NBY - NovaBay Pharma enters into agreements for private placement and warrant reprice transactions to raise up to $5.3M

• NovaBay Pharma ( NYSE: NBY ) said on Friday it had entered into a securities purchase agreement with certain institutional investors for a private placement of 3,250 shares of a newly created Series C Non-Voting Convertible Preferred Stock at a price of $1,000 per share.
• The Company expects to receive gross proceeds from the private placement of approximately $3.25M.
• The Series A-1 and A-2 warrants were exercisable to purchase up to an aggregate of 18.06M shares of company common stock at an exercise price of $0.18 per share.
• The private placement is expected to close in the fourth quarter.
• The exercise price for the Warrants and the number of shares of Company common stock underlying the Warrants will be adjusted to reflect the Reverse Stock Split, the company said.
• • NovaBay intends to use the net proceeds received from the offering for working capital and general corporate purposes.

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