Guardion to Sell Viactiv® Brand and Business to Doctor’s Best Inc.

 Guardion Health Sciences, Inc. (Nasdaq: GHSI) (“Guardion” or the “Company”) announced today that it has signed an equity purchase agreement to sell its Activ Nutritional, LLC subsidiary, which owns the Viactiv® brand and business, to Doctor’s Best Inc. (“Doctor’s Best”), a wholly-owned subsidiary of Kingdomway USA Corp. (“Kingdomway”), for gross cash consideration of $17.2 million, payable in full at closing. The transaction has been approved by the respective Boards of Directors of Guardion and of Doctor’s Best, and remains subject to normal and customary closing conditions, including approval of the transaction by the Company’s stockholders at a forthcoming Special Meeting of Stockholders. Assuming requisite approval by the Company’s stockholders, the transaction is expected to close during the quarter ending June 30, 2024.

Alantra, LLC is acting as exclusive financial advisor to the Company, and Sheppard, Mullin, Richter & Hampton LLP is serving as legal counsel to Guardion.

v\https://www.globenewswire.com/news-release/2024/01/30/2820566/0/en/Guardion-Health-Sciences-Announces-Entry-into-Definitive-Agreement-to-Sell-its-Well-Known-Viactiv-Brand-and-Business-to-Doctor-s-Best-Inc.html