Guardion Health up on deal to sell subsidiary unit for $17.2 mln

Guardion Health Sciences

31/01/2024 10:14

** Shares of healthcare firm Guardion Health Sciences Inc
 GHSI.O  more than double to $11.3 - biggest gainer across U.S.
stock exchanges premarket
    ** GHSI, the co focused on nutrition products, late on
Tuesday said it has signed an agreement to sell its subsidiary
unit Activ Nutritional, which owns the Viactiv brand and
business, to Doctor's Best
    ** Under the deal, Doctor's Best to pay $17.2 million to
GHSI
    ** The transaction is expected to close during the quarter
ending June 30, 2024
    ** Alantra, LLC is acting as exclusive financial advisor to
the GHSI
    ** GHSI's stock had fallen ~26% in 2023

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))