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Beauty SPAC Waldencast sells Obagi, Milk Makeup sales plunge 57%

By PulseAugur Editorial · [1 sources] ·

A planned $1.2 billion beauty empire has significantly downsized, with Waldencast Acquisition Corp. selling off Obagi Medical and focusing solely on the struggling Milk Makeup brand. Milk Makeup has experienced a dramatic sales decline of 57.1% in the first half of 2026, resulting in a substantial adjusted EBITDA loss. In response to these financial challenges, Waldencast is delisting from Nasdaq and plans to trade on an over-the-counter market to reduce operational costs. AI

RANK_REASON Company is delisting from a major exchange and focusing on a single struggling brand, indicating a significant business downturn rather than a core AI development.

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AI-generated summary · Google Gemini · from 1 sources. How we write summaries →

Beauty SPAC Waldencast sells Obagi, Milk Makeup sales plunge 57%

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Company is delisting from a major exchange and focusing on a single struggling brand, indicating a significant business downturn rather than a core AI development.
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COVERAGE [1]

  1. Fortune TIER_1 English(EN) · Bilin Lin ·

    Former L’Oréal execs set out to build a $1.2 billion beauty empire. Now all that’s left is Milk Makeup, and its sales just fell 57%

    Waldencast sold Obagi, lost its founders to the buyer, and is leaving Nasdaq. What's left is a makeup brand whose sales fell by more than half.

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