If I get this right, and it’s tricky as I said reading through the article, and we are just now pulling the lawsuits and filing, here is what I see on the surface.
1. In 2010 two transactions took place (not sure of which came first at this point); major stockholders sold their stock valued at that time at $186 million to the EMPLOYEE ESOP secured by a high-yield (article called it an “exorbitant interest rate), and during this same year, MonaVie executives sought out financing for $182 million from TSG-MV Financing LLC, securing “virtually all the assets” of MonaVie.
I got word on this potential acquisition last week and agreed to a NDA so I could learn more. Although at the time I had my conversations with parties involved including Wendy Lewis, it was not sure if the sale would go through.
I was excited when I got word the sale was final and the reps at MonaVie and MYNT would once again have all the funding they need to continue their growth in the field as well as product development.
I have been very vocal on issues I have seen at Jeunesse lately, (see our other editorials), but without a doubt this is a positive for the reps in the field.
My close friends Travis and Summer Flaherty have been building a very successful team at MYNT over the last six to nine months and helped the company break the $1 million in monthly sales just a couple of months ago.
With MonaVia international footprint, Jeunesses deep financial commitment, and MYNT’s fresh young sales force, I think this is a win for everyone!
Below is the official Press Release from Jeunesse Global!