DOYLESTOWN, Pa., Dec. 21, 2017 (GLOBE NEWSWIRE) -- ProPhase Labs, Inc. (NASDAQ:PRPH) (www.ProPhaseLabs.com), a
diversified natural health medical science company (“ProPhase”), announced today the final results of its tender offer to purchase
up to 1,700,000 shares of its common stock at a price of $2.30 per share, which expired at midnight, New York City time, on
December 18, 2017.
ProPhase has accepted for purchase 1,948,569 shares of its Common Stock, including all “odd lots” validly tendered, at a
purchase price of $2.30 per share, for an aggregate purchase price of approximately $4.5 million. Based on the final tabulation by
American Stock Transfer & Trust Company, the Depositary for the tender offer, 2,072,280 shares of ProPhase Common Stock were
properly tendered and not withdrawn. ProPhase has been informed by the Depositary that, after giving effect to the priority for an
aggregate amount of approximately 8,401 “odd lot” shares, the final proration factor for the remaining tendered shares is
approximately 94.4%.
The Depositary will promptly issue payment for the shares validly tendered and accepted for purchase and will return all other
shares tendered.
Immediately following the purchase of the tendered shares, ProPhase expects to have 11,079,892 shares of common stock
outstanding.
The Information Agent for the tender offer is MacKenzie Partners, Inc. For questions and information, please call the
Information Agent toll free at 1-800-322-2885.
THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO BUY OR THE SOLICITATION OF AN
OFFER TO SELL SHARES OF PROPHASE LABS, INC. COMMON STOCK. THE TENDER OFFER WAS MADE ONLY PURSUANT TO THE OFFER TO PURCHASE, LETTER
OF TRANSMITTAL AND RELATED MATERIALS THAT PROPHASE DISTRIBUTED TO ITS STOCKHOLDERS AND FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION. STOCKHOLDERS AND INVESTORS SHOULD READ CAREFULLY THE OFFER TO PURCHASE, LETTER OF TRANSMITTAL AND RELATED MATERIALS
BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE VARIOUS TERMS OF, AND CONDITIONS TO, THE TENDER OFFER. STOCKHOLDERS AND
INVESTORS MAY OBTAIN A FREE COPY OF THE TENDER OFFER STATEMENT ON SCHEDULE TO, THE OFFER TO PURCHASE, LETTER OF TRANSMITTAL AND
OTHER DOCUMENTS THAT PROPHASE FILED WITH THE SECURITIES AND EXCHANGE COMMISSION AT THE COMMISSION’S WEBSITE AT WWW.SEC.GOV OR BY
CALLING MACKENZIE PARTNERS, INC., THE INFORMATION AGENT FOR THE TENDER OFFER, TOLL-FREE AT 1-800-322-2885.
About ProPhase
ProPhase is a manufacturer, marketer and distributor of a diversified range of health care products and cold remedy products
that are offered to the general public. We are also engaged in the research and development of potential over-the-counter (“OTC”)
drug and natural base health products including supplements, personal care and cosmeceutical products, and intend to explore and
evaluate opportunities outside of the consumer products industry. For more information visit us at www.ProPhaseLabs.com.
Forward-Looking Statements
All statements contained in this press release, other than statements of historical fact, are forward-looking statements. These
statements speak only as of the date of this press release and are based on our current plans and expectations and involve risks
and uncertainties that could cause actual future events or results to be different from those described in or implied by such
forward-looking statements, including risks and uncertainties relating to changes in facts and circumstances and other
uncertainties concerning the completion of the tender offer. Further information about these matters can be found in our Securities
and Exchange Commission filings. Except as required by applicable law or regulation, we do not undertake any obligation to update
our forward-looking statements to reflect future events or circumstances.
Investor Contact
Ted Karkus, Chairman and CEO
ProPhase Labs, Inc.
(267) 880-1111
