LifeVantage will pay dividends in preferred stock

By Mary-Katherine Stinson

Lexington, Ky., Aug. 31 – LifeVantage Corp.’s board on Aug. 30 declared a dividend of one preferred share purchase right for each outstanding share of the company’s common stock, payable on Sept. 11, according to an 8-K filing with the Securities and Exchange Commission.

The right initially entitles the registered holder to purchase 1/1,000 of a share of series A junior participating preferred stock at a price of $20 per 1/1,000 of a share, subject to adjustment.

The rights are not exercisable until the distribution date, which is the earlier of 10 business days following a public announcement that a person or group has become an acquiring person or 10 business following the beginning of or announcement of a tender or exchange offer which would result in any person or group becoming an acquiring person.

The rights will expire on Aug. 28, 2024.

Lehi, Utah-based LifeVantage is a nutraceutical company.

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