First Quarter 2021 Preliminary Financial Highlights:
- Q1 net sales of $47 million compared to $33 million in Q1 2020
and $35 million in Q1 2019
- Q1 net sales in the Americas region of $31 million, or 66% of
total net sales, compared to $24 million in Q1 2020 and $27 million
in Q1 2019
- Q1 net sales in the EMEA and APAC regions of $16 million, or
34% of total sales, compared to $9 million in Q1 2020 and $8
million in Q1 2019
The HydraFacial® Company (“HydraFacial,” or the “Company”), an
experiential category-creating beauty health company, today
announced preliminary net sales for the quarter ended March 31,
2021. The Company has not yet completed the quarter-end review and
expects to report full results for the first quarter of 2021 at a
future date. The previously announced business combination with
Vesper Healthcare Acquisition Corp. (“Vesper Healthcare”) (NASDAQ:
VSPR) is expected to be completed in the first half of 2021. Upon
completion of the transaction, Vesper Healthcare expects to rebrand
as The Beauty Health Company, and list on the Nasdaq Capital Market
under the ticker symbol “SKIN”.
Clint Carnell, HydraFacial’s CEO, stated: “We delivered record
first quarter sales illustrating the appeal of our brand and
continued strong demand during the Zoom boom era, even with many of
our global markets closed for portions of the first quarter due to
COVID-19 restrictions. Our growth reflects the strength of our
brand, the diversification of our channel mix, the significant
growth across all regions especially in the Asia-Pacific region,
the recurring revenue streams in consumables, as well as the
favorable demographic trends in the category of beauty health.
During the quarter, we continued to build upon our retail
partnerships, including expanding our relationship with Sephora and
a new partnership with Clinique. Our pending merger with Vesper
Healthcare is expected to provide us with the resources and capital
to continue to grow our footprint in the rapidly expanding beauty
health category, both domestically and internationally.”
Brent Saunders, CEO and Co-Founder of Vesper Healthcare,
commented: “I am pleased with the continued strength of the
business in the first quarter despite the challenges presented by
the COVID-19 pandemic. The impressive performance this quarter
further reinforces our confidence in the long-term opportunities
for HydraFacial, in addition to serving as the ideal platform for
building a premier beauty health company.”
On December 8th, 2020, HydraFacial and Vesper Healthcare, a
special purpose acquisition company co-founded by Brent Saunders,
former CEO and Chairman of Allergan plc, Forest Laboratories Inc.,
and Bausch + Lomb Incorporated, announced that they had entered
into a definitive merger agreement pursuant to which HydraFacial
will become a wholly owned subsidiary of Vesper Healthcare.
HydraFacial is owned by Linden Capital Partners and DW Healthcare
Partners, both of which are private equity firms focused
exclusively on the healthcare industry.
Cautionary Statement Regarding Preliminary Results The
Company’s results for the fiscal quarter ended March 31, 2021 are
preliminary, unaudited and subject to the finalization and closing
of the Company’s first quarter review and should not be viewed as a
substitute for full quarter financial statements prepared in
accordance with U.S. GAAP. In addition, these preliminary results
are not a comprehensive statement of the Company’s financial
results for the quarter ended March 31, 2021. The Company cautions
you that these preliminary results are not guarantees of future
performance or outcomes, and that actual results may differ
materially from these described above.
About The HydraFacial
Company The HydraFacial Company is an experiential,
non-invasive, and approachable beauty health platform and ecosystem
with a powerful community of estheticians, consumers and partners,
bridging medical and consumer retail to democratize and personalize
skin care solutions for the masses. Leading the charge in beauty
health as a category-creator, HydraFacial uses a unique delivery
system to cleanse, extract, and hydrate with their patented
hydradermabrasion technology and super serums that are made with
nourishing ingredients, providing an immediate outcome and creating
an instantly gratifying glow in just three steps and 30 minutes.
HydraFacial® and Perk™ products are available in over 87 countries
with over 16,000 delivery systems globally and millions of
treatments performed each year. For more information, visit the
brand on LinkedIn, Facebook, Instagram, or at HydraFacial.com.
About Vesper Healthcare Acquisition
Corp. Vesper Healthcare Acquisition Corp. is a special
purpose acquisition company formed for the purpose of effecting a
merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more
businesses, with a focus on the pharmaceutical and healthcare
sectors. Vesper Healthcare is led by Chief Executive Officer, Brent
Saunders, and Chief Financial Officer, Manisha Narasimhan, PhD. For
more information, visit www.vesperhealth.com.
Forward-Looking Statements This communication may contain
“forward-looking statements” within the meaning of the “safe
harbor” provisions of the Private Securities Litigation Reform Act
of 1995. The expectations, estimates and projections of the
businesses of Vesper Healthcare or the Company may differ from
their actual results and consequently, you should not rely on these
forward-looking statements as predictions of future events. Words
such as “expect,” “estimate,” “project,” “budget,” “forecast,”
“anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,”
“believes,” “predicts,” “potential,” “continue,” and similar
expressions are intended to identify such forward-looking
statements. These forward-looking statements include, without
limitation, expectations with respect to future performance of
Vesper Healthcare or HydraFacial and anticipated financial impacts
of the proposed transaction, the satisfaction of the closing
conditions to the proposed transaction and the timing of the
completion of the proposed transaction.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve significant risks
and uncertainties, that could cause the actual results to differ
materially from the expected results. Most of these factors are
outside of the control of Vesper Healthcare and the Company and are
difficult to predict.
Factors that may cause such differences include, but are not
limited to: (1) the occurrence of any event, change or other
circumstances that could give rise to the termination of the Merger
Agreement and the proposed transactions contemplated therein; (2)
the outcome of any legal proceedings that may be instituted against
the parties following the announcement of the Merger Agreement and
the transactions contemplated therein; (3) the inability to
complete the transactions contemplated by the Merger Agreement,
including due to the failure to obtain approval of the stockholders
of Vesper Healthcare or other conditions to closing in the Merger
Agreement; (4) the occurrence of any event, change or other
circumstance that could give rise to the termination of the Merger
Agreement or could otherwise cause the transaction to fail to
close; (5) the receipt of an unsolicited offer from another party
for an alternative business transaction that could interfere with
the proposed transaction; (6) the inability to obtain or maintain
the listing of the post-acquisition company’s common shares on
Nasdaq following the proposed transaction; (7) the risk that the
proposed transaction disrupts current plans and operations of the
Company as a result of the announcement and consummation of the
proposed transaction; (8) the ability to recognize the anticipated
benefits of the proposed transaction, which may be affected by,
among other things, competition, the ability of the combined
company to grow and manage growth profitably, maintain
relationships with customers and suppliers and retain its
management and key employees; (9) costs related to the proposed
transaction; (10) changes in applicable laws or regulations; (11)
the possibility that the Company may be adversely affected by other
economic, business, and/or competitive factors; (12) the impact of
the continuing COVID-19 pandemic on the Company’s business (13)
risks related to the matters set forth in the Staff Statement on
Accounting and Reporting Considerations for Warrants Issued by
Special Purpose Acquisition Companies, issued by the Staff of the
SEC on April 12, 2021; and (14) other risks and uncertainties
indicated from time to time in the definitive proxy statement of
Vesper Healthcare, including those under “Risk Factors” therein,
and other documents filed or to be filed with the Securities and
Exchange Commission (“SEC”) by Vesper Healthcare.
Vesper Healthcare cautions that the foregoing list of factors is
not exclusive. You should not place undue reliance upon any
forward-looking statements, which speak only as of the date made.
Vesper Healthcare and the Company do not undertake or accept any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements to reflect any change
in their expectations or any change in events, conditions or
circumstances on which any such statement is based.
Important Information about the Transaction and Where to Find
It In connection with the proposed transaction, Vesper
Healthcare has filed the definitive proxy statement with the SEC on
April 7, 2021. Vesper Healthcare’s stockholders and other
interested persons are advised to read the definitive proxy
statement and documents incorporated by reference therein filed in
connection with the proposed transaction, as these materials will
contain important information about Vesper Healthcare, the Company
and the proposed transaction. The definitive proxy statement has
been mailed to the stockholders of the Company as of April 14,
2021, the record date established for voting on the proposed
transaction. Stockholders are also be able to obtain copies of the
definitive proxy statement and other documents filed with the SEC
incorporated by reference therein, without charge at the SEC’s
website at http://www.sec.gov, or by directing a request to: Vesper
Healthcare Acquisition Corp., 1819 West Avenue, Bay 2, Miami Beach,
FL 33139.
Participants in the Solicitation Vesper Healthcare and
its directors and executive officers may be deemed participants in
the solicitation of proxies of Vesper Healthcare stockholders with
respect to the proposed transaction. A list of those directors and
executive officers and a description of their interests in Vesper
Healthcare are filed in the definitive proxy statement for the
proposed business combination and available at www.sec.gov.
Additional information regarding the interests of such participants
are contained in the definitive proxy statement for the proposed
business combination.
HydraFacial and its directors and executive officers may also be
deemed to be participants in the solicitation of proxies from the
shareholders of Vesper Healthcare in connection with the business
combination. A list of the names of such directors and executive
officers and information regarding their interests in the proposed
business combination are included in the definitive proxy statement
for the proposed business combination.
No Offer or Solicitation This communication shall not
constitute a solicitation of a proxy, consent or authorization with
respect to any securities or in respect of the proposed
transaction. This communication shall not constitute an offer to
sell or the solicitation of an offer to buy any securities, nor
shall there be any sale of securities in any states or
jurisdictions in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction. No offering of
securities shall be made except by means of a prospectus meeting
the requirements of section 10 of the Securities Act of 1933, as
amended.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210421005407/en/
For HydraFacial: ICR, Inc. Investors: Dawn Francfort
Email: dawn.francfort@icrinc.com Press: Alecia Pulman Email:
alecia.pulman@icrinc.com
For Vesper Healthcare: Manisha Narasimhan, PhD CFO,
Vesper Healthcare Acquisition Corp.
Manisha.narasimhan@vesperhealth.com
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