H.I.G. Capital Affiliates Launch $8.00 Per Share Cash Tender Offer for All Outstanding Shares of Matrixx Initiatives, Inc.

Matrixx Initiatives, Inc. (Nasdaq: MTXX) and H.I.G. Capital, LLC today announced that Wonder Holdings, Inc. and Wonder Holdings Acquisition Corp., both affiliates of H.I.G. Capital, LLC formed for the purpose of acquiring Matrixx, have commenced a tender offer to acquire all of the outstanding shares of the Company's common stock for $8.00 per share in cash in accordance with the previously announced Agreement and Plan of Merger, dated as of December 14, 2010, entered into by Wonder Holdings Acquisition, Wonder Holdings and Matrixx. The aggregate value of the proposed transaction is approximately $75.2 million.