Waldencast defaults on credit facility by not filing statements

Chicago, June 6 – Waldencast Finco Ltd., an indirect subsidiary of the Waldencast plc, technically defaulted on its June 24, 2022 credit agreement with JPMorgan Chase Bank, NA as administrative agent by not timely filing its audited financial statements, according to a 6-K filing with the Securities and Exchange Commission.

The company entered into a waiver and consent agreement, and the company now has until the end of June to file the financial information or risk a default under the credit agreement.

There can be no assurance that the administrative agent or the lenders will continue to grant the borrower waivers from any continuing or future defaults or events of default should the statements not be filed in time.

As of April 30, there were $168,742,187 of term loans outstanding on the facility and $49,116,599 in revolving loans.

White Plains, N.Y.-based Waldencast is a special purpose acquisition company and investment fund that incubates and accelerates early-stage beauty and wellness brands.

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