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, has retained Alantra, LLC (“Alantra”)
as its financial advisor to assist with the strategic review and
transaction process.
Robert N. Weingarten, the Chairman of the Board
of Directors of Guardion, stated, “We do not believe that the
current market valuation of the Company accurately reflects the
potential value of the Company and our clinical nutrition platform
and brand. As fiduciaries on behalf our stockholders, the Guardion
Board of Directors has been aggressively exploring a diverse range
of strategic options over the past several months to enhance
stockholder value. Our near-term objective is to identify and
analyze strategic transactional opportunities, including a sale of
the Company and/or its Viactiv® brand, that would be expected to
deliver enhanced value to stockholders. In this regard, we
have engaged with Alantra, which has demonstrated a substantial
record of experience and success in achieving significant results
for clients in the Company’s industry, and we are looking forward
to working with the Alantra team to achieve our objectives”.
Bret Scholtes, Guardion’s President and Chief
Executive Officer, commented, “While we are pleased with the
progress that we have made since we acquired the Viactiv® brand in
June 2021, given current market conditions and realities, we
recognize the need to consider other strategic measures,
transactions or partnerships that will provide us with the means to
better employ and leverage our existing resources and develop new
commercial avenues to generate improved returns for our
stockholders. We look forward to partnering with Alantra to help
identify and actualize these possibilities”.
The Board of Directors has not set a timetable
for the strategic review process, nor has it made any decisions
related to any further actions or potential strategic alternatives
at this time. There can be no assurances that this process will
result in a transaction, or that if a transaction is completed,
that it will ultimately enhance stockholder value. The Company does
not intend to provide periodic updates until the Board of Directors
determines that disclosure is appropriate and/or necessary under
the circumstances.
About Alantra, LLC
Alantra is a global alternative asset
management, investment banking, and credit portfolio advisory firm
focusing on providing high value-added services to companies,
families, and investors operating in the mid-market segment.
Alantra has over 650 professionals across Europe, the US, Latin
America, and Asia.
Alantra’s investment banking division provides
independent advice on M&A, debt advisory, financial
restructuring, and capital markets transactions, having advised on
more than 650 deals for a total value of c.€88.5bn in the last four
years. Alantra’s senior bankers and execution teams offer a global
understanding of industry sectors combined with strong local
relationships with the companies, investors, entrepreneurs, and
financing institutions in each of its markets.
About Guardion Health Sciences, Inc.
Guardion Health Sciences, Inc. (Nasdaq: GHSI),
is 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. The Company’s combination of
expertise and scientifically supported products is the foundation
of Guardion’s position within the clinical nutrition marketplace.
Information and risk factors with respect to Guardion and its
business may be obtained in the Company’s filings with the SEC at
www.sec.gov.
Forward-Looking Statement Disclaimer
With the exception of the historical information
contained in this news release, the matters described herein may
contain “forward-looking statements” within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. These
forward-looking statements contain information about our
expectations, beliefs, plans or intentions regarding our product
development and commercialization efforts, research and development
efforts, business, financial condition, results of operations,
strategies or prospects, and other similar matters. Statements
preceded by, followed by or that otherwise include the words
“believes,” “expects,” “anticipates,” “intends,” “projects,”
“estimates,” “plans,” “hopes” and similar expressions or future or
conditional verbs such as “will,” “should,” “would,” “may” and
“could” are generally forward-looking in nature and not historical
facts, although not all forward-looking statements include the
foregoing.
These statements are based on management’s
current expectations and assumptions about future events, which are
inherently subject to uncertainties, risks and changes in
circumstances that are difficult to predict, and involve unknown
risks and uncertainties that may individually or materially impact
the matters discussed herein for a variety of reasons that are
outside the control of the Company, including, but not limited to,
the Company’s ability to raise sufficient financing to implement
its business plan, the impact of the Company’s exploration of
strategic alternatives, the integration of new management team
members, the implementation of new financial, management,
accounting and business software systems, the integration of
possible acquisition targets, the impact of the Covid-19 pandemic,
supply chain disruptions, inflation and a potential recession on
the Company’s business, operations and the economy in general, the
Company’s ability to successfully develop and commercialize its
proprietary products and technologies, and the Company’s ability to
maintain compliance with Nasdaq’s listing requirements.
Readers are cautioned not to place undue
reliance on these forward-looking statements, as actual results
could differ materially from those described in the forward-looking
statements contained herein. Readers are urged to read the risk
factors set forth in the Company’s filings with the SEC, which are
available at the SEC’s website (www.sec.gov). The Company disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Investor Relations Contact:CORE IRScott
Arnold516-222-2560scotta@coreir.com
Media Relations Contact:Jules AbrahamCORE
IR917-885-7378julesa@coreir.com
Alantra, LLC Contact:Michaela
Zhang484-680-1354michaela.zhang@alantra.com
Guardion Health Sciences (NASDAQ:GHSI)
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