Guardion Health Sciences Sells Activ to Doctor’s Best

Guardion Health Sciences Inc (GHSI) has released an update to notify the public and investors about an entry into a material definitive agreement.

Guardion Health Sciences, Inc. and its subsidiaries, Viactiv and Activ, agreed to sell all outstanding equity interests of Activ to Doctor’s Best Inc. for a base cash consideration of $17.2 million, with $1.7 million held in escrow. The purchase price may be adjusted based on Activ’s working capital at closing. Doctor’s Best is a subsidiary of Kingdomway USA Corp., which is part of Xiamen Kingdomway Group Company listed on the Shenzhen Stock Exchange. The Agreement includes customary terms and is contingent upon approval by the Company’s stockholders, among other conditions.

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For a comprehensive understanding of the announcement, you can read the full document here.