LifeVantage Announces Refinancing of Term Loan
April 04 2016 - 4:05PM
LifeVantage Corporation (Nasdaq:LFVN), announced today that it has
entered into a new $10 million three-year term loan credit package
with Zions Bank. Proceeds from the new credit agreement, along with
cash on hand, will be used to repay the company’s existing higher
interest rate term loan with TCW.
“We are very pleased to partner with Zions Bank on our new
credit agreement,” said LifeVantage Chief Financial Officer, Mark
Jaggi. “The new term loan offers a significantly reduced interest
rate than our prior credit agreement, and more appropriately
reflects our favorable financial position and strong cash
flows.”
About LifeVantage Corporation LifeVantage
Corporation (Nasdaq:LFVN), is a science based network marketing
company dedicated to visionary science that looks to transform
health, wellness and anti-aging internally and externally at the
cellular level. The company is the maker of Protandim®, the Nrf2
Synergizer® patented dietary supplement, the TrueScience™
Anti-Aging Skin Care Regimen, Canine Health, the AXIO™ energy
product line and the PhysIQ™ smart weight management system.
LifeVantage was founded in 2003 and is headquartered in Salt Lake
City, Utah.
Forward Looking StatementsThis document
contains forward-looking statements made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Words and expressions reflecting optimism, satisfaction or
disappointment with current prospects, as well as words such as
"believe", "hopes", "intends", "estimates", "expects", "projects",
"plans", "anticipates", "look forward to", “goal”, “ideal fit”, and
variations thereof, identify forward-looking statements, but their
absence does not mean that a statement is not forward-looking.
Examples of forward-looking statements include, but are not limited
to, statements we make regarding our leadership in the global
market, future growth and financial performance. Such
forward-looking statements are not guarantees of performance and
the Company's actual results could differ materially from those
contained in such statements. These forward-looking statements are
based on the Company's current expectations and beliefs concerning
future events affecting the Company and involve known and unknown
risks and uncertainties that may cause the Company's actual results
or outcomes to be materially different from those anticipated and
discussed herein. These risks and uncertainties include, among
others, those discussed in greater detail in the Company's Annual
Report on Form 10-K and the Company's Quarterly Report on Form 10-Q
under the caption "Risk Factors," and in other documents filed by
the Company from time to time with the Securities and Exchange
Commission. The Company cautions investors not to place undue
reliance on the forward-looking statements contained in this
document. All forward-looking statements are based on information
currently available to the Company on the date hereof, and the
Company undertakes no obligation to revise or update these
forward-looking statements to reflect events or circumstances after
the date of this document, except as required by law.
Investor Relations Contact:
Cindy England (801) 432-9036
Director of Investor Relations
-or-
Scott Van Winkle (617) 956-6736
Managing Director, ICR
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