Guardion Health Sciences Announces Entry into Definitive Agreement to Sell its Well-Known Viactiv® Brand and Business to Doctor's Best Inc. [Yahoo! Finance]
BEST Inc. American Depositary Shares, each representing five Class A Ordinary Share (BEST)
Last best inc. american depositary shares, each representing five class a ordinary share earnings: 3/12 06:33 am
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Source: Yahoo! Finance
it has signed an equity purchase agreement to sell its Activ Nutritional, LLC subsidiary, which owns the Viactiv ® brand and business, to Doctor's Best Inc. (“Doctor's Best”), a wholly-owned subsidiary of Kingdomway USA Corp. (“Kingdomway”), for gross cash consideration of $17.2 million, payable in full at closing. 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. Robert Weingarten, the Chairman of the Board of Directors of the Company, commented, "As we have previously announced, in light of continuing market conditions and economic realities, the Board of Directors has been exploring a diverse range of strategic
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