Amendment to Credit Agreement and FDA Approval of Obagi® saypha® ChIQ™

Waldencast plc has announced two key updates. Firstly, through its subsidiaries Milk Makeup LLC and Obagi Cosmeceuticals LLC, the company has entered into a Second Amendment to its Credit Agreement. This amendment, dated June 11, 2026, postpones the requirement for the company to issue warrants to lenders. The deadline for issuing these warrants has been moved from July 1, 2026, to November 17, 2026. This change is related to a potential Liquidity Event outlined in a Purchase Agreement. Secondly, on June 15, 2026, Waldencast announced that the U.S. Food and Drug Administration (FDA) has approved Obagi® saypha® ChIQ™, an injectable hyaluronic acid gel for the Obagi Medical brand. This approval, which builds on the earlier launch of Obagi® saypha® MagIQ™, expands Obagi Medical’s injectable portfolio and strengthens its position in the medical aesthetics market. The product is developed by Croma-Pharma GmbH and utilizes proprietary MACRO Core Technology. It is indicated for cheek augmentation and correction of midface contour deficiencies. The company views this as a significant step towards establishing Obagi as a leading dermatological megabrand.