# NovaBay Pharmaceuticals Considers Acquisition Offer in Recent SEC Filing

NovaBay Pharmaceuticals, Inc., a Delaware-based company listed on the NYSE American under the symbol NBY, has been in the spotlight recently due to an unsolicited acquisition proposal. According to a recent 8-K filing dated October 29, 2024, NovaBay Pharmaceuticals announced that Refresh Acquisitions BidCo LLC has put forward an unsolicited and non-binding acquisition proposal for the purchase of the Avenova Assets. This proposal has been deemed a “Superior Proposal” by NovaBay’s Board of Directors, leading to a crucial decision-making process.

The unsolicited offer from Refresh includes a base purchase price of $11.5 million, which is notably higher than the $9.5 million stipulated in the previous Asset Purchase Agreement (PRN APA) with PRN Physician Recommended Nutriceuticals, LLC. In addition to the purchase price, Refresh is also offering a secured term loan of $2.0 million to NovaBay Pharmaceuticals, complemented by an interest rate of 10.0% per annum.

Despite the attractiveness of the Refresh Unsolicited Offer, the PRN APA remains effective as NovaBay Pharmaceuticals navigates through this critical juncture. The Board of Directors has not altered its stance or recommendation regarding the pending PRN Transaction detailed in the Special Meeting Proxy Statement. The company’s strategic moves are aligned with facilitating a thorough review period by PRN and allowing room for a potential counteroffer.

As a part of the regulatory disclosure, NovaBay Pharmaceuticals attached a press release to the filing, offering additional insight into the situation. The Board’s decision-making process and the potential impact of this acquisition proposal have garnered attention within the financial landscape.

In light of these recent developments, investors and stakeholders are closely monitoring NovaBay Pharmaceuticals’ response to the Refresh Unsolicited Offer and its implications on the broader strategic direction of the company.

For further updates and detailed information, interested parties are encouraged to review the complete filing on the Securities and Exchange Commission’s website or visit NovaBay Pharmaceuticals’ investors’ relations website for more insights into this unfolding situation.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read NovaBay Pharmaceuticals’s 8K filing here.

About NovaBay Pharmaceuticals

NovaBay Pharmaceuticals, Inc develops and sells eyecare and wound care products in the United States and internationally. It offers Avenova Spray, a solution for removing foreign materials, including microorganisms and debris from skin around the eye, such as the eyelid; Avenova Eye Health Support antioxidant-rich oral supplements; Avenova Lubricating Eye Drops for instant relief; NovaWipes by Avenova; Avenova WarmEye Compress to soothe the eyes; and the i-Chek by Avenova to monitor physical eyelid health.