NovaBay receives $7M from early warrant exercise
NovaBay announces that during the third quarter it has received $7M from the early exercise of 3,673,462 warrants issued as part of five previously completed financings. NovaBay issued 3,673,462 shares of its common stock for the redeemed warrants. In addition to the $7M received, based upon commitments already received from other warrant holders, NovaBay expects to receive at least another $400,000 from exercises in October. The majority of the warrants exercised were issued with an $11.791M private placement financing completed in two tranches that closed in May 2016 and August 2016. Additional warrants were exercised from private placement financings completed in July 2011, March 2015 and October 2015.