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Waldencast Filed to Delist Shares from Nasdaq

Beauty operator Waldencast plans to end SEC reporting, shifting the company away from public exchange requirements.

Updated on Sept. 24, 2026 in Public Companies

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Waldencast plc has filed a Form 25 with the SEC to delist its shares from the Nasdaq, initiating the process to terminate its periodic reporting obligations. AI Illustration. Upload story photo >

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Waldencast plc filed a Form 25 with the SEC to remove its Class A Ordinary Shares and Warrants from the Nasdaq listing. This move marks the start of the company's process to terminate its SEC reporting obligations through a planned Form 15 filing.

Why it matters

By delisting and deregistering, the company reduces the regulatory compliance burden and associated overhead costs required to maintain public-market status. For operators, this signals a shift in corporate strategy that moves the business away from the reporting transparency required of public entities.

The company's securities carry a par value of $0.0001 per Class A Ordinary Share and an exercise price of $11.50 per warrant. Deregistration under the Exchange Act will take 90 days to become effective following the filing.

The players

Waldencast plc

A beauty and wellness company that operates as the parent entity of Milk Studios.

Nasdaq

A global electronic marketplace for buying and selling securities.

SEC

The federal agency responsible for enforcing securities laws and regulating the exchange of financial assets.

The details

The filing of the Form 25 officially initiates the delisting process, which will effectively remove the equity from the exchange. Following the delisting, the company intends to file a Form 15 to formally terminate its reporting obligations with the SEC. This transition removes the requirement to file periodic disclosures, allowing the company to streamline its administrative operations.

Timeline

  1. September 24, 2026: The company filed Form 25 with the SEC.

  2. October 2, 2026: The last day of trading on Nasdaq is expected.

  3. October 4, 2026: Delisting is expected to become effective.

  4. October 5, 2026: The company intends to file a Form 15.

Market Landscape

This transition marks a formal departure from the ongoing disclosure obligations established by the Securities Exchange Act of 1934. It highlights a strategic pivot toward private governance models often used to reduce operational friction.

Operators should monitor these filings as they often precede changes in how a company discloses its financial health to stakeholders and creditors. Review your own firm's reporting obligations if you are considering shifts in your capital structure or exchange status.

The takeaway

Companies opting to go private often do so to eliminate the cost of compliance and the pressures of public scrutiny. If you are assessing a similar move, consult with legal and financial counsel to ensure you meet the specific regulatory thresholds for terminating Exchange Act filings.

Further reading

For more on the implications of changing ownership structures, see Public Companies.

Live Poll

Do you trust that companies provide enough protection for shareholders when they decide to delist?