Latham & Watkins Represents The Beauty Health Company in Convertible Debt Refinancing

The Beauty Health Company (NASDAQ:SKIN), home to flagship brand Hydrafacial™, has announced that it entered into privately negotiated exchange agreements with certain holders of the company’s outstanding 1.25% convertible senior notes due 2026. Under the terms of the Exchange Agreements, the company will exchange approximately US$413.2 million of aggregate principal amount of the existing notes for US$250 million of new 7.95% convertible senior secured notes due 2028, along with an aggregate of approximately US$143.4 million in cash, including accrued and unpaid interest. The company expects to close the Exchange on or around May 27, 2025.

Latham & Watkins LLP represents The Beauty Health Company in the refinancing with a Capital Markets team led by partners Brent Epstein, Greg Rodgers, and Andrew Blumenthal, with associates Robyn Sablove, Andrew Bentz, and Jessmine Lee; and a Private Equity Finance team led by partner Seniz Yakut, with associates Elizabeth Bell and Michael Hengerer. Advice was also provided on liability management matters by partner John Sobolewski; on tax matters by partner Bora Bozkurt; and on intellectual property matters by counsel David Kuiper.