GUARDION HLTH SCIENCS INC - GHSI STOCK NEWS

Guardion Health Sciences (NASDAQ: GHSI) has filed a certificate of dissolution with Delaware's Secretary of State on October 30, 2024. The company has closed its stock transfer books and expects to pay stockholders a liquidating dividend totaling approximately $3.25 per share of Common Stock. Following the dissolution, Guardion will only engage in activities necessary to preserve asset value and complete business wind down. The company has received SEC approval to indefinitely suspend its reporting obligations.

Guardion Health Sciences (Nasdaq: GHSI) has announced its intent to delist its common stock from the Nasdaq Capital Market, with trading suspension expected on October 14, 2024. The company has appointed Mark Goldstone as Interim President and CEO, effective October 18, 2024, replacing Jan Hall.

Following stockholder approval of a Plan of Liquidation and Dissolution, Guardion plans to file its certificate of dissolution on October 22, 2024. The company expects to pay a liquidating dividend to stockholders of record, estimated at approximately $3.25 per share of Common Stock, though this amount may vary.

Guardion will cease business activities post-dissolution, except to wind up affairs and distribute assets. The company also intends to suspend its SEC reporting obligations indefinitely.

Guardion Health Sciences (Nasdaq: GHSI) has announced a significant cash dividend of $5.00 per share of common stock. The company's Board of Directors declared this dividend for stockholders of record as of September 9, 2024, with the payment scheduled for September 23, 2024. This substantial dividend declaration suggests a strong financial position for Guardion and represents a notable return of value to shareholders. The announcement may have positive implications for investor confidence and could potentially impact the stock's performance in the near term.

Guardion Health Sciences (GHSI) announced financial results for Q2 2024 and provided updates on recent developments. Key highlights include:

1. Sale of Viactiv® brand for $17.2 million gross cash consideration
2. Stockholder approval of Plan of Liquidation and Dissolution
3. Cash position of $14.8 million as of June 30, 2024
4. Q2 2024 revenue from ocular products: $72,918
5. Q2 2024 net income: $10,324,330, including $12,742,385 gain on sale of discontinued operations
6. Redemption of Series A Warrants for $5.6 million

The company is evaluating alternative transaction proposals and expects to complete this process in Q3 2024. The Board is also considering declaring cash distributions to stockholders in the near term.

Guardion Health Sciences announced the completion of its sale of the Viactiv business to Doctor’s Best Inc. for $17.2 million gross cash, with net proceeds of $16.25 million. An additional $225,000 is held in escrow. Stockholders approved the sale and a Plan of Liquidation and Dissolution, enabling the company to dissolve voluntarily. The sale results from a strategic review over the past year. Guardion's Board of Directors retains the option to delay or abandon the dissolution if a better alternative emerges.

Guardion Health Sciences (GHSI) announced that stockholders have approved the sale of its Viactiv business. The special meeting, held on May 23, 2024, was adjourned to May 31, 2024, to solicit additional proxies for its Plan of Liquidation and Dissolution. The sale to Doctor’s Best Inc. for $17.2 million in cash is expected to close by June 30, 2024. Stockholders could receive liquidating cash distributions between $9.00 and $11.00 per share if the dissolution plan is also approved. The Board recommends stockholders vote for the proposal to maximize cash distribution and minimize risks to share value.

Guardion Health Sciences announced that its largest stockholder, Bradley Louis Radoff, who holds 18.92% of shares, has voted in favor of selling the Viactiv business and the Plan of Liquidation. The company estimates that the total distribution to stockholders from the liquidation will range between $9.00 and $11.00 per share, contingent on the approval of these proposals. The vote is scheduled for May 23, 2024. The sale agreement, valued at $17.2 million, was made with Doctor's Best Inc. and is contingent upon majority stockholder approval.

The company's board is unanimous in supporting these proposals, suggesting that not approving them could significantly risk the value of the company's shares. The transaction is expected to be completed by June 30, 2024, provided customary conditions are met. If the Plan of Liquidation is not approved, distributing the cash from the sale could be delayed due to ongoing public company expenses.

Guardion Health Sciences (Nasdaq: GHSI) reported financial results for Q1 2024, showing a revenue decrease of 5.8% to $2.99M compared to Q1 2023. Gross profit dropped 11.7% to $1.18M, and the company posted a net loss of $4.75M, compared to a net income of $533K in the same period last year. EPS is recommending that shareholders vote in favor of selling the Viactiv brand and liquidating the company at the upcoming meeting on May 23, 2024. The sale could result in cash distributions representing a premium over recent stock prices. New products launched in Q1 2024 include Omega Boost Gel Bites and Lumega-Z drink mix powder. The sale of Activ Nutritional, for $17.2M is anticipated if approved. Cash used in operations was $754K, and cash equivalents totaled $5.6M as of March 31, 2024.

Guardion Health Sciences, Inc. (GHSI) reports a 12% increase in net revenues, reaching approximately $11.9 million for the year ended December 31, 2023. The Viactiv® product line contributed significantly to the revenue growth, accounting for 97.2% of total revenue. The company also saw a 19.3% increase in gross profit, with a gross margin of 44.0%. Operating expenses decreased by 55.7%, resulting in a net income of $158,033 for 2023. Recent developments include an agreement to sell Activ Nutritional, for $17.2 million and a potential dissolution of the company.