldencast’s co-founder Michel Brousset, who previously served as group president of L’Oréal North America Consumer Products, will lead the new operating company, to be named Waldencast, as chief executive. The SPAC’s other co-founder, Hind Sebti, who has worked at L’Oréal and&nbsp;Procter &amp; GambleCo., will take on the role of chief operating officer.</p>\n<p>“We are trying to build a next-generation company that values sustainability, responsibility and inclusivity,” said Mr. Brousset, who added that he and Ms. Sebti plan to acquire smaller “purpose-driven” beauty and wellness brands and then help them grow.</p>\n<p>Mr. Brousset said he and Ms. Sebti envisioned such a wellness company several years ago and founded Waldencast to invest in upstart beauty brands. Using a SPAC wasn’t part of the original plan.</p>\n<p>“Three years ago I didn’t even know what a SPAC was,” he said. They launched a SPAC earlier this year, though, because he said it allows them to rapidly fundraise and have a public currency to buy brands they like.</p>\n<p>SPACs are shell companies&nbsp;that raise money and list shares on a stock exchange with the aim of merging with a private company—or, in this case, companies. After striking a deal, the private startups release detailed financial information, and regulators review the merger. Investors also vote on whether to approve a proposed acquisition. Once the deal closes, the private company starts trading on the stock market, replacing the SPAC.</p>\n<p>Waldencast went public in March and currently has a market value of over $400 million.</p>\n<p>SPACs&nbsp;are having a record year&nbsp;in 2021, eclipsing the prior record in 2020. Startups often like merging with so-called blank-check companies in part because they can lock in a value—and amount of cash raised—unlike in a typical IPO. When they go public via a SPAC merger, startups also are allowed to make business projections that aren’t allowed in traditional IPOs.</p>\n<p>The finances of the Waldencast deal differ in some respects from those of traditional SPAC mergers.</p>\n<p>Waldencast’s transaction to buy Milk Makeup and Obagi will be funded by $345 million in cash from the SPAC’s IPO, so long as investors don’t redeem their SPAC shares. There is additional money coming in the form of two forward-purchase agreements, $160 million of which is the sponsor’s capital as well as a private investment in public equity, or PIPE. An additional $475 million in Waldencast’s postdeal valuation comes from equity from the two merging startups.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPAC Led by Former L’Oreal Executives to Form $1.2 Billion Beauty Company\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 19:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2><strong>Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values ...</p>\n\n<a href=\"https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WALD":"Waldencast Acquisition Corp"},"source_url":"https://www.wsj.com/articles/spac-led-by-former-loreal-executives-to-form-1-2-billion-beauty-company-11636974001?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140283602","content_text":"Skincare startup Obagi and makeup brand Milk Makeup are merging with Waldencast Acquisition Corp., a special-purpose acquisition company founded by two former L’Oréal executives in a deal that values the combined business at roughly $1.2 billion.\nMilk Makeup is a vegan makeup brand that is sold at Sephora, among other retailers. Obagi’s products are aimed at minimizing the appearance of sun damage, aging and acne, and are primarily available through dermatologists and other professionals.\nWaldencast’s co-founder Michel Brousset, who previously served as group president of L’Oréal North America Consumer Products, will lead the new operating company, to be named Waldencast, as chief executive. The SPAC’s other co-founder, Hind Sebti, who has worked at L’Oréal and Procter & GambleCo., will take on the role of chief operating officer.\n“We are trying to build a next-generation company that values sustainability, responsibility and inclusivity,” said Mr. Brousset, who added that he and Ms. Sebti plan to acquire smaller “purpose-driven” beauty and wellness brands and then help them grow.\nMr. Brousset said he and Ms. Sebti envisioned such a wellness company several years ago and founded Waldencast to invest in upstart beauty brands. Using a SPAC wasn’t part of the original plan.\n“Three years ago I didn’t even know what a SPAC was,” he said. They launched a SPAC earlier this year, though, because he said it allows them to rapidly fundraise and have a public currency to buy brands they like.\nSPACs are shell companies that raise money and list shares on a stock exchange with the aim of merging with a private company—or, in this case, companies. After striking a deal, the private startups release detailed financial information, and regulators review the merger. Investors also vote on whether to approve a proposed acquisition. Once the deal closes, the private company starts trading on the stock market, replacing the SPAC.\nWaldencast went public in March and currently has a market value of over $400 million.\nSPACs are having a record year in 2021, eclipsing the prior record in 2020. Startups often like merging with so-called blank-check companies in part because they can lock in a value—and amount of cash raised—unlike in a typical IPO. When they go public via a SPAC merger, startups also are allowed to make business projections that aren’t allowed in traditional IPOs.\nThe finances of the Waldencast deal differ in some respects from those of traditional SPAC mergers.\nWaldencast’s transaction to buy Milk Makeup and Obagi will be funded by $345 million in cash from the SPAC’s IPO, so long as investors don’t redeem their SPAC shares. There is additional money coming in the form of two forward-purchase agreements, $160 million of which is the sponsor’s capital as well as a private investment in public equity, or PIPE. An additional $475 million in Waldencast’s postdeal valuation comes from equity from the two merging startups.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6586232,"gmtCreate":1636977747058,"gmtModify":1636977747098,"authorId":3582705285814354,"author":{"id":3582705285814354,"authorId":3582705285814354,"name":"Ella12345","avatar":"https://static.tigerbbs.com/6fb85787771e7c52590530c8fdf627c6","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873418919,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":6585900,"gmtCreate":1636975308812,"gmtModify":1636975308843,"authorId":3585638569097542,"author":{"id":3585638569097542,"authorId":3585638569097542,"name":"Ajy","avatar":"https://static.tigerbbs.com/a8730e06ea692e98c3adc0473008f15d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":873418919,"type":1,"supId":0,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"}],"langContent":"CN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":26,"commentSize":7,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}