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FDA approves Obagi saypha ChIQ filler from Waldencast (NASDAQ: WALD)

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Waldencast plc reports two key developments. Its subsidiaries Milk Makeup and Obagi Cosmeceuticals agreed a Second Amendment to their Credit Agreement, postponing the deadline for Waldencast to issue lender warrants from on or prior to July 1, 2026 to on or prior to November 17, 2026. The warrants are tied to Term Tranche B Loans at a rate of up to 1,000 ordinary shares per $1,000 principal amount outstanding.

The company also highlights that the FDA has approved Obagi saypha ChIQ injectable hyaluronic acid gel for cheek augmentation and correction of midface contour deficiencies in adults over 21. This product expands Obagi Medical’s injectable portfolio in the U.S. dermal filler market and supports its strategy to position Obagi as a leading dermatological brand.

Positive

  • FDA approval of Obagi saypha ChIQ injectable hyaluronic acid gel adds a new, regulated product to Obagi Medical’s U.S. dermal filler portfolio and supports its strategy to build a leading dermatological megabrand in advanced skincare and medical aesthetics.

Negative

  • None.

Insights

FDA approval boosts Obagi’s aesthetics portfolio while warrant issuance is delayed.

The FDA approval of Obagi saypha ChIQ injectable hyaluronic acid gel gives Waldencast’s Obagi Medical brand another regulated product in the fast-growing U.S. dermal filler category. It targets cheek augmentation and midface contour deficiencies, reinforcing Obagi’s move deeper into medical aesthetics.

The filing notes strong early engagement with the related Obagi saypha MagIQ filler, including 94% of injectors saying it complements existing options and 42.6% of using practices having evaluated Obagi skincare. This suggests cross-selling potential between fillers and professional skincare lines.

On the financing side, the Second Amendment to the Credit Agreement shifts the deadline for issuing warrants linked to Term Tranche B Loans to on or prior to November 17, 2026. This changes the timing of potential equity issuance tied to the debt but keeps the existing warrant structure intact.

Warrant share coverage 1,000 shares per $1,000 principal Warrants tied to Term Tranche B Loans under Credit Agreement
Product indication age Over 21 years Obagi saypha ChIQ indicated for adult cheek and midface use
Injector satisfaction with MagIQ 94% of injectors Believe Obagi saypha MagIQ complements existing filler options
Typical filler visit skincare attach rate 1 in 10 visits Industry data on filler visits including professional skincare purchase
Practices evaluating Obagi skincare 42.6% of practices Practices using Obagi saypha MagIQ that evaluated Obagi skincare
Croma-Pharma syringe production Over 130 million syringes Total saypha syringes produced globally by 2026
Obagi Medical experience 35+ years Legacy in advanced, research-based skincare
Croma-Pharma employees Around 400 employees Headcount across global operations
Credit Agreement financial
"entered into the Credit Agreement (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”)"
A credit agreement is a written loan contract between a borrower and a bank or other lender that lays out how much money can be borrowed, the interest rate, repayment schedule, fees, and the rules the borrower must follow. For investors, it matters because those terms affect a company’s cash costs, borrowing flexibility and risk of default — similar to how a mortgage’s rules determine a homeowner’s monthly budget and freedom to make changes.
Term Tranche B Loans financial
"Lenders that hold Term Tranche B Loans (as defined in the Credit Agreement)"
injectable hyaluronic acid gel medical
"FDA Approval of Obagi® saypha® ChIQ™ Injectable Hyaluronic Acid Gel"
forward-looking statements regulatory
"This press release contains certain forward-looking statements within the meaning of the federal securities laws"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
dermal filler medical
"fast-growing U.S. dermal filler category"
A dermal filler is a gel-like substance injected under the skin to restore volume, smooth wrinkles, or reshape facial features. Think of it as a temporary cushion or plug that fills in hollows or lines much like stuffing fills a sagging cushion. Investors care because demand, safety profile, regulatory approvals, and product longevity directly affect sales, pricing power, and potential legal or reputational risks for companies in the cosmetic and medical device markets.
MACRO Core Technology technical
"utilizes proprietary MACRO Core Technology that creates a stable 3D HA matrix"
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 or 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the Month of: June 2026
Commission File Number: 001-40207

Waldencast plc
(Translation of Registrant’s name into English)

81 Fulham Road
London, SW3 6RD
United Kingdom
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

☒ Form 20-F ☐ Form 40-F






Amendment to Credit Agreement
As previously disclosed, on November 14, 2025, Milk Makeup LLC, a Delaware limited liability company (“Milk Makeup”) and Obagi Cosmeceuticals LLC, a Delaware limited liability company (“Obagi Cosmeceuticals”, and together with Milk Makeup, the “Borrowers”), which are wholly owned subsidiaries of Waldencast plc, a public limited company incorporated in Jersey (the “Company”), entered into the Credit Agreement (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among the Borrowers, the Company, LSSF II Offshore Investments, LP, an Ontario limited partnership acting by its general partner, Lumina Fund II GP Ltd. (in such capacity, the “Administrative Agent”) and the lenders party thereto (the “Lenders”). The Credit Agreement requires the Company to issue warrants to the Lenders that hold Term Tranche B Loans (as defined in the Credit Agreement) to purchase up to 1,000 ordinary shares of the Company per $1,000 principal amount of Term Tranche B Loans then outstanding (the “Warrants”). On June 11, 2026, the Borrowers have entered into the Second Amendment to Credit Agreement and Acknowledgement (the “Second Amendment”) with the Administrative Agent and the Lenders to, among other things, postpone the requirement for the Company to issue the Warrants from (x) on or prior to July 1, 2026 to (b) on or prior to November 17, 2026.
The foregoing description of the Second Amendment and the transactions contemplated thereby is not complete and is subject to, and qualified in its entirety by, the full text of the Second Amendment, a copy of which is filed as Exhibit 10.1 hereto and is expressly incorporated by reference herein.
Approval of saypha® ChIQ™
On June 15, 2026, the Company issued an announcement titled “Obagi Medical Announces FDA Approval of Obagi® saypha® ChIQ™ Injectable Hyaluronic Acid Gel”, a copy of which is attached as Exhibit 99.2 to this Form 6-K.
The information in this report on Form 6-K (including Exhibits 10.1 and 99.2 hereto) (“Report”) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the planned launch of Saypha® ChIQ™ and the growth strategies of Obagi Medical. These forward-looking statements generally are identified by the words “estimates,” “projects,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “would,” “should,” “future,” “propose,” “target,” “goal,” “objective,” “outlook” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of Waldencast and Obagi Medical that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, but are not limited to: (i) the success of any commercial launches, (ii) the general impact of geopolitical events, including the impact of current wars, conflicts and other hostilities, (iii) the overall economic and market conditions, sales forecasts and other information about Waldencast’s possible or assumed future results of operations or our performance, (iv) changes in general economic conditions, (v) the impact of any international trade or foreign exchange restrictions, the imposition of new or increased tariffs, foreign currency exchange fluctuations, (vi) that the price of Waldencast’s securities may be volatile due to a variety of factors, including Waldencast’s or Obagi Medical’s inability to implement their business plans, and (vii) the ability to continue to innovate Obagi Medical’s existing products and anticipate and respond to market trends and changes in consumer preferences. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Waldencast’s Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on March 13, 2026, or in other documents that may be filed or furnished by Waldencast from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-
2


looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Waldencast assumes no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Contacts

Investors
ICR
investors@waldencast.com

Media
ICR
waldencast@icrinc.com




EXHIBIT INDEX

EXHIBIT NO.DESCRIPTION
10.1
Second Amendment to Credit Agreement and Acknowledgement, dated June 11, 2026, by and among Milk Makeup LLC, Obagi Cosmeceuticals LLC, Waldencast plc, LSSF II Offshore Investments, LP, acting by its general partner, Lumina Fund II GP Ltd and the lenders party thereto.
99.2
Waldencast plc press release, dated June 15, 2026


3



SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Waldencast plc
(Registrant)
Date: June 15, 2026
By:
/s/ Manuel Manfredi
Name:
Manuel Manfredi
Title:
Chief Financial Officer and Principal Financial Officer


4
Exhibit 99.2
Obagi Medical Announces FDA Approval of Obagi® saypha® ChIQ™ Injectable Hyaluronic Acid Gel
Approval Further Expands Obagi Medical’s Injectable Portfolio and Strengthens Its Position as a Leading Dermatological Megabrand
LONDON, June 15, 2026 (GLOBE NEWSWIRE) — Waldencast plc (NASDAQ: WALD) (“Waldencast” or the “Company”), a global multi-brand beauty and wellness platform, today announced that the U.S. Food and Drug Administration (“FDA”) has approved Obagi® saypha® ChIQ™ injectable hyaluronic acid (“HA”) gel, the latest addition to the Obagi® injectable portfolio under the Obagi Medical brand.

This approval builds on the launch of Obagi® saypha® MagIQ™ and accelerates Obagi Medical’s strategy to establish Obagi as a comprehensive leader at the intersection of advanced skincare and medical aesthetics. The introduction of Obagi® saypha® ChIQ™ further expands the brand’s addressable market in the fast-growing U.S. dermal filler category.

“Obagi® saypha® ChIQ™ is a meaningful addition to our integrated aesthetic portfolio – giving practitioners and patients more ways to achieve end-to-end skin transformation with predictable, measurable outcomes, and bringing us closer to our vision of building the world’s leading dermatological megabrand.” said Michel Brousset, Co-Founder and Chief Executive Officer of Waldencast.

Obagi® saypha® ChIQ™ developed by Croma-Pharma GmbH, utilizes proprietary MACRO Core Technology that creates a stable 3D HA matrix designed to provide natural-looking results with category leading capabilities including delivering high usable HA content* at injection, consistent particle distribution, and predictable injection force and swelling profilesi. It is indicated for use in cheek augmentation and correction of midface contour deficiencies in patients over the age of 21.

“We are thrilled to continue our successful partnership with Obagi Medical,” said Andreas Prinz, Chief Executive Officer of Croma-Pharma. “With over 130 million syringes produced globally, the saypha® line sets a high standard for safety, quality, and patient satisfaction. Obagi® saypha® ChIQ™ brings meaningful innovation to the U.S. market.”

Obagi recently shared that the launch of Obagi® saypha® MagIQ™ has received strong provider feedback from the results of the ALOHA (Aesthetic Leadership with Obagi Hyaluronic Acid) Program. Unveiled in January 2026, the ALOHA Program is designed to become the largest real-world evaluation of a newly launched hyaluronic acid (HA) filler to date. The interim data highlights that 94% of injectors believe Obagi® saypha® MagIQ™ complements their current filler options with current industry data showing only 1 in 10 filler visits includes a professional skincare purchaseii - yet 42.6% of practices using Obagi® saypha® MagIQ™ have already evaluated Obagi skincareiii, proving the combination drives attachment rates well above the industry norm.



Exhibit 99.2
Dr. Carolyn Jacob, MD commented: “The approval of Obagi® saypha® ChIQ™ builds on the real-world success of Obagi® saypha® MagIQ™ and showcases Obagi’s commitment to delivering clinically proven, high-performance integrated skincare plus injectable aesthetic solutions. This product strengthens our ability to address a wide range of patient needs with precision and confidence, while maintaining the highest standards of safety and efficacy.”

About Obagi Medical
Obagi Medical is an industry-leading, advanced skincare line rooted in research and skin biology, with a legacy of 35+ years of experience. Initially known for its leadership in the treatment of hyperpigmentation with the Obagi Nu-Derm® System, Obagi Medical products are designed to address a variety of skin concerns, including premature aging, photodamage, skin discoloration, acne, and sun damage. As the fastest-growing professional skincare brand in the U.S. in 2024iv, Obagi Medical empowers individuals to achieve healthy, beautiful skin. More information about Obagi Medical is available on the brand's website, https://www.obagi.com.

About Waldencast plc
Founded by Michel Brousset and Hind Sebti, Waldencast’s ambition is to build a global best-in-class beauty and wellness operating platform by developing, acquiring, accelerating, and scaling conscious, high-growth purpose-driven brands. Waldencast’s vision is fundamentally underpinned by its brand-led business model that ensures proximity to its customers, business agility, and market responsiveness, while maintaining each brand’s distinct DNA. The first step in realizing its vision was the Business Combination. As part of the Waldencast platform, its brands benefit from the operational scale of a multi-brand platform; the expertise in managing global beauty brands at scale; a balanced portfolio to mitigate category fluctuations; asset light efficiency; and the market responsiveness and speed of entrepreneurial indie brands. For more information please visit: https://ir.waldencast.com.

About Croma-Pharma GmbH 
CROMA-PHARMA is a global player and challenger in the dynamically growing minimally invasive aesthetics market, and one of Europe’s leading manufacturers of premium-quality hyaluronic acid (HA) syringes. Founded in 1976 by the pharmacist couple Gerhard and Karin Prinz, Croma-Pharma has evolved from a family pharmacy into a globally operating Austrian company headquartered near Vienna, where it also runs its state-of-the-art, fully automated HA manufacturing plant. The company employs around 400 people, making its products available in over 80 countries worldwide. Croma-Pharma offers a comprehensive and innovative aesthetics portfolio covering all key treatment categories in minimally invasive aesthetic medicine. Its range includes botulinum toxin, a broad selection of hyaluronic acid fillers, lifting threads (PDO threads), polynucleotide injectables, HA skin booster, skincare, as well as autologous PRP I Fluid-PRF medical device. With this full-face approach, Croma-Pharma provides aesthetic professionals and their patients with safe, effective, and reliable solutions from a single trusted source. In 2026, the company surpassed 130 million syringes produced, further strengthening its position as one of Europe’s leading HA manufacturers. Building on its heritage in orthopedics and ophthalmology, Croma-Pharma is re-entering the orthopedics market in 2026, marking a strategic expansion beyond aesthetics and reinforcing its roots in medical applications.



Exhibit 99.2
Media Contact: obagi@behrmancesa.com



i Puljic A, Frank K, Cohen J, Otto K, Mayr J, Hugh-Bloch A, Kuroki-Hasenöhrl, D. A Scientific Framework for Comparing Hyaluronic Acid Filler Crosslinking Technologies. Gels. 2025; 11(7):487
ii Qsight Aesthetics. Cross Purchasing Rate: Dermal Filler — Same Visit. Data updated through April 2026; analysis period January 2018–March 2025. All practice types, all regions.
iii Data on file. Obagi Medical. 2026.
iv Among the Top 10 Professional Skin Care Brands in the U.S., According to Kline’s 2024 Global Professional Skin Care Series (China, Europe and the U.S.).
v de la Guardia C, Virno A, Musumeci M, Bernardin A, Silberberg MB. Rheologic and Physicochemical Characteristics of Hyaluronic Acid Fillers: Overview and Relationship to Product Performance. Facial Plast Surg. 2022 Apr;38(2):116-123. doi: 10.1055/s-0041-1741560. Epub 2022 Feb 3. PMID: 35114708; PMCID: PMC9188840;

*HA content refers to Gel content, and indicates the amount of crosslinked HA in a product. A high amount of crosslinked HA is a foundation for effectiveness and durability.V

FAQ

What did Waldencast plc (WALD) announce about Obagi saypha ChIQ?

Waldencast announced FDA approval of Obagi saypha ChIQ injectable hyaluronic acid gel. The product is indicated for cheek augmentation and correction of midface contour deficiencies in adults over 21, expanding Obagi Medical’s injectable portfolio in the U.S. dermal filler market.

How does Obagi saypha ChIQ fit into Obagi Medical’s strategy for WALD?

Obagi saypha ChIQ is described as a meaningful addition to an integrated aesthetic portfolio. It supports Obagi Medical’s strategy to establish Obagi as a comprehensive leader at the intersection of advanced skincare and medical aesthetics by broadening treatment options for practitioners and patients.

What change was made to Waldencast’s Credit Agreement in this 6-K?

Subsidiaries Milk Makeup and Obagi Cosmeceuticals entered a Second Amendment to their Credit Agreement. It postpones Waldencast’s deadline to issue warrants to certain Term Tranche B lenders from on or prior to July 1, 2026 to on or prior to November 17, 2026.

How are the warrants under Waldencast’s Credit Agreement structured?

The Credit Agreement requires Waldencast to issue warrants to lenders holding Term Tranche B Loans. These warrants entitle holders to purchase up to 1,000 ordinary shares of Waldencast per $1,000 principal amount of Term Tranche B Loans outstanding, linking potential equity to the loan balance.

What early data does Waldencast share about Obagi saypha MagIQ performance?

Interim data from the ALOHA Program show 94% of injectors believe Obagi saypha MagIQ complements their current filler options. While only about 1 in 10 filler visits typically include skincare purchase, 42.6% of MagIQ-using practices have already evaluated Obagi skincare offerings.

How is Obagi Medical positioned in the U.S. professional skincare market?

Obagi Medical is described as the fastest-growing professional skincare brand in the U.S. in 2024 among the top 10 brands. Its portfolio addresses hyperpigmentation, aging, photodamage, discoloration, acne and sun damage, with more than 35 years of experience in advanced skincare.

Filing Exhibits & Attachments

2 documents

Agreements & Contracts