NBY

NovaBay to Raise $11.8 Mln in Private Placement of Stock, Warrants

NovaBay Pharmaceuticals ( NBY ) said Wednesday that it has entered into a securities purchase agreement for the sale of its stock and warrants in a private placement to accredited investors for $11.8 million.

The sale will be done in two tranches, with the first tranche closing on May 5 for $7.8 million and the second tranche on July 31 for $4 million. Combined, the investors have agreed to purchase 6.2 million units, with each unit consisting of one NBY share and a warrant to purchase one-half NBY share, at a cost per unit of $1.91. The warrants have a four-year validity at an exercise price of $1.91 per share.

Shares were inactive pre-bell, near the low end of the 52-week range of $1.62 - $26.25.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.