<SEC-DOCUMENT>0001437749-24-035432.txt : 20241115
<SEC-HEADER>0001437749-24-035432.hdr.sgml : 20241115
<ACCEPTANCE-DATETIME>20241115081030
ACCESSION NUMBER:		0001437749-24-035432
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20241115
DATE AS OF CHANGE:		20241115

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NovaBay Pharmaceuticals, Inc.
		CENTRAL INDEX KEY:			0001389545
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		IRS NUMBER:				680454536
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33678
		FILM NUMBER:		241465905

	BUSINESS ADDRESS:	
		STREET 1:		2000 POWELL STREET, SUITE 1150
		CITY:			EMERYVILLE
		STATE:			CA
		ZIP:			94608
		BUSINESS PHONE:		(510) 899-8800

	MAIL ADDRESS:	
		STREET 1:		2000 POWELL STREET, SUITE 1150
		CITY:			EMERYVILLE
		STATE:			CA
		ZIP:			94608
</SEC-HEADER>
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<TYPE>DEFA14A
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<FILENAME>nby20241114_defa14a.htm
<DESCRIPTION>FORM DEFA14A
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>UNITED STATES</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Washington, D.C. 20549</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>SCHEDULE 14A</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Proxy Statement Pursuant to Section 14(a) of</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>the Securities Exchange Act of 1934 </b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>(Amendment No. )</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Check the appropriate box:</p>

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			<td style="text-align: center;">(Name of Registrant as Specified in Its Charter)</td>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Payment of Filing Fee (Check the appropriate box):</p>

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			<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11</p>
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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;"><b>Prominent Independent Proxy Advisory Firm ISS Supports NovaBay Pharmaceuticals</b>&#8217;<b> Proposals to Authorize the Sale of its Avenova Brand</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><i>NovaBay urges stockholders to vote</i> <b>FOR</b><i> all proxy proposals at the Special Meeting of Stockholders</i></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>EMERYVILLE, Calif. (November 15, 2024)</b> &#8211; <u>NovaBay</u><u>&#174;</u><u> Pharmaceuticals, Inc</u>. (NYSE American: NBY) (&#8220;NovaBay&#8221; or the &#8220;Company&#8221;) announces that the largest institutional advisory firm, Institutional Shareholder Services (ISS), has recommended that NovaBay stockholders vote in favor of all of the Company&#8217;s proxy proposals, specifically to authorize and approve the sale of its eyecare business (the &#8220;Asset Sale Proposal&#8221;) and approve the voluntary liquidation and dissolution of the Company (the &#8220;Dissolution Proposal&#8221;). Proposal One (the Asset Sale Proposal) and Proposal Two (the Dissolution Proposal) are further described in the <u>Definitive Proxy Statement</u>, filed on October 16, 2024 (the &#8220;Special Meeting Proxy Statement&#8221;), as supplemented including by the Additional Definitive Proxy Soliciting Materials filed on <u>November 6, 2024</u> and <u>November 12, 2024</u>.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The NovaBay Board of Directors unanimously supports the Asset Sale Proposal seeking stockholder approval for the sale of substantially all of the Company's assets, consisting of the Avenova&#174; business, to PRN Physician Recommended Nutriceuticals, LLC (&#8220;PRN&#8221;) for a purchase price of $11.5 million in cash, subject to adjustment, and the Dissolution Proposal seeking stockholder approval for the Plan of Complete Liquidation and Dissolution of the Company in which the Company will wind down operations, settle remaining obligations and distribute any remaining proceeds of the liquidation to stockholders, subject to the discretion of the Company&#8217;s Board of Directors.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">In making its recommendation to NovaBay stockholders to vote &#8220;<b>FOR</b>&#8221; Proposal One (the Asset Sale Proposal) and Proposal Two (the Dissolution Proposal), ISS stated that the &#8220;asset sale appears to be the best available alternative to maximize value for shareholders, the cash form of consideration provides liquidity and certainty of value for NBY shareholders, and there is potential downside risk of non-approval.&#8221; ISS is a global provider of independent and objective shareholder meeting research for institutional investors. More than 2,000 clients worldwide utilize ISS Governance&#8217;s actionable expertise to help them make informed investment stewardship decisions, and to help them manage their voting responsibilities.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Voting on the proposals will be open through the conclusion of NovaBay&#8217;s virtual Special Meeting of Stockholders (the &#8220;Special Meeting&#8221;), which will convene on November 22, 2024 at 11:00 a.m. Pacific time. NovaBay stockholders as of October 15, 2024, the record date for the Special Meeting, are invited to attend the virtual Special Meeting by registering here.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">If stockholders have questions or need help voting their shares, please call NovaBay&#8217;s proxy solicitation firm, Sodali &amp; Co., at 1-800-607-0088 from 9:00 a.m.-9:00 p.m. Eastern time Monday through Friday or by e-mailing them at nby.info@investor.sodali.com.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>About NovaBay Pharmaceuticals, Inc.</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">NovaBay&#8217;s leading product Avenova&#174; Lid &amp; Lash Cleansing Spray is often recommended by eyecare professionals for blepharitis and dry eye disease. Manufactured in the U.S., Avenova spray is formulated with NovaBay&#8217;s patented, proprietary, stable and pure form of hypochlorous acid. All Avenova products are available directly to consumers through online distribution channels such as Amazon.com and Avenova.com.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Forward-Looking Statements</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">This release contains forward-looking statements within the meaning of the &#8220;safe harbor&#8221; provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These forward-looking statements are based upon the Company and its management&#8217;s current expectations, assumptions, estimates, projections and beliefs. Such statements include, but are not limited to, statements regarding the contemplated transaction with PRN (including the Asset Purchase Agreement, by and between PRN and the Company, dated as of September 19, 2024 and as amended on November 5, 2024), the potential liquidation and dissolution of the Company and related matters. 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, these forward-looking statements. Other risks relating to NovaBay&#8217;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 the Company&#8217;s latest Form 10-K, subsequent Forms 10-Q and/or Form 8-K filings with the SEC and the Special Meeting Proxy Statement, as supplemented including by the Supplement to the Special Meeting Proxy Statement dated as of November 12, 2024, especially under the heading &#8220;Risk Factors.&#8221; The forward-looking statements in this release speak only as of this date, and the Company disclaims any intent or obligation to revise or update publicly any forward-looking statement except as required by law.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Additional Information and Where to Find It</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">In connection with the solicitation of proxies, on October 16, 2024, NovaBay filed the Special Meeting Proxy Statement with the SEC with respect to the Special Meeting to be held in connection with the proposed asset sale to PRN and a potential voluntary liquidation and dissolution of the Company. Promptly after filing the Special Meeting Proxy Statement with the SEC, NovaBay mailed the Special Meeting Proxy Statement and a proxy card to each stockholder entitled to vote at the Special Meeting to consider the contemplated asset sale to PRN and potential dissolution. Subsequently, the Company filed a Supplement to the Special Meeting Proxy Statement on November 12, 2024. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT NOVABAY HAS FILED OR WILL FILE WITH THE SEC BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain, free of charge, the Special Meeting Proxy Statement, any amendments or supplements thereto, and any other relevant documents filed by NovaBay with the SEC in connection with the contemplated asset sale to PRN and potential dissolution at the SEC's website (http://www.sec.gov) or at the Company&#8217;s investor relations website https://novabay.com/investors/) or by writing to NovaBay Pharmaceuticals, Inc., Investor Relations, 2000 Powell Street, Suite 1150, Emeryville, CA 94608. The information provided on, or accessible through, our website is not part of this communication, and therefore is not incorporated herein by reference.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Participants in the Solicitation</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">NovaBay and its directors and executive officers may be deemed to be participants in the solicitation of proxies from NovaBay&#8217;s stockholders in connection with the contemplated asset sale to PRN and the potential dissolution. A list of the names of the directors and executive officers of the Company and information regarding their interests in the contemplated asset sale to PRN and the potential dissolution, including their respective ownership of the Company&#8217;s common stock and other securities is contained in the Special Meeting Proxy Statement. In addition, information about the Company&#8217;s directors and executive officers and their ownership in the Company is set forth in the Company&#8217;s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and filed with the SEC on March 26, 2024, as amended on March 29, 2024 and as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b><u>Socialize and Stay Informed on NovaBay</u></b><u>&#8217;</u><b><u>s Progress </u></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Connect with NovaBay on <u>LinkedIn</u></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Visit NovaBay&#8217;s <u>Website</u></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b><u>Avenova Purchasing Information </u></b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">For NovaBay Avenova purchasing information:</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Please call 800-890-0329 or email sales@avenova.com</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><u>Avenova.com</u></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b><u>NovaBay Contact </u></b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Justin Hall</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Chief Executive Officer and General Counsel</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">510-899-8800</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><u>jhall@novabay.com</u></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b><u>Investor Contact </u></b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Alliance Advisors IR</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Jody Cain</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">310-691-7100</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><u>jcain@allianceadvisors.com</u></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"># # #</p>

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