Deal sells 5 million common shares at $1.14 apiece to Pioneer Pharma
By Devika Patel
Knoxville, Tenn., Dec. 2 - NovaBay Pharmaceuticals, Inc. arranged a $5.7 million private placement of stock with Pioneer Pharma (Singapore) Pte. Ltd. on Nov. 25, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company will sell 5 million common shares at $1.14 per share. The price per share reflects a 12.98% discount to the Nov. 22 closing share price of $1.31.
NovaBay Pharmaceuticals is a biotechnology company focused on addressing therapeutic needs of the anti-infective market.
Issuer: | NovaBay Pharmaceuticals, Inc.
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Issue: | Common stock
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Amount: | $5.7 million
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Shares: | 5 million
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Price: | $1.14
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Warrants: | No
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Investor: | Pioneer Pharma (Singapore) Pte. Ltd.
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Settlement date: | Nov. 25
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Stock symbol: | NYSE: NBY
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Stock price: | $1.31 at close Nov. 22
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Market capitalization: | $55.2 million
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