Waldencast Plans Delisting From Nasdaq, Will Trade OTC as 'MLKM'
Waldencast (NASDAQ: WALD) announced it will voluntarily delist its Class A shares and warrants from the Nasdaq following the divestiture of Obagi Medical. The company expects October 2 to be the last trading day on Nasdaq, after which it plans to trade over-the-counter under the ticker 'MLKM'. This move is part of a broader restructuring strategy as Waldencast shifts focus post-divestiture. The delisting comes amid ongoing strategic changes for Waldencast. The company has been repositioning itself following the sale of Obagi Medical, and this transition reflects its new direction in capital structure and market presence. Trading on Nasdaq will cease after October 2 as it moves to a less regulated OTC platform. The decision may impact investor access due to reduced liquidity typically associated with over-the-counter trading compared to major exchanges like Nasdaq.
