Units of shares and warrants sold at $1.25 apiece to Pioneer Pharma
By Devika Patel
Knoxville, Tenn., Nov. 5 - NovaBay Pharmaceuticals, Inc. completed a $2.5 million private placement of units with Pioneer Pharma (Singapore) Pte Ltd. on Sept. 13, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 2 million units of one common share and one warrant at $1.25 per unit.
Each of the warrants is exercisable at $1.50 until Aug. 31, 2013. The strike price is a 1.35% premium to $1.48, the Sept. 12 closing share price.
NovaBay is an Emeryville, Calif.-based company that develops biotechnology used for dermatology, ophthalmology, urology and hospital infections.
| Issuer: | NovaBay Pharmaceuticals, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $2.5 million
|
| Units: | 2 million
|
| Price: | $1.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Aug. 31, 2013
|
| Warrant strike price: | $1.50
|
| Investor: | Pioneer Pharma (Singapore) Pte Ltd.
|
| Settlement date: | Sept. 13
|
| Stock symbol: | NYSE: NBY
|
| Stock price: | $1.48 at close Sept. 12
|
| Market capitalization: | $37.78 million
|
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