NovaBay Pharmaceuticals Closes $15.0 Million Private Placement
November 03 2021 - 6:50AM
Business Wire
Private Placement allows Company to close on
DERMAdoctor acquisition this week
NovaBay® Pharmaceuticals, Inc. (NYSE American: NBY) (“NovaBay”
or the “Company”) announces the closing of a previously announced
private placement for gross proceeds of $15.0 million and also
announces it expects to complete the acquisition of DERMAdoctor,
LLC on November 5, 2021.
“Just over a month ago we announced plans to acquire
DERMAdoctor, a profitable private company with a successful track
record of launching popular over-the-counter dermatological
products. Today I am pleased to announce that we have closed the
financing that will allow us to complete this transaction,” said
Justin Hall, NovaBay CEO.
“After finalizing the DERMAdoctor acquisition later this week,
we will immediately begin executing on our strategic plan to launch
new products. Our diversification into the skincare market will be
transformational for us, as we combine DERMAdoctor’s expertise,
revenue, and product pipeline with ours,” he added. “Stay tuned as
I plan to provide more details on our expanded company in a letter
to shareholders in the coming weeks.”
About NovaBay Pharmaceuticals, Inc.
NovaBay Pharmaceuticals, Inc. is a pharmaceutical company
focusing on high-quality, differentiated, anti-infective consumer
products: Avenova®, the premier antimicrobial lid and lash spray,
CelleRx® Clinical Reset, a breakthrough product in the beauty
category, and NeutroPhase® Skin and Wound Cleanser for wound
healing. NovaBay’s products are formulated with its patented, pure,
stable, pharmaceutical grade hypochlorous acid that replicates the
antimicrobial chemicals used by white blood cells to fight
infection. NovaBay’s hypochlorous acid products do not cause
stinging or irritation, are nontoxic and non-sensitizing, making
them completely safe for regular use. Avenova is the only
commercial hypochlorous acid lid and lash spray product clinically
proven to reduce bacterial load on ocular skin surfaces, thus
effectively addressing the underlying cause of bacterial dry
eye.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, including statements
about the commercial progress and future financial performance of
NovaBay, the private placement of Series B Preferred Stock and the
Warrants (“Private Placement”), as well as the transaction to
acquire DERMAdoctor (the “Transaction”). This release contains
forward-looking statements that are based upon management’s current
expectations, assumptions, estimates, projections and beliefs.
These statements include, but are not limited to, statements
regarding our current product offerings and marketing efforts, the
financial and business impact and effect of the proposed
Transaction, the expected completion of and impact of the Private
Placement, our partnerships, and any future revenue that may result
from selling our products, as well as generally NovaBay’s expected
future financial results. These statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results or achievements to be materially different and
adverse from those expressed in or implied by these forward-looking
statements. Other risks relating to NovaBay’s business, including
risks that could cause results to differ materially from those
projected in the forward-looking statements in this press release,
are detailed in NovaBay’s latest Form 10-Q, Form 10-K and/or 8-K
filings with the Securities and Exchange Commission, especially
under the heading “Risk Factors.” The forward-looking statements in
this release speak only as of this date, and NovaBay disclaims any
intent or obligation to revise or update publicly any
forward-looking statement except as required by law.
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Avenova Purchasing
Information For NovaBay Avenova purchasing information:
Please call 800-890-0329 or email sales@avenova.com.
Avenova.com
CelleRx Clinical Reset Purchasing
Information For NovaBay CelleRx Clinical Reset
purchasing information Please call 877-CELLERX www.CelleRx.com
NovaBay Contact Justin Hall
Chief Executive Officer and General Counsel 510-899-8800
jhall@novabay.com
NovaBay Investor Contact LHA
Investor Relations Jody Cain 310-691-7100 jcain@lhai.com
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