Novabay Pharmaceuticals closes its previously announced registered direct offering of common stocks and warrants

NovaBay PharmaceuticalsAug 27 2009

NovaBay® Pharmaceuticals, Inc. (NYSE Amex: NBY) announced today that it has closed its previously announced registered direct offering of 1,225,000 units, with each unit consisting of (i) one share of the NovaBay common stock, par value $0.01 per share, and (ii) one warrant to purchase one share of NovaBay common stock. The purchase price for each unit was $2.00. Each warrant has an exercise price of $2.75, which will be exercisable 180 days after issuance and will expire five years from the date of issuance. The units will not be issued or certificated and neither the units nor warrants will trade on any exchange or be listed for quotation on any market. Maxim Group LLC served as placement agent for the offering.

The units were offered by NovaBay pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission.