LifeVantage Launches $40 Million Dutch Auction Stock Buyback Program

 

LifeVantage Corporation (Nasdaq:LFVN), a company dedicated to helping people achieve healthy living through a combination of a compelling business opportunity and scientifically validated products, will commence its previously announced modified Dutch auction tender offer today, September 24, 2013.

Through the tender offer, the Company will offer to purchase up to $40,000,000 of its common stock at a price per share not less than $2.45 and not greater than $2.80. The tender offer will expire at 5:00 p.m., New York City time, on Friday, October 25, 2013, unless extended by the Company. Tenders of shares must be made on or prior to the expiration of the tender offer and may be withdrawn at any time prior to the expiration of the tender offer, in each case, in accordance with the procedures described in the tender offer materials.

A modified Dutch auction tender offer allows shareholders to indicate how many shares and at what price within the Company's specified range they wish to tender.

Based on the number of shares tendered and the prices specified by the tendering shareholders, the Company will determine the lowest price per share within the range that will enable the Company to purchase $40,000,000 of its common stock, or a lesser amount if the offer is not fully subscribed. All shares repurchased by the Company in the tender offer will be purchased at the same price.  

The Company expects to enter into a new credit facility to fund the share purchases in the tender offer. The tender offer will not be conditioned upon any minimum number of shares being tendered, but will be subject to the completion of the new credit facility and other customary conditions that are described in the tender offer materials.

D.A. Davidson & Co. will be the dealer manager for the tender offer. Georgeson Inc. will serve as information agent for the tender offer and Computershare will serve as depository for the tender offer.

Shareholders who have questions or need assistance should call Georgeson Inc. toll-free at 888?607-9107.

Neither the Company, its directors, the dealer manager, the information agent nor the depositary makes any recommendation as to whether to tender shares or as to the price at which to tender them. Shareholders will be able to obtain copies of the offer to purchase, related materials filed by the Company as part of the statement on Schedule TO and other documents filed with the Securities and Exchange Commission through the SEC's website at www.sec.gov without charge when these documents become available.  

Shareholders may also obtain a copy of these documents, as well as any other documents the Company has filed with the SEC, without charge, by contacting the Company or through the Company's website at www.lifevantage.com. Shareholders are urged to carefully read these materials, when available, prior to making any decision with respect to the offer.

Tender Offer Statement

The anticipated tender offer discussed in this press release has not yet commenced. This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any shares of the Company's common stock. The solicitation and offer to buy the Company's common stock will only be made pursuant to the offer to purchase and related materials that the Company will make available to its shareholders. Shareholders should read those materials and the documents incorporated therein by reference carefully when they become available because they will contain important information, including the various terms and conditions of the tender offer.

About LifeVantage Corporation

LifeVantage Corporation (Nasdaq:LFVN), a leader in Nrf2 science and the maker of Protandim®, the Nrf2 Synergizer® patented dietary supplement, TrueScience® Anti-Aging Cream and LifeVantage® Canine Health, is a science based network marketing company. LifeVantage is dedicated to visionary science that looks to transform wellness and anti-aging internally and externally with products that dramatically reduce oxidative stress at the cellular level. LifeVantage was founded in 2003 and is headquartered in Salt Lake City, Utah.