<SEC-DOCUMENT>0001213900-22-045389.txt : 20220808
<SEC-HEADER>0001213900-22-045389.hdr.sgml : 20220808
<ACCEPTANCE-DATETIME>20220808160026
ACCESSION NUMBER:		0001213900-22-045389
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220808
DATE AS OF CHANGE:		20220808

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Waldencast plc
		CENTRAL INDEX KEY:			0001840199
		STANDARD INDUSTRIAL CLASSIFICATION:	PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-92389
		FILM NUMBER:		221144200

	BUSINESS ADDRESS:	
		STREET 1:		10 BANK STREET, SUITE 560
		CITY:			WHITE PLAINS
		STATE:			NY
		ZIP:			10606
		BUSINESS PHONE:		(917) 546-6828

	MAIL ADDRESS:	
		STREET 1:		10 BANK STREET, SUITE 560
		CITY:			WHITE PLAINS
		STATE:			NY
		ZIP:			10606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Waldencast Acquisition Corp.
		DATE OF NAME CHANGE:	20210112

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Burwell Mountain Trust
		CENTRAL INDEX KEY:			0001851119
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		SC 13D

	BUSINESS ADDRESS:	
		STREET 1:		10 BANK STREET, SUITE 560
		CITY:			WHITE PLAINS
		STATE:			NY
		ZIP:			10606
		BUSINESS PHONE:		(917) 546-6828

	MAIL ADDRESS:	
		STREET 1:		10 BANK STREET, SUITE 560
		CITY:			WHITE PLAINS
		STATE:			NY
		ZIP:			10606
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>ea163952-13dburwell_walden.htm
<DESCRIPTION>SCHEDULE 13D
<TEXT>
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<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>UNITED STATES</B></FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>SECURITIES AND
EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 0pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>SCHEDULE 13D</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Under the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Amendment No. )*</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 0pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>Waldencast plc</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name of Issuer)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Class A Ordinary Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Title of Class&nbsp;of Securities)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>G9503X103</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(CUSIP Number) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Burwell Mountain PTC
LLC, <BR>
as Trustee of Burwell Mountain Trust<BR>
270 W Pearl Ave., Apt. 103<BR>
Jackson WY 83001-8166</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>Tel.: (212) 848-9830</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>Copies to:</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Gregg A. Noel, Esq.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Paul T. Schnell, Esq.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Michael J. Schwartz, Esq.<FONT STYLE="background-color: yellow"><BR>
</FONT>Skadden, Arps, Slate, Meagher &amp; Flom LLP<BR>
525 University Avenue, Suite 1400<BR>
Palo Alto, California 94301<BR>
Tel.: (650) 470-4500</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>July 27, 2022 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Date of Event Which Requires Filing of this
Statement) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the filing person has previously filed a statement on Schedule
13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of &sect;&sect;240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box.&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Note:</B> Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: left">The remainder of this cover page shall be filled out for a reporting
person&rsquo;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing
information which would alter disclosures provided in a prior cover page.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information required on the remainder of this cover page shall
not be deemed to be &ldquo;filed&rdquo; for the purpose of Section&nbsp;18 of the Securities Exchange Act of 1934 (&ldquo;Act&rdquo;)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see
the Notes). &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1.5pt solid; padding: 4pt; width: 5%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt; width: 95%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Names
of Reporting Persons.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Burwell Mountain PTC LLC, as Trustee of Burwell Mountain Trust</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding: 4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check
the Appropriate Box if a Member of a Group (See Instructions)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
    </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
    &#9744;</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding: 4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt; font-size: 10pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SEC
Use Only</P>
                                                                                                                 <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding: 4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD>
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Source of Funds (See Instructions)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">OO&nbsp;</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding: 4pt; font-size: 10pt"><P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</FONT></P></TD>
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check
if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9744;</P>
                                                                                                <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding: 4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</FONT></TD>
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Citizenship
or Place of Organization</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">Wyoming</P></TD></TR>
  </TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding: 4pt; width: 18%; text-align: center; font-size: 10pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Number&nbsp;of<BR>
Shares<BR>
Beneficially<BR>
Owned&nbsp;by<BR>
Each<BR>
Reporting<BR>
Persons<BR>
With</P></TD>
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt; vertical-align: top; width: 5%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">7.</FONT></TD>
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt; vertical-align: top; width: 77%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sole
Voting Power</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,826,110</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">8.</FONT></TD>
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Shared
Voting Power</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">0</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">9.</FONT></TD>
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sole
Dispositive Power</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,826,110</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.</FONT></TD>
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Shared Dispositive Power</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">0</FONT></P></TD></TR>
  </TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding: 4pt; width: 5%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">11.</FONT></TD>
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt; width: 95%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Aggregate
Amount Beneficially Owned by Each Reporting Person</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,826,110</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding: 4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">12.</FONT></TD>
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt; font-size: 10pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check if the Aggregate Amount in Row (11)&nbsp;Excludes Certain Shares
(See Instructions)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9744;</P>                                                                                                                 <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding: 4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">13.</FONT></TD>
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Percent of Class&nbsp;Represented by Amount in Row (11)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">13.1% (1)</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding: 4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">14.</FONT></TD>
    <TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Type of Reporting Person:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">OO</FONT></P></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT>&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: left">The percentage of Class A ordinary shares (&ldquo;<U>Class A
Shares</U>&rdquo;) is based on 86,460,554 shares of Class A Shares outstanding as of August 3, 2022, as reported in the Form 20-F filed
by the Issuer on August 3, 2022, and an additional 3,997,777 Class A Shares issuable upon exercise of private placement warrants held
by the Reporting Person.</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Item&nbsp;1.</B> <B>Security and Issuer. </B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This statement on Schedule 13D (the &ldquo;<U>Schedule 13D</U>&rdquo;)
is being filed with respect to the Class A ordinary shares, par value $0.0001 per share, (the &ldquo;<U>Class A Shares</U>&rdquo;) of
Waldencast plc, a public limited company incorporated under the laws of Jersey (the &ldquo;<U>Issuer</U>&rdquo; or &ldquo;<U>Company</U>&rdquo;),
whose principal executive offices are located at 10 Bank Street, Suite 560, White Plains, NY 10606.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Item&nbsp;2.</B> <B>Identity and Background. </B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a-b) This Schedule 13D is filed by Burwell Mountain PTC LLC, a Wyoming
limited liability company (the &ldquo;<U>Reporting Person</U>&rdquo;), as trustee of Burwell Mountain Trust, a trust governed by the laws
of the State of Wyoming (the &ldquo;<U>Trust</U>&rdquo;).&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The principal business address for the Reporting Person is c/o Burwell
Mountain PTC LLC, 270 W Pearl Ave., Apt. 103, Jackson WY 83001-8166.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Neither the filing of this Schedule 13D nor any of its contents shall
be deemed to constitute an admission that the Reporting Person is the beneficial owner of the Class A Shares referred to herein for purposes
of Section 13(d) of the Securities Exchange Act of 1934, as amended (the &ldquo;<U>Exchange Act</U>&rdquo;), or for any other purpose,
and such beneficial ownership is expressly disclaimed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c) The principal business of the Trust is holding and investing in
securities.&nbsp; The principal business of the Reporting Person is serving as trustee of the Trust. Felipe Dutra, a director of the Issuer,
and his descendants are eligible beneficiaries of the Trust. The Reporting Person is an independent trustee over which Mr. Dutra has no
control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d) The Reporting Person has not during the last five years been convicted
in a criminal proceeding (excluding traffic violations or similar misdemeanors).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(e) The Reporting Person has not during the last five years been a
party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was or
is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal
or state securities laws or finding any violation with respect to such laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(f) See Item 2(a)-(b) above for citizenship or place of organization,
as applicable, of the Reporting Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Item&nbsp;3.</B> <B>Source and Amount of Funds or Other Consideration. </B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The securities reported herein as beneficially owned were acquired
pursuant to the Business Combination described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On July 28, 2022 (the &ldquo;<U>Closing Date</U>&rdquo;), Waldencast
plc, a public limited company incorporated under the laws of Jersey and formerly known as Waldencast Acquisition Corp. (&ldquo;<U>Old
Waldencast</U>&rdquo;), consummated the business combinations with Obagi Global Holdings Limited (&ldquo;<U>Obagi</U>&rdquo;), and Milk
Makeup LLC (&ldquo;<U>Milk</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the Agreement and Plan of Merger, dated as of November
15, 2021 (the &ldquo;<U>Obagi Merger Agreement</U>&rdquo;), by and among the Old Waldencast, Obagi Merger Sub, Inc., an indirect subsidiary
of Old Waldencast (&ldquo;<U>Merger Sub</U>&rdquo;), and Obagi, Merger Sub merged with and into Obagi, with Obagi surviving as an indirect
subsidiary of the Old Waldencast (the &ldquo;<U>Obagi Merger</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the Equity Purchase Agreement, dated as of November 15,
2021 (the &ldquo;<U>Milk Equity Purchase Agreement</U>&rdquo; and, together with the Obagi Merger Agreement, the &ldquo;<U>Transaction
Agreements</U>&rdquo;), by and among Old Waldencast, Obagi Holdco 1 Limited, a limited company incorporated under the laws of Jersey (&ldquo;Holdco
Purchaser&rdquo;), Waldencast Partners LP, a Cayman Islands exempted limited partnership (&ldquo;Waldencast LP&rdquo; and together with
Holdco Purchaser, the &ldquo;Milk Purchasers&rdquo;), Milk, certain former members of Milk (the &ldquo;Milk Members&rdquo;), and Shareholder
Representative Services LLC, a Colorado limited liability company, solely in its capacity as representative of the Milk Members (the &ldquo;Equityholder
Representative&rdquo;), the Milk Purchasers acquired from the Milk Members, and the Milk Members sold to the Milk Purchasers, all of the
issued and outstanding membership units of Milk in exchange for the Milk Cash Consideration (as defined in the Milk Equity Purchase Agreement),
the Milk Equity Consideration (as defined in the Milk Equity Purchase Agreement), which consists of partnership units of Waldencast LP
(&ldquo;Waldencast LP Common Units&rdquo;) exchangeable for Class A Shares, and Class B ordinary shares of the Company (the &ldquo;Milk
Transaction&rdquo; and, collectively with the Obagi Merger and the other transactions contemplated by the Transaction Agreements, the
&ldquo;Business Combination&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the Business Combination, Old Waldencast, a Cayman
Islands exempted company, changed its jurisdiction of incorporation by deregistering as an exempted company in the Cayman Islands and
continuing and domesticating as a public limited company under the laws of Jersey (the &ldquo;<U>Domestication</U>&rdquo;). Upon consummation
of the Business Combination, Old Waldencast changed its name to &ldquo;Waldencast plc.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Upon the effective time of the Domestication, among other things, (1)
each of the then issued and outstanding Class A ordinary shares of Old Waldencast converted automatically, on a one-for-one basis, into
Class A Shares, (2) each of the then issued and outstanding Class B ordinary shares of Old Waldencast converted automatically, on a one-for-one
basis, into Class A Shares, (3) each then issued and outstanding warrant of Old Waldencast (the &ldquo;<U>Old Waldencast warrants</U>&rdquo;)
converted automatically into a warrant to acquire one Class A Share (the &ldquo;<U>Waldencast plc warrants</U>&rdquo;), and (4) each of
the then issued and outstanding units of Old Waldencast that had not been previously separated into the underlying Old Waldencast Class
A ordinary shares and underlying Old Waldencast warrants were cancelled and entitled the holder thereof to one Class A Share and one-third
of one Waldencast plc warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the Business Combination, Old Waldencast sold and
issued an aggregate of 33,300,000 Class A Shares and 11,100,000 Waldencast plc warrants to Burwell Mountain PTC LLC, as the trustee of
Burwell Mountain Trust, Dynamo Master Fund and Beauty Ventures LLC (the &ldquo;<U>Forward Purchasers</U>&rdquo;) pursuant to the Forward
Purchase Transaction</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of the closing of the Business Combination, Waldencast Long-Term
Capital LLC, the sponsor of Old Waldencast of which the Trust was a member (the &ldquo;<U>Sponsor</U>&rdquo;), distributed all Company
securities held by it to its members on a pro rata basis, including the Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the Business Combination, the Trust received for securities
of Old Waldencast it previously held and the Distribution, an aggregate of (x) 7,848,333 Class A Shares and (y) 3,977,777 private placement
warrants exercisable for 3,997,777 Class A Shares at an exercise price of $11.50 per share (&ldquo;<U>Private Placement Warrants</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information in Item 6 of this Schedule 13D is incorporated herein
by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Item&nbsp;4.</B> <B>Purpose of Transaction. </B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information in Items 2 and 6 of this Schedule 13D is incorporated
herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Reporting Person holds the Company securities reported herein for
investment purposes, subject to the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Reporting Person intends to review on a continuing basis their
investments in the Company. The Reporting Person may communicate with the board of directors of the Company (the &ldquo;<U>Board</U>&rdquo;),
members of management and/or other stockholders from time to time with respect to operational, strategic, financial or governance matters
or otherwise work with management and the Board with a view to maximizing stockholder value. Such discussions and actions may be preliminary
and exploratory in nature, and may not rise to the level of a plan or proposal. The Reporting Person may seek to acquire additional securities
of the Company (which may include rights or securities exercisable or convertible into securities of the Company) from time to time, and/or
may seek to sell or otherwise dispose of some or all of the Company&rsquo;s securities from time to time, in each case, in open market
or private transactions, block sales or otherwise, including in connection with extraordinary corporate transactions, such as a tender
offer, merger or consolidation that would result in the de-listing of the Class A Shares, or through in-kind distributions. The Reporting
Person expects to continue to actively evaluate such transactions, and to take other actions intended to position the Reporting Person
to opportunistically engage in one or more of such transactions in the future. Subject to the agreements described herein, any transaction
that the Reporting Person may pursue may be made at any time and from time to time without prior notice and will depend on a variety of
factors, including, without limitation, the price and availability of the Company&rsquo;s securities, subsequent developments affecting
the Company, the Company&rsquo;s business and the Company&rsquo;s prospects, other investment and business opportunities available to
such Reporting Person, general industry and economic conditions, the securities markets in general, tax considerations and other factors
deemed relevant by such Reporting Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Except as described in this Schedule 13D, the Reporting Person does
not have any present plans or proposals that relate to or would result in any of the actions described in Item 4 of this Schedule 13D,
although, the Reporting Person, at any time and from time to time, may review, reconsider and change their position and/or change their
purpose and/or develop such plans and may seek to influence management of the Company or the Board with respect to the business and affairs
of the Company and may from time to time consider pursuing or proposing such matters with advisors, the Company or other persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Item&nbsp;5.</B> <B>Interest in Securities of the Issuer. </B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information in Item 6 of this Schedule 13D is incorporated herein
by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a) &ndash; (b) Calculations of the percentage of Class A Shares beneficially
owned is based on 86,460,554 Class A Shares outstanding as of August 3, 2022, as reported in the Form 20-F filed by the Company on August
3, 2022, and an additional 3,997,777 Class A Shares issuable upon exercise of Private Placement Warrants held by the Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The aggregate number and percentage of the Class A Shares beneficially
owned by each Reporting Person and, for each Reporting Person, the number of shares as to which there is sole power to vote or to direct
the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or
to direct the disposition are set forth on rows 7 through 11 and row 13 of the cover pages of this Schedule 13D and are incorporated herein
by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of the date hereof, the Reporting Person, as trustee of the Trust,
has the sole voting and dispositive power over the 11,826,110 Class A Shares beneficially owned on behalf of the Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c) Except as described in this Schedule 13D, the Reporting Persons
has not effected any transactions in the Class A Shares during the past 60 days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d) To the best knowledge of the Reporting Person, no one other than
the Reporting Person, or the partners, members, affiliates, beneficiaries or shareholders of the Trust, has the right to receive or the
power to direct the receipt of dividends from, or the proceeds from the sale of, the Class A Shares reported herein as beneficially owned
by the Reporting Person on behalf of the Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(e) Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Item&nbsp;6.</B> <B>Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. </B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Waiver and Agreement</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the consummation of the Business Combination, the
Company waived those certain provisions as contemplated by the Letter Agreement, dated as of March 15, 2021, by and among the Company,
its officers and directors, and certain other parties thereto (as amended, the &ldquo;<U>Letter Agreement</U>&rdquo;), and certain other
agreements related thereto (collectively, the &ldquo;<U>Waiver</U>&rdquo;), with respect to any securities held by an Insider (as defined
in the Letter Agreement) as of the closing the Business Combination (the &ldquo;<U>Lock-Up Securities</U>&rdquo;) that would disallow
a pledge by such Insider of the Lock-up Securities in a transaction for the purpose of financing such Insider&rsquo;s payment obligations
owed in connection with the closing of the Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with such Waiver, the Company entered into that certain
Waiver and Agreement, dated as of July 25, 2022, by and between the Company and the Trust (the &ldquo;<U>Waiver and Agreement</U>&rdquo;),
to permit a pledge by the Trust of its Lock-Up Securities to be used as a portion of the collateral under a loan to finance the Trust&rsquo;s
payment obligations under a Sponsor Forward Purchase Agreement in connection with the closing of the Business Combination. Pursuant to
the terms of the Waiver and Agreement, in the event of a foreclosure, any such lenders or a collateral agents will be required to execute
a joinder to the Letter Agreement pursuant to which they will be bound by the transfer restrictions of the Lock-Up Securities (including
the foreclosure of or other exercise of remedies under any such loan documentation) in the Letter Agreement for the duration of such agreement.
The Company also agreed to provide any such lender or collateral agent with customary registration rights in the event of default, foreclosure
or other exercise of remedies following the respective Lock-Up Periods (as defined in the Letter Agreement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><U>Pledge</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">In connection with a loan agreement entered
into between the Trust and a third party financial institution, the Trust pledged all of the Class A Shares and the Private Placement
Warrants owned by it as collateral to secure repayment of amounts outstanding under such loan agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Amended and Restated Registration Rights Agreement</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Concurrently with the consummation of the Business Combination, the
Company entered into that certain Amended and Restated Registration Rights Agreement, dated as of July 27, 2022, by and among the Company
and certain other holders (&ldquo;Registration Rights Agreement&rdquo;), which became effective upon the Closing. Pursuant to the terms
of the Registration Rights Agreement, the Company agreed, among other things, to provide to the parties to the agreement certain registration
rights, including customary &ldquo;piggy-back&rdquo; registration rights in respect of certain Class A Shares and certain other equity
securities of the Issuer that are held by the parties to the agreement from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">The foregoing description of the Letter Agreement,
Waiver and Agreement and Registration Rights Agreement do not purport to be complete and are subject to and qualified in their entirety
by the full text of such agreements, which are filed as an exhibit hereto and incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Item&nbsp;7.</B> <B>Materials to be Filed as Exhibits</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 9%; font-size: 10pt"><B>Exhibit<BR>
 Number</B></TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; width: 90%"><B>Description</B></TD></TR>

<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1840199/000121390022044277/f20f2022ex4-8_walden.htm">Registration Rights Agreement (incorporated by reference to Exhibit 4.8 to the Company&rsquo;s Form 20-F&nbsp;filed with the SEC on August 3, 2022).</A></TD></TR>

<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1840199/000121390022044277/f20f2022ex4-32_walden.htm">Waiver and Agreement (incorporated by reference to Exhibit 4.32 to the Company&rsquo;s Form 20-F filed with the SEC on August 3, 2022).</A></TD></TR>

<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">3.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1840199/000121390021016417/ea137924ex10-1_waldencast.htm">Letter Agreement (incorporated by reference to Exhibit 10.6 to the Form F-4/A filed with the SEC on June 30, 2022).</A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SIGNATURES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: August 8, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 279pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>BURWELL MOUNTAIN PTC LLC, AS TRUSTEE OF BURWELL MOUNTAIN TRUST</B></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 49%">&nbsp;</TD>
    <TD STYLE="width: 5%">By: </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">/s/ Sandra Viana</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Name:&nbsp;</TD>
    <TD><P STYLE="margin: 0pt 0">Sandra Viana</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Manager </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>[Burwell &ndash; Signature Page]</I></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">9</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

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