By Devika Patel
Knoxville, Tenn., Aug. 21 - NovaBay Pharmaceuticals, Inc. said it arranged a $2.45 million registered direct offering of stock.
The company will sell 1,225,000 common shares at $2.00 apiece. Investors also will receive warrants for 1,225,000 shares, which are exercisable at $2.75 for five years.
Settlement is expected on Aug. 26.
Maxim Group LLC is the agent.
Proceeds will be used for general corporate purposes.
The clinical-stage biopharmaceutical company is based in Emeryville, Calif.
| Issuer: | NovaBay Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $2.45 million
|
| Shares: | 1,225,000
|
| Price: | $2.00
|
| Warrants: | For 1,225,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.75
|
| Agent: | Maxim Group LLC
|
| Pricing date: | Aug. 21
|
| Settlement date: | Aug. 26
|
| Stock symbol: | Amex: NBY
|
| Stock price: | $2.10 at close Aug. 20
|
| Market capitalization: | $41.8 million
|
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