Nixon Peabody represents leading skin care brand in $1.2 billion SPAC transaction

November 16, 2021

Director of Media Relations
Nicholas Braude

New York, NY. Global law firm Nixon Peabody represented the owners of skin care brand Obagi on its recent transaction with Waldencast Acquisition Corp. (NASDAQ: WALD), a special-purpose acquisition company (SPAC). Waldencast announced on November 15, 2021, that it had entered into definitive simultaneous business combination agreements with Obagi and makeup and skin care brand Milk Makeup for approximately $1.2 billion. Nixon Peabody also advised on the spinoff of Obagi’s operations in China.

Nixon Peabody’s core team that advised Obagi included David Cheng, chair and managing partner of the firm’s China and Asia-Pacific practice; partners Michael A. Smith (SPAC), Richard F. Langan, Jr. (Capital Markets), David R. Brown (Securities) and Jeremy J. Wolk (Licensing); and senior counsel Kenneth H. Silverberg (Tax)—all of the firm’s Corporate practice.

The team also included partner Gordon L. Lang (Regulatory); associates Anthony V. Bova II and Brian Whittaker; Hong Kong-based associates Katrina Ho and William Tong; and Chinese legal consultant Kelly F. Xiang.

About Obagi

Obagi is an industry-leading, advanced skincare line formulated with scientifically proven ingredients, refined with a legacy of 30 years’ experience. First known as leaders in the treatment of hyperpigmentation with the Obagi Nu-Derm® System, Obagi products are designed to restore skin’s natural radiance by visibly improving balance, tone, and texture, and diminishing the appearance of premature aging, photodamage, skin discoloration, acne, and sun damage. More information about Obagi is available on the brand’s website, Facebook, Twitter, and Instagram pages.

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