NovaBay to take in $5 million via at-the-market share sales agreement

Sale arranged with Ascendiant Capital; deal funds corporate purposes

By Devika Patel

Knoxville, Tenn., Nov. 14 - NovaBay Pharmaceuticals, Inc. negotiated a $5 million at-the-market sales agreement with agent Ascendiant Capital Markets, LLC, according to a prospectus supplement filed Thursday with the Securities and Exchange Commission.

Ascendiant will be paid a 3% commission.

Proceeds will be used for working capital and general corporate purposes, including research and development, clinical trials and selling, general and administrative expenses.

The clinical-stage biopharmaceutical company is based in Emeryville, Calif.

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