Waldencast to Voluntarily Delist from Nasdaq and Deregister — Last Trading Day Expected October 2
WALD sits 85% above its 52-week low of $0.72 on light trading volume (0.1× avg).
Summary
Waldencast announced voluntary delisting from Nasdaq and SEC deregistration, with the last trading day expected October 2, 2026. The Board also recommends renaming the company Milk Makeup plc and seeking OTC quotation under ticker MLKM.
Key Events · Corporate Governance and Compliance · WALD
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Voluntary Nasdaq Delisting Announced
Board approved delisting of Class A Ordinary Shares and Warrants from Nasdaq; Form 25 expected on or about September 24, 2026, with last trading day expected October 2, 2026.
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SEC Deregistration Planned
Company intends to file Form 15 on or about October 5, 2026, suspending reporting obligations under Sections 12(g) and 15(d) immediately upon filing.
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Cost Savings Rationale
Board cites $18.5 million in 2025 central headquarters costs, expecting a substantial portion to be eliminated after delisting and deregistration.
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Rebranding to Milk Makeup plc
Board recommends renaming the company Milk Makeup plc, subject to shareholder approval at an Extraordinary General Meeting; OTC quotation sought under ticker MLKM.
Analysis · WALD · Industrial Applications And Services
Waldencast is voluntarily delisting its Class A Ordinary Shares and Warrants from Nasdaq and deregistering under the Exchange Act. The Board cites disproportionate public-company costs after the Obagi Medical divestiture, limited trading volume, and a concentrated share register. Shareholders face a sharp reduction in liquidity and public information, with no guarantee of OTC trading. The company expects to eliminate a substantial portion of its $18.5 million in central headquarters costs, but minority holders lose the protections and transparency of a Nasdaq listing.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 41.1% of the 372 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.38%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, WALD was trading at $1.33 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $171.3M. The 52-week trading range was $0.72 to $3.22. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.