NovaBay Pharmaceuticals will conduct $2.83 million placement of stock

Company arranges sale of 1,518,567 common shares with three investors

By Devika Patel

Knoxville, Tenn., Feb. 17 – NovaBay Pharmaceuticals, Inc. negotiated a $2.83 million private placement of stock on Feb. 16, according to an 8-K filed Wednesday with the Securities and Exchange Commission. China Kington Asset Management Co. Ltd. is the agent for $2.59 million of the deal.

The company will sell 1,518,567 common shares. Of the shares, 696,590 will be sold to Jian Ping Fu at $1.8145 per share and 821,977 will be sold to Pioneer Pharma (Singapore) Pte. Ltd. and Mark M. Sieczkarek at $1.91 per share. The prices per share are a 5% discount and identical to the Feb. 16 closing share price of $1.91.

Pioneer Pharma (Singapore) will buy 696,590 shares for $1,330,487 and Mark M. Sieczkarek will buy 125,387 shares for $239,489. Jian Ping Fu is investing $1,263,963.

Settlement is expected Feb. 19.

NovaBay Pharmaceuticals is a clinical-stage biopharmaceutical company based in Emeryville, Calif.

Issuer:	NovaBay Pharmaceuticals, Inc.
Issue:	Common stock
Amount:	$2,833,939
Shares:	1,518,567
Price:	$1.8145 (for 696,590 shares), $1.91 (for 821,977 shares)
Warrants:	No
Agents:	China Kington Asset Management Co. Ltd. (for $2,594,450)
Investors:	Pioneer Pharma (Singapore) Pte. Ltd. (for $1,330,487), Mark M. Sieczkarek (for $239,489), Jian Ping Fu (for $1,263,963)
Pricing date:	Feb. 16
Settlement date:	Feb. 19
Stock symbol:	NYSE: NBY
Stock price:	$2.01 at close Feb. 12
Market capitalization:	$6.27 million

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