NovaBay Pharmaceuticals, Inc. (NYSE American: NBY) (the
“Company” or “NovaBay”) today announced the closing of its
previously announced underwritten public offering of common stock,
pre-funded warrants, Series F-1 warrants, Series F-2 warrants and
Series F-3 warrants for gross proceeds of approximately $3.87
million, prior to deducting underwriting discounts and commissions
and offering expenses. The offering proceeds include partial
exercise of the underwriter’s over-allotment option to purchase
additional shares of common stock, Series F-1 warrants, Series F-2
warrants and Series F-3 warrants.
The offering consisted of a total of 1,158,566 shares of common
stock, pre-funded warrants to purchase up to 2,041,814 shares of
common stock, Series F-1 warrants to purchase up to 3,200,380
shares of common stock, Series F-2 warrants to purchase up to
3,200,380 shares of common stock and Series F-3 warrants to
purchase up to 3,200,380 shares of common stock. The combined
public offering price for each share of common stock and
accompanying Series F-1 warrant, Series F-2 warrant and Series F-3
warrant was $1.10. The combined public offering price for each
pre-funded warrant and accompanying Series F-1 warrant, Series F-2
warrant and Series F-3 warrant was $1.09. The securities issued at
closing included 1,495,398 shares of common stock, pre-funded
warrants to purchase up to 2,041,814 shares of common stock, Series
F-1 warrants to purchase up to 3,537,212 shares of common stock,
Series F-2 warrants to purchase up to 3,537,212 shares of common
stock and Series F-3 warrants to purchase up to 3,537,212 shares of
common stock, which securities were issued upon the partial
exercise of the underwriter’s over-allotment option.
Ladenburg Thalmann & Co. Inc. acted as the sole bookrunning
manager for the offering.
Each share of common stock (and each pre-funded warrant in lieu
thereof) was sold together with one Series F-1 warrant to purchase
one share of common stock, one Series F-2 warrant to purchase one
share of common stock and one Series F-3 warrant to purchase one
share of common stock. The Series F-1 warrants have an exercise
price of $1.10 per share, are exercisable immediately upon
issuance, and will expire five years following the date of
issuance. The Series F-2 warrants have an exercise price of $1.10
per share, are exercisable immediately upon issuance, and will
expire six months following the date of issuance. The Series F-3
warrants have an exercise price of $1.10 per share, are exercisable
immediately upon issuance, and will expire one year following the
date of issuance. The pre-funded warrants will be immediately
exercisable at a nominal exercise price of $0.01 per share and may
be exercised at any time until all of the pre-funded warrants are
exercised in full. The Series F-1 warrants, the Series F-2 warrants
and the Series F-3 warrants each include a one-time reset of the
exercise price to a price equal to the lesser of (i) the then
exercise price and (ii) 90% of the five-day volume weighted average
prices for the five (5) trading days immediately preceding the date
that is sixty calendar days after issuance of the Series F-1
warrants, the Series F-2 warrants and the Series F-3 warrants, as
applicable.
NovaBay currently intends to use the net proceeds of the
offering to redeem the outstanding principal amount of its Original
Discount Senior Secured Convertible Debentures due November 1, 2024
and for working capital and general corporate purposes.
The offering is being conducted pursuant to NovaBay’s
registration statement on Form S-1 (File No. 333-280423) previously
filed with and subsequently declared effective by the Securities
and Exchange Commission (the “SEC”) on July 25, 2024 (as amended,
the “registration statement”). A final prospectus describing the
terms of the offering has been filed with the SEC and is available
on the SEC’s website located at http://www.sec.gov. Electronic
copies of the final prospectus relating to the offering may also be
obtained by contacting Ladenburg Thalmann & Co. Inc.,
Prospectus Department, 640 5th Avenue, 4th Floor, New York, NY
10019 (telephone number 1-800-573-2541) or by emailing
prospectus@ladenburg.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, 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 such state or jurisdiction.
About NovaBay Pharmaceuticals, Inc.
NovaBay's leading product Avenova® Antimicrobial Lid & Lash
Solution is often recommended by eyecare professionals for
blepharitis and dry eye disease. Manufactured in the U.S., Avenova
spray is formulated with NovaBay's patented, proprietary, stable
and pure form of hypochlorous acid. All Avenova products are
available directly to consumers through online distribution
channels such as Amazon.com and Avenova.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including, but not limited to, statements that are based
upon management's current expectations, assumptions, estimates,
projections and beliefs. The use of words such as, but not limited
to, “anticipate,” “believe,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,”
“project,” “preliminary,” “should,” “target,” “will,” or “would”
and similar words or expressions are intended to identify
forward-looking statements. These statements include, but are not
limited to, statements regarding the intended use of net proceeds
from the offering. These statements are based on information
available to the Company as of the date of this press release and
are subject to numerous important factors that involve risks,
uncertainties and other factors that may cause actual results or
achievements to be materially different and adverse from those
expressed in or implied by the forward-looking statements. New
risks and uncertainties may emerge from time to time, and it is not
possible to predict all risks and uncertainties. Other risks
relating to the Company’s business, including risks that could
cause results to differ materially from those projected in the
forward-looking statements in this press release, are detailed in
the Company’s latest Form 10-Q/K filings and registration
statement, as may be amended from time to time, filing with the
SEC, especially under the heading “Risk Factors.” The
forward-looking statements in this release speak only as of this
date, and the Company disclaims any intent or obligation to revise
or update publicly any forward-looking statement except as required
by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240729681860/en/
NovaBay Justin Hall Chief
Executive Officer and General Counsel 510-899-8800
jhall@novabay.com Investor Relations
Contact LHA Investor Relations Jody Cain 310-691-7100
jcain@lhai.com
NovaBay Pharmaceuticals (AMEX:NBY)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
NovaBay Pharmaceuticals (AMEX:NBY)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024
