Guardion Health Sciences Announces Completion of Sale of its Viactiv® Brand and Business to Doctor’s Best Inc. and Stockholder Approval of Plan of Liquidation and Dissolution

May 31, 2024

https://www.globenewswire.com/news-release/2024/05/31/2891752/0/en/Guardion-Health-Sciences-Announces-Completion-of-Sale-of-its-Viactiv-Brand-and-Business-to-Doctor-s-Best-Inc-and-Stockholder-Approval-of-Plan-of-Liquidation-and-Dissolution.html

HOUSTON, TEXAS, May 31, 2024 (GLOBE NEWSWIRE) — Guardion Health Sciences, Inc. (Nasdaq:GHSI) (“Guardion” or the “Company”), a clinical nutrition company that offers a portfolio of science-based, clinically-supported products designed to support the health needs of consumers, healthcare professionals and providers and their patients, announced that today it closed on its Definitive Agreement to sell its Viactiv business to Doctor’s Best Inc. for gross cash consideration of $17,200,000. The Company received net cash proceeds of $16,250,000 at closing, with another $225,000 retained in a third-party escrow account with U.S. Bank, NA, to be released in accordance with the terms of the transaction documents.

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