Guardion Health Sciences, Inc. Announces Pricing of Initial Public Offering

SAN DIEGO–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24GHSI&src=ctag” target=”_blank”gt;$GHSIlt;/agt; lt;a href=”https://twitter.com/hashtag/IPO?src=hash” target=”_blank”gt;#IPOlt;/agt;–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 the pricing of
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. All of the shares are being offered by Guardion. The shares are
expected to begin trading on the Nasdaq Capital Market on Friday, April
5, 2019, under the symbol “GHSI.”

WallachBeth Capital, LLC is acting as the lead manager for the IPO and
WestPark Capital, Inc. is acting as co-manager.

A registration statement relating to the shares of common stock being
sold in this offering was declared effective by the Securities and
Exchange Commission (the “SEC”) on April 4, 2019. The offering is being
made only by means of a prospectus. This press release shall not
constitute an offer to sell, or a solicitation of an offer to buy these
securities, nor shall there be any sale of, these securities in any
state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.

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 being
sold in this offering was declared effective by the Securities and
Exchange Commission (the “SEC”) on April 4, 2019. The offering is being
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.