Doctor's Best, Inc. agreed to acquire Activ Nutritional, LLC. from Guardion Health Sciences, Inc. (NasdaqCM:GHSI) for $17.2 million on January 30, 2024. Activ Nutritional has total assets of $8.17 million and net assets of $27.56 million as of September 30, 2023.

The $17.2 million (the Base Purchase Price), of which $1.7 million was placed in a third-party escrow account pursuant to the terms of the Agreement. The Seller Termination Fee is $0.688 million. Guardion Health Sciences intends to use of the proceeds received from the sale of Activ Nutritional to continue to fund its operations, including its ocular healthcare business.

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 USA and Alantra Partners S.A acted as financial advisor and Sheppard, Mullin, Richter & Hampton LLP acted as legal advisor to Guardion Health Sciences, Inc. Musick Peeler & Garrett LLP acted as legal advisor to Doctor's Best.