Guardion Health Sciences, Inc. Announces Closing of Initial Public Offering
April 09 2019 - 12:20PM
Guardion Health Sciences Inc. (“Guardion”) (Nasdaq: GHSI), an
ocular health sciences and technologies company that develops,
formulates and distributes condition-specific medical foods and
testing technologies supported by evidence-based protocols, today
announced that it closed its initial public offering of 1,250,000
shares of its common stock at a public offering price of $4.00 per
share for total gross proceeds of $5.0 million, before deducting
underwriting discounts and commissions and other offering costs and
expenses payable by Guardion. In addition, Guardion has granted the
underwriters a 45-day option to purchase up to 187,500 additional
shares of common stock at the public offering price, less
underwriting discounts and commissions, to cover over-allotments,
if any.
The shares began trading on the Nasdaq Capital
Market on Friday, April 5, 2019, under the symbol “GHSI.”
WallachBeth Capital, LLC acted as the lead
manager for the IPO and WestPark Capital, Inc. acted as
co-manager.
About Guardion Health Sciences,
Inc.
Guardion is an ocular health sciences company
that develops, formulates and distributes condition-specific
medical foods supported by evidence-based protocols, with an
initial medical food product that addresses a depleted macular
protective pigment, a known risk factor for age-related macular
degeneration (“AMD”), and a significant component of functional
vision performance. Guardion Health Sciences, Inc. has also
developed a proprietary medical device, the MapcatSF®, which
accurately measures the macular pigment density, therefore
providing the only two-pronged evidence-based protocol for the
treatment of a depleted macular protective pigment.
About
VectorVision®
VectorVision® specializes in the standardization
of contrast sensitivity, glare sensitivity, low contrast acuity,
and ETDRS acuity vision testing. Its patented standardization
system provides the practitioner or researcher the ability to
delineate very small changes in visual capability, either as
compared to the population or from visit to visit. VectorVision®’s
CSV-1000 device is considered the standard of care for clinical
trials. VectorVision® is a wholly-owned subsidiary of Guardion.
About WallachBeth Capital, LLC
WallachBeth Capital offers a robust range of
capital markets and investment banking services to the healthcare
community, connecting corporate clients with leading institutions,
creating value for both issuers and investors. The firm is a
leading provider of institutional execution services, offering
clients a full spectrum of solutions to help them navigate
increasingly complex markets. WallachBeth's expertise includes ETF,
equity and derivative trading. Operating on a fully disclosed,
agency-only basis, the firm is committed to facilitating all client
needs with transparency and integrity. The firm's website is
located at www.wallachbeth.com.
About WestPark Capital
WestPark Capital is a full-service investment
bank focused on emerging growth sectors such as healthcare,
software, technology, biotechnology, financial services,
manufacturing, consumer products, media and telecom industries,
among other categories. WestPark Capital provides a comprehensive
range of corporate finance services, including initial public
offerings, follow-on offerings, private placements, SIPOs and
corporate finance advisory services. Additional information about
WestPark Capital is available at www.wpcapital.com or
at info@wpcapital.com.
A registration statement relating to the shares
of common stock sold in this offering was declared effective by the
Securities and Exchange Commission (the “SEC”) on April 4,
2019. The offering was made only by means of a
prospectus. Copies of the final prospectus may be obtained on the
SEC’s website, www.sec.gov, or by contacting WallachBeth Capital,
LLC, Attention: Capital Markets, Harborside Financial Center Plaza
5, 185 Hudson Street, Ste 1410, Jersey City NJ 07311, by telephone
at 646-998-7606, or by email at cap-mkts@wallachbeth.com.
Forward-Looking Statement
Disclaimer
With the exception of the historical information
contained in this news release, the matters described herein may
contain forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. These statements
involve unknown risks and uncertainties that may individually or
materially impact the matters discussed herein for a variety of
reasons that are outside the control of the Company, including, but
not limited to, the Company’s ability to raise sufficient financing
to implement its business plan and its ability to successfully
develop and commercialize its proprietary products and
technologies. Readers are cautioned not to place undue reliance on
these forward-looking statements, as actual results could differ
materially from those described in the forward-looking statements
contained herein. Readers are urged to read the risk factors set
forth in the Company’s registration statement filed with the SEC,
which is available at the SEC’s website (www.sec.gov). The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Company Contact: |
Investor Relations
Contact: |
Michael
Favish |
Matthew
Abenante |
Chief
Executive Officer |
Porter,
LeVay & Rose |
Telephone:
(858) 605-9055 x 201 |
Telephone:
(212) 564-4700 |
E-mail: mfavish@guardionhealth.com |
E-mail: matthew@plrinvest.com |
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