LifeVantage Announces New $67 Million Credit Facility

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SALT LAKE CITY, Oct. 21, 2013 (GLOBE NEWSWIRE) -- 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, today reported that in connection with its recently announced Dutch auction tender offer for common share purchases, it entered into a Financing Agreement on October 18, 2013, with a fund managed by TCW Special Situations, LLC. The Financing Agreement provides for a senior secured credit facility in an aggregate principal amount of $67 million (the "Term Loan"), of which approximately $47 million will be funded at close and $20 million will be available post-close for general corporate purposes. The Term Loan is a five year loan maturing on October 18, 2018 and the principal amount is repayable in consecutive quarterly installments beginning with the calendar quarter ending March 31, 2014.

Douglas C. Robinson, President and Chief Executive Officer of LifeVantage, stated, "The successful closing of our Credit Facility provides long-term financing that complements our capital structure and illustrates the strength of our operating metrics including free cash flow. This facility will fund our recently announced modified Dutch tender offer which will enable us to reduce the number of shares outstanding and we believe improve long-term shareholder value."

On September 24, 2013, LifeVantage Corporation (the "Company") filed its Tender Offer Statement in connection with the Company's offer to purchase for cash up to $40 million of shares of its common stock. D.A. Davidson & Co. is the dealer manager for the tender offer. Georgeson Inc. serves as information agent for the tender offer and Computershare serves as depository for the tender offer. Shareholders who have questions or need assistance regarding the tender offer should call Georgeson Inc. toll-free at 866‑482-4931.

Tender Offer Statement

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 has made available to its shareholders. Shareholders should read those materials and the documents incorporated therein by reference carefully because they 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.

Forward Looking Statements

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as "believe," "hopes," "intends," "estimates," "expects," "projects," "plans," "anticipates," "look forward to" and variations thereof, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Examples of forward-looking statements in this press release include, but are not limited to, statements about LifeVantage's plans relating to the tender offer and the impact the tender offer will have on the Company's long-term shareholder value. Such forward-looking statements are not guarantees of performance and LifeVantage's actual results could differ materially from those contained in such statements. These forward-looking statements are based on LifeVantage's current expectations and beliefs concerning future events affecting LifeVantage and involve known and unknown risks and uncertainties that may cause LifeVantage's actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties include, among others, the Company's inability to successfully expand its operations; the Company's inability to conform to government regulations in existing markets; the Company may not succeed in growing existing markets or opening new international markets; the Company may be unable to effectively manage its growth; the Company may experience disruptions in its information technology systems; the Company may become subject to claims as a result of its independent distributors failing to comply with its policies and procedures; if the Company introduces new products, those new products may not gain distributor or market acceptance; the Company may be adversely affected by international trade or foreign exchange restrictions, increased tariffs, foreign currency exchange; global economic conditions could deteriorate and affect the Company; the Company's significant dependence on a single product may adversely affect the Company; the Company may be unable to obtain high quality raw materials for its products; the Company may be unable to retain independent distributors or to attract new independent distributors on an ongoing basis; the Company may become subject to a product recall; the Company's dependence on third party manufacturers; the Company's network marketing activities are heavily regulated and may become the subject of actions from third parties and governmental agencies; the Company's direct selling program could be found to not be in compliance with current or newly adopted laws or regulations; the Company may become subject to unfavorable publicity; the Company may become involved in expensive and time consuming legal proceedings; the Company may become subject to an investigation or enforcement action by the federal trade commission; the Company may lose key personnel; and the Company's inability to protects its intellectual property. These and other risk factors are discussed in greater detail in LifeVantage's Annual Report on Form 10-K under the caption "Risk Factors," and in other documents filed by LifeVantage from time to time with the SEC. LifeVantage cautions investors not to place undue reliance on the forward-looking statements contained in this document. All forward-looking statements are based on information currently available to LifeVantage on the date hereof, and LifeVantage undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this document, except as required by law.

CONTACT: Investor Relations Contact: Cindy England (801) 432-9036 Director of Investor Relations -or- John Mills (310) 954-1105 Senior Managing Director, ICR, LLC

Source:LifeVantage Corporation