EMERYVILLE, Calif., March 20, 2014 (GLOBE NEWSWIRE) -- NovaBay® Pharmaceuticals, Inc. (NYSE MKT:NBY), a clinical-stage biopharmaceutical company developing topical non-antibiotic antimicrobial products, today announced that it has priced an underwritten public offering of an aggregate of 5,600,000 shares of its Common Stock, and 18-month warrants to purchase up to an aggregate of 1,400,000 shares of Common Stock at a combined price to the public of $1.20 for aggregate gross proceeds of $6,720,000. The shares of common stock and warrants will be issued separately. The warrants are exercisable immediately upon issuance, have an 18-month term and an exercise price of $1.56 per share. The warrants will be certificated, and will be delivered to the investors by physical delivery following the closing. There is no established public trading market for the warrants and NovaBay does not expect a market to develop in the future. The offering is expected to close on or about March 25, 2014, subject to customary closing conditions.
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