NovaBay Pharmaceuticals regains compliance with NYSE American listing standards after raising over $8 million in equity.
Quiver AI Summary
NovaBay Pharmaceuticals, Inc. has announced that it has regained compliance with the NYSE American's continued listing standards after previously being notified of non-compliance due to insufficient stockholders' equity. Following the issuance of pre-funded warrants and non-voting convertible preferred stock, which collectively raised approximately $8.15 million, the company now meets the required stockholders' equity threshold of $6 million. The NYSE American confirmed NovaBay's compliance in a letter dated October 20, 2025. NovaBay, which focuses on developing eyecare, wound care, and skin care products, includes forward-looking statements in its release regarding its listing status and future financial expectations, acknowledging potential risks that may impact these projections.
Potential Positives
- NovaBay Pharmaceuticals has regained compliance with the NYSE American's continued listing standards, ensuring its status as a publicly traded company.
- The company successfully raised approximately $8.15 million through the issuance of pre-funded warrants and preferred stock, boosting its stockholders' equity above the required minimum.
- Formal notification from NYSE American confirms resolution of previous deficiencies, which enhances investor confidence and stability.
Potential Negatives
- The press release highlights the company's previous non-compliance with NYSE American's continued listing standards, indicating financial instability or challenges that could negatively impact investor confidence.
- Despite regaining compliance, the need for recent financial maneuvers to achieve this (such as selling shares and preferred stock) suggests potential ongoing struggles with maintaining adequate capital.
- The forward-looking statements include numerous risks and uncertainties, potentially signaling vulnerability in future performance or compliance, which could deter potential investors.
FAQ
What recent compliance achievement did NovaBay Pharmaceuticals announce?
NovaBay announced it has regained compliance with the NYSE American’s continued listing standards.
When was NovaBay notified of its non-compliance with NYSE standards?
NovaBay was notified of non-compliance on April 18, 2024, and May 28, 2024.
How much stockholder equity does NovaBay currently have?
NovaBay believes it has stockholders’ equity in excess of the $6 million minimum requirement.
What financial actions did NovaBay take to regain compliance?
NovaBay issued pre-funded warrants and Series E preferred stock, raising approximately $8.15 million.
Where can I find more information about NovaBay’s forward-looking statements?
More information can be found in NovaBay’s latest Form 10-Q/K filings with the SEC.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
EMERYVILLE, Calif., Oct. 20, 2025 (GLOBE NEWSWIRE) -- NovaBay Pharmaceuticals, Inc. (NYSE American: NBY) ("NovaBay" or the "Company") announces that it has regained compliance with the NYSE American’s continued listing standards.
As previously disclosed, the NYSE American notified the Company on April 18, 2024 and May 28, 2024 that it was not in compliance with the continued listing standards of the NYSE American Company Guide. Specifically, the notifications indicated that the Company was not in compliance with Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the Company guide, requiring a listed company to have stockholders' equity of at least $6 million.
Following the issuance and sale of pre-funded warrants to purchase an aggregate of 5,405,406 shares of the Company’s common stock, par value $0.01 per share to certain investors for aggregate net proceeds of approximately $6.0 million and the issuance and sale an aggregate of 268,750 shares of Series E non-voting convertible preferred stock, par value $0.01 per share for aggregate net proceeds of approximately $2.15 million, the Company believes it currently has stockholders’ equity in excess of the $6 million minimum requirement.
The NYSE American formally notified NovaBay in a letter dated October 20, 2025, confirming that the Company had successfully addressed and resolved all deficiencies related to Sections 1003(a)(i), (ii), and (iii) of the NYSE American Company Guide.
About NovaBay Pharmaceuticals, Inc.:
NovaBay Pharmaceuticals has been historically focused on the development and sale of scientifically created and clinically proven eyecare, wound care, and skin care products.
Forward-Looking Statements
This release contains forward-looking statements that are based upon management’s current expectations, assumptions, estimates, projections and beliefs. These statements include, but are not limited to, statements regarding our NYSE American listing status, our future momentum and generally the Company’s expected future financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or achievements to be materially different and adverse from those expressed in or implied by the forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, risks and uncertainties relating to NYSE American’s formal review and confirmation that we have regained compliance with NYSE American’s listing standards and our ability to remain a publicly listed company by complying with all NYSE American listing standards including maintaining the minimum stockholder’ equity in the future. Other risks relating to NovaBay’s business, including risks that could cause results to differ materially from those projected in the forward-looking statements in this press release, are detailed in NovaBay’s latest Form 10-Q/K filings with the Securities and Exchange Commission, especially under the heading “Risk Factors.” The forward-looking statements in this release speak only as of this date, and NovaBay disclaims any intent or obligation to revise or update publicly any forward-looking statement except as required by law.
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NovaBay Contact:
Tommy Law
Chief Financial Officer
[email protected]
