Contact Information: Contact Person: Thomas J. Paulson Chief Financial Officer NovaBay Pharmaceuticals 5980 Horton Street Suite 550 Emeryville, CA 94608 O: (510) 899-8809 F: (510) 280-9310
NovaBay Pharmaceuticals Announces the Closing of Its $2.45 Million Registered Direct Offering of Common Stock and Warrants
| Source: NovaBay Pharmaceuticals
EMERYVILLE, CA--(Marketwire - August 26, 2009) - NovaBay® Pharmaceuticals, Inc. (NYSE Amex : NBY ) announced today that it has closed its previously announced registered
direct offering of 1,225,000 units, with each unit consisting of (i) one
share of the NovaBay common stock, par value $0.01 per share, and (ii) one
warrant to purchase one share of NovaBay common stock. The purchase price
for each unit was $2.00. Each warrant has an exercise price of $2.75,
which will be exercisable 180 days after issuance and will expire five
years from the date of issuance. The units will not be issued or
certificated and neither the units nor warrants will trade on any exchange
or be listed for quotation on any market. Maxim Group LLC served as
placement agent for the offering.
The units were offered by NovaBay pursuant to a registration statement
previously filed and declared effective by the Securities and Exchange
Commission.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under the
securities laws of any such state. The securities may be offered only by
means of a prospectus. Copies of the final prospectus supplement and
accompanying base prospectus relating to this offering may be obtained at
the SEC's website at http://www.sec.gov or from the offices of Maxim Group
LLC, 405 Lexington Avenue, New York, New York 10174, Attn: Prospectus
Department, (212) 895-3685.
About NovaBay
NovaBay Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company
focused on developing its proprietary and patented Aganocide® compounds,
which are novel, synthetic anti-infective product candidates that are
bioequivalent to the active antimicrobial molecules generated within white
blood cells to treat and prevent a wide range of infections without causing
bacterial resistance. NovaBay has internal development programs aimed at
addressing hospital and respiratory infections. The company has a licensing
and research collaboration agreement with Alcon, Inc. for use of its
Aganocide® compounds to treat eye, ear and sinus infections as well as in
contact lens care solutions. NovaBay also has entered into an agreement
with Galderma S.A. to develop and commercialize Aganocides in acne,
impetigo and other dermatological indications. NovaBay® and Aganocide®
are trademarks of NovaBay Pharmaceuticals, Inc.