Guardion Health Sciences Inc. (GHSI) shares took a significant hit on Tuesday, plummeting by 42.2% to $3.20, following the company’s announcement of a plan to dissolve and liquidate. The decision includes delisting from the Nasdaq and appointing an interim President and CEO.
Guardion Health Sciences has opted to voluntarily delist its common stock from the Nasdaq Capital Market, with trading expected to be suspended on October 14th and the delisting finalized on October 21st. The company’s plan involves selling its Viactiv® brand and then dissolving, with the intention to file its certificate of dissolution on October 22nd, 2024.
Investors can expect a liquidating dividend of approximately $3.25 per share, although the precise amount and timing are subject to uncertainty due to outstanding liabilities and other expenses. To steer the company through this transition, Guardion has appointed Mark Goldstone as interim President and CEO, replacing Jan Hall. Following the delisting, Guardion will wind down its operations and seek approval from the Securities and Exchange Commission (SEC) to suspend its reporting obligations.
The stock’s performance reflects the news, with a 52-week high of $18.00 and a 52-week low of $3.34.
