Core Points - Guardion Health Sciences, Inc. has completed the sale of its Viactiv business to Doctor's Best Inc. for a gross cash consideration of $17,200,000, resulting in net cash proceeds of $16,250,000 at closing [1] - The sale was approved by Guardion's stockholders during a Special Meeting held on May 23, 2024, and the meeting was reconvened on May 31, 2024, to adopt a Plan of Liquidation and Dissolution [2] - Following the sale, the Company has minimal operations and the Board of Directors has decided to proceed with voluntary dissolution and liquidation, although this decision can be abandoned if a more favorable transaction arises [3] Company Overview - Guardion Health Sciences, Inc. is a clinical nutrition company that provides a range of science-based, clinically-supported products aimed at meeting the health needs of consumers and healthcare professionals [5]
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