SCOTTSDALE, Ariz., Jan. 24, 2011 /PRNewswire/ -- Matrixx
Initiatives, Inc. (Nasdaq: MTXX) ("Matrixx" or the "Company"), an
over-the-counter healthcare company that develops and markets
Zicam® products, today announced the expiration of the go-shop
period provided for in the previously announced merger agreement,
dated as of December 14, 2010, by and
among Matrixx, Wonder Holdings, Inc. ("Wonder") and Wonder Holdings
Acquisition Corp. (the "Merger Agreement"), which contemplates the
acquisition of Matrixx by Wonder Holdings, Inc., a corporation
controlled by H.I.G. Capital LLC.
As previously summarized, during the go-shop period, which ended
at 11:59 p.m., New York City time, on January 22, 2011, the Company's representatives
actively, solicited alternative proposals to acquire Matrixx from
strategic parties and financial sponsor firms. Despite a broad
solicitation of potentially interested parties, the Company did not
receive any alternative acquisition proposals during the go-shop
period. Matrixx is now prohibited by the "no shop" provisions of
the Merger Agreement from, among other things, encouraging or
soliciting third-parties regarding alternative acquisition
proposals.
The tender offer is scheduled to expire at 5:00 p.m., New York
City time, on Monday, January 31,
2011, unless extended in accordance with the terms of the
Merger Agreement and applicable law. The Company continues to
recommend that stockholders tender their shares pursuant to the
tender offer commenced by Wonder.
About Matrixx Initiatives, Inc.
Matrixx Initiatives, Inc. is an over-the-counter healthcare
company that develops and markets Zicam® products. Zicam, LLC, its
wholly-owned subsidiary, markets and sells Zicam® products in the
cough and cold category. The Company markets Zicam brand
pharmaceuticals, including Zicam Cold Remedy in multiple oral
delivery forms; Zicam Allergy and Congestion Relief products; as
well as Zicam Cough and Zicam Multi-Symptom relief items. For more
information regarding Matrixx products, go to www.Zicam.com. To
find out more about Matrixx Initiatives, Inc. (Nasdaq: MTXX), visit
our website at www.matrixxinc.com. For additional information,
contact William Hemelt, President
and Chief Executive Officer, at 602-385-8888, or Bill Barba, Vice President of Finance &
Accounting, at 602-385-8881. Matrixx is located at 8515 E. Anderson
Dr., Scottsdale, Arizona
85255.
Notice to Investors
This press release is neither an offer to purchase nor a
solicitation of an offer to sell shares of the Company's common
stock. INVESTORS AND STOCKHOLDERS ARE URGED TO READ BOTH THE TENDER
OFFER STATEMENT AND THE SOLICITATION/RECOMMENDATION STATEMENT
REGARDING THE TENDER OFFER BECAUSE THEY CONTAIN IMPORTANT
INFORMATION. The tender offer statement on Schedule TO has
been filed by Wonder Holdings Acquisition Corp. and Wonder
Holdings, Inc. with the SEC in connection with the commencement of
the offer, and the solicitation/recommendation statement on
Schedule 14D-9 has been filed by Matrixx Initiatives, Inc. with the
Securities and Exchange Commission ("SEC") with respect to the
offer. The offer to purchase, forms of letter of transmittal and
related documents and the solicitation/recommendation statement on
Schedule 14D-9 have been mailed to the Company stockholders.
Investors and stockholders may also obtain a free copy of these
statements and other documents filed by Wonder Holdings Acquisition
Corp. and Wonder Holdings, Inc. or the Company with the SEC at the
website maintained by the SEC at www.sec.gov. The tender offer
statement and related materials, solicitation/recommendation
statement, and such other documents may be obtained for free by
directing such requests to D. F.
King & Co., Inc., the information agent for the tender
offer, at (212) 269-5550 for banks and brokers or
(800) 347-4750 for shareholders and all others.
Forward Looking Statements
This press release may contain "forward-looking statements". The
words "may," "could," should," "would," "believe," anticipate,"
"estimate," "expect," "intend," "plan," "target," "goal," and
similar expressions are intended to identify forward-looking
statements. All forward-looking statements are subject to certain
risks and uncertainties and are subject to change based on various
factors, many of which are beyond our control. These risks and
uncertainties include, but are not limited to, uncertainties as to
how many of the Company stockholders will tender their stock in the
offer; the possibility that competing offers will be made; and the
possibility that various closing conditions for the transaction may
not be satisfied or waived and risks and uncertainties relating to
these matters that are discussed in documents filed with the SEC by
the Company as well as the tender offer documents that have been
filed by Wonder Holdings Acquisition Corp. and Wonder Holdings,
Inc. and the solicitation/recommendation statement that has been
filed by the Company. The Company does not undertakes any
obligation to update any forward-looking statements as a result of
new information, future developments or otherwise, except as
expressly required by law.
SOURCE Matrixx Initiatives, Inc.