The multi-brand beauty and personal care company formed by beauty investment from Waldencast Ventures and former Anheuser-Busch executive Felipe Dutra has gone public with a $300 million IPO, which includes an additional investment of up to $333 million in forward purchase agreements.

Waldencast Acquisition Corporation is the latest SPAC in the beauty and personal care space — health company Hims also chose this route to go public in October 2020. It’s a positive sign for the future of beauty and personal care mergers and acquisitions as they have withstood economic effects of the pandemic.

Waldencast Ventures founder Michel Brousset will serve as CEO of Waldencast Acquisition Corporation while Dutra will be in the executive chairman role. Hind Sebti will be the company’s chief operations officer.

Within Waldencast Acquisition Corporation’s S-1 IPO registration the company said their mission statement is “to build a global best-in-class beauty and wellness operating platform that will rival current incumbents… [and they] intend to seek brands with a direct connection to today’s evolving consumers.”