Matrixx Initiatives To Be Acquired by H.I.G. Capital for $8.00 per Share

Matrixx Initiatives, Inc. MTXX today announced that it has entered into a definitive merger agreement to be acquired by investment funds managed by H.I.G. Capital, LLC. Under the terms of the merger agreement, affiliates of H.I.G. will commence a tender offer to purchase for cash all of the outstanding shares of Matrixx common stock, and the associated preferred stock purchase rights, at a price of $8.00 per share, which represents a 56.3% premium to the Company's closing stock price on December 13, 2010, the last full trading day before today's announcement, for a total value of approximately $75.2 million.