HydraFacial-?: A Play On Booming Demand For Enhanced Skincare...
Apr. 22, 2021 5:15 AM ET Vesper Healthcare Acquisition Corp. (VSPR)<--SPAC
I see you Van!
Long Beach, California-basedHydraFacial(NASDAQ:VSPR) describes itself as an "experiential category-creating" beauty health company whose flagship treatment it takes its name after. The HydraFacial skincare treatment is a patented three-part regimen of cleansing, exfoliating, and then infusion of the skin with a number of serums. This process uses a medical-grade hydramabrasion device that more gently vacuums out pores while pushing in actives that enhance the skin by moisturizing, brightening, and protecting it.
Google Trends "Skincare" Interest Over Time (Source)
The company's transaction to go public through a merger with Vesper Healthcare Acquisition Corp. comes on the back of the material setback to its operations as the pandemic forced medical offices and spas, the primary distributors of its treatments, to shut down. The merger transaction will see HydraFacial raise at least $810 million, including a $350 million PIPE. Post-transaction close, $100 million in cash and no debt will remain on the company's balance sheet. The merger is set to go to vote on the 29th of April with trading commencing on the first week of May.
This is a highly recurring revenue business model
The company was materially affected by the pandemic with revenues for the 2020 fiscal year expected to be down by at least 31% over 2019. March 2020 alone saw revenue decline by 92%.
HydraFacial December 2020 Investor Presentation (Source)
Apr. 22, 2021 5:15 AM ET Vesper Healthcare Acquisition Corp. (VSPR)<--SPAC
- HydraFacial is going public via a special purpose acquisition company at an enterprise value of $1.1 billion.
- Growing demand for its facial skincare treatment has helped the company realize strong revenue growth over the last three years.
- The pandemic was a material setback as shuttered medical offices and spas led to a collapse in revenue.
- The reopening of the economy and growing demand for enhanced skincare should help the company return to growth.
I see you Van!
Long Beach, California-basedHydraFacial(NASDAQ:VSPR) describes itself as an "experiential category-creating" beauty health company whose flagship treatment it takes its name after. The HydraFacial skincare treatment is a patented three-part regimen of cleansing, exfoliating, and then infusion of the skin with a number of serums. This process uses a medical-grade hydramabrasion device that more gently vacuums out pores while pushing in actives that enhance the skin by moisturizing, brightening, and protecting it.
Google Trends "Skincare" Interest Over Time (Source)The company's transaction to go public through a merger with Vesper Healthcare Acquisition Corp. comes on the back of the material setback to its operations as the pandemic forced medical offices and spas, the primary distributors of its treatments, to shut down. The merger transaction will see HydraFacial raise at least $810 million, including a $350 million PIPE. Post-transaction close, $100 million in cash and no debt will remain on the company's balance sheet. The merger is set to go to vote on the 29th of April with trading commencing on the first week of May.
This is a highly recurring revenue business model
The company was materially affected by the pandemic with revenues for the 2020 fiscal year expected to be down by at least 31% over 2019. March 2020 alone saw revenue decline by 92%.
HydraFacial December 2020 Investor Presentation (Source)
