<SEC-DOCUMENT>0001829126-25-007499.txt : 20250918
<SEC-HEADER>0001829126-25-007499.hdr.sgml : 20250918
<ACCEPTANCE-DATETIME>20250918163330
ACCESSION NUMBER:		0001829126-25-007499
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20250918
DATE AS OF CHANGE:		20250918

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NovaBay Pharmaceuticals, Inc.
		CENTRAL INDEX KEY:			0001389545
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				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:		251323884

	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>
<DOCUMENT>
<TYPE>DEFA14A
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<DESCRIPTION>DEFA14A
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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 14pt"><B>FORM 8-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>Pursuant to Section&#160;13 or 15(d)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>of the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>Date of Report (Date of earliest
event reported): September
18, 2025</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 14pt"><B>NovaBay Pharmaceuticals, Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified in its
charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</P>

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    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 32%; text-align: center"><B>001-33678</B></TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; white-space: nowrap; width: 2%; text-align: center"><B>&#160;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 32%; text-align: center"><B>68-0454536</B></TD> </TR>
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>(State or other jurisdiction<BR> of incorporation)</B></P> </TD>
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>(IRS Employer</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>Identification No.)</B></P> </TD> </TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>2000 Powell Street</B><B>, Suite
1150</B><B>, Emeryville</B><B>,
CA</B><B>
94608</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>(Address of principal executive offices and zip code)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>(510)</B><B>
899-8800</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>(Registrant&#8217;s telephone
number, including area code)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0"><B>Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><B>&#160;</B></P>

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    <TD STYLE="vertical-align: top"><B>Written communications pursuant to Rule&#160;425 under the Securities Act (17 CFR 230.425)</B></TD> </TR>
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    <TD STYLE="vertical-align: top"><B>&#160;</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 0.25in"><B>&#9746;</B></TD>
    <TD STYLE="vertical-align: top"><B>Soliciting material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR 240.14a-12)</B></TD> </TR>
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    <TD STYLE="vertical-align: top"><B>&#160;</B></TD>
    <TD STYLE="vertical-align: top"><B>&#160;</B></TD></TR>
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    <TD STYLE="vertical-align: top"><B>Pre-commencement communications pursuant to Rule&#160;14d-2(b) under the Exchange Act (17 CFR
    240.14d-2(b))</B></TD> </TR>
  <TR>
    <TD STYLE="vertical-align: top"><B>&#160;</B></TD>
    <TD STYLE="vertical-align: top"><B>&#160;</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 0.25in"><B>&#9744;</B></TD>
    <TD STYLE="vertical-align: top"><B>Pre-commencement communications pursuant to Rule&#160;13e-4(c) under the Exchange Act (17 CFR
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Securities registered pursuant to Section&#160;12(b) of the Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</P>

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    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 38%; text-align: center"><B>Title of each class</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center; vertical-align: bottom; width: 2%">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 20%; text-align: center"><B>Trading Symbol(s)</B></TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom; width: 38%">
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    <TD STYLE="vertical-align: top; text-align: center">Common Stock, par value $0.01 per share</TD>
    <TD STYLE="text-align: center; vertical-align: top">&#160;</TD>
    <TD STYLE="vertical-align: top; text-align: center">NBY</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule&#160;405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule&#160;12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter). Emerging growth company &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&#160;13(a) of the Exchange Act. &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 7.01 Regulation FD Disclosure.</B>&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">On September 18, 2025, NovaBay&#174;
Pharmaceuticals, Inc. (NYSE American: NBY) (the &#8220;Company&#8221;) announced that, because the payment of the one-time special cash
dividend of $0.80 per share for the Company&#8217;s common stock, which is to be paid on September 29, 2025 to stockholders of record
as of the close of business on September 15, 2025, represents more than 25% of the price of the Company&#8217;s common stock, NYSE American
advised the Company that its common stock will trade with &#8220;due bills&#8221; representing an assignment of the right to receive the
special dividend from the record date of September 15, 2025 through the close of trading on NYSE American on September 29, 2025, which
is the payment date and the last day of trading before the September 30, 2025 ex-dividend date (this period of time representing the &#8220;Dividend
Right Period&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">Stockholders who sell their
common stock during the Dividend Right Period will be selling their right to the special dividend, and such stockholders will not be entitled
to receive the special dividend. Due bills obligate a seller of common stock to deliver the special dividend payable on such common stock
to the buyer (i.e., a dividend right). Due bill obligations are customarily settled between the brokers representing the buyers and the
sellers of shares. The Company has no obligation for either the amount of the due bill or the processing of the due bill. Buyers and sellers
of the Company&#8217;s common stock should consult their brokers before trading to be sure they understand the effect of NYSE American&#8217;s
due bill procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B>Item 9.01. Financial
Statements and Exhibits.</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">(d) <I>Exhibits.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</P>

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    <TD STYLE="padding-bottom: 1pt; width: 1%">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 90%"><FONT STYLE="font-size: 10pt"><B>Exhibit</B></FONT></TD></TR>
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    <TD><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD>&#160;</TD>
    <TD><FONT STYLE="font-size: 10pt"><A HREF="novabay_ex99-1.htm" STYLE="-sec-extract: exhibit">Press release, dated September 18, 2025, from the Company</A> </FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-top: 0; margin-bottom: 0">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</P>

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    <TD><FONT STYLE="font-size: 10pt">Date: September 18, 2025</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>NovaBay&#174; Pharmaceuticals, Inc.</B></FONT></TD></TR>
  <TR>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD></TR>
  <TR>
    <TD>&#160;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">/s/ David Lazar</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 50%">&#160;</TD>
    <TD STYLE="vertical-align: top; width: 4%">&#160;</TD>
    <TD STYLE="vertical-align: top; width: 5%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: top; width: 41%"><FONT STYLE="font-size: 10pt">David Lazar</FONT></TD></TR>
  <TR>
    <TD>&#160;</TD>
    <TD STYLE="vertical-align: top">&#160;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>novabay_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><IMG SRC="ex99-1_001.jpg" ALT="" STYLE="height: 48px; width: 250px">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NovaBay Pharmaceuticals Issues a Reminder of
Important Information Regarding the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pending Special Dividend and Upcoming 2025 Annual Meeting</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>EMERYVILLE, Calif. (September 18, 2025) </B>&ndash;
NovaBay<SUP>&reg;</SUP> Pharmaceuticals, Inc. (NYSE American: NBY) (the &#8220;Company&#8221;) previously announced a one-time special
cash dividend of $0.80 per share for the Company&#8217;s common stock. The special cash dividend will be payable on September 29, 2025
to stockholders of record as of the close of business on September 15, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because the payment of the special dividend represents
more than 25% of the price of the Company&#8217;s common stock, NYSE American advised the Company that its common stock will trade with
&#8220;due bills&#8221; representing an assignment of the right to receive the special dividend from the record date of September 15,
2025 through the close of trading on NYSE American on September 29, 2025, which is the payment date and the last day of trading before
the September 30, 2025 ex-dividend date (this period of time representing the &#8220;Dividend Right Period&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Stockholders who sell their common stock
during the Dividend Right Period will be selling their right to the special dividend, and such stockholders will not be entitled to receive
the special dividend. </I></B>Due bills obligate a seller of common stock to deliver the special dividend payable on such common stock
to the buyer (i.e., a dividend right). Due bill obligations are customarily settled between the brokers representing the buyers and the
sellers of shares. The Company has no obligation for either the amount of the due bill or the processing of the due bill. Buyers and sellers
of the Company&#8217;s common stock should consult their brokers before trading to be sure they understand the effect of NYSE American&#8217;s
due bill procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#8220;I&#8217;d like to assure my fellow stockholders
that the payout of the special dividend will not affect our ability to pursue the various strategic transactions we are currently evaluating.
I look forward to obtaining stockholder approval for the annual meeting and various strategic proposals on the ballot in October and the
ability to start executing on our exciting plans to transform the Company,&#8221; said David Lazar, CEO of the Company. &#8220;I continue
to be extremely optimistic about our future as we explore several high-value strategic alternatives.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company intends to hold its 2025 Annual Meeting
of Stockholders (&#8220;2025 Annual Meeting&#8221;) on October 16, 2025 for stockholders of record on September 22, 2025. The Company
filed a preliminary proxy statement for the 2025 Annual Meeting with the Securities and Exchange Commission (the &#8220;SEC&#8221;) on
September 10, 2025 (the &#8220;Preliminary Proxy Statement&#8221;) and plans to file a definitive proxy statement with the SEC by the
end of September 2025 that will set forth the matters for consideration by stockholders at the 2025 Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This news 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. 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 the Company&#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, and subsequent Forms 10-Q and/or Form 8-K filings with the SEC, 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.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Additional Information and Where to Find
It</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 10, 2025, the Company filed the Preliminary
Proxy Statement with the SEC with respect to the 2025 Annual Meeting, and thereafter plans to file a definitive proxy statement as soon
as reasonably possible. Promptly after filing the definitive proxy statement with the SEC, the Company will mail the definitive proxy
statement, the Company&#8217;s annual report and a proxy card to each stockholder entitled to vote at the 2025 Annual Meeting to consider
certain proposals related to and/or required by the Investment Transaction (as discussed and defined in the Preliminary Proxy Statement).
STOCKHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT
DOCUMENTS THAT THE COMPANY HAS FILED OR WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
Stockholders may obtain, free of charge, the Preliminary Proxy Statement and definitive version of the proxy statement, the amendments
and/or supplements thereto, and any other relevant documents filed by the Company with the SEC at the SEC&#8217;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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Participants in the Solicitation</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company and certain of its directors and executive
officers may be deemed to be participants in the solicitation of proxies from the Company&#8217;s stockholders in connection with the
Investment Transaction. A list of the names of the directors and executive officers of the Company and information regarding their interests
in the Investment Transaction, including their respective ownership of the Company&#8217;s common stock and other securities is contained
in the Preliminary Proxy Statement and will be contained in the definitive proxy statement for the 2025 Annual Meeting. 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, 2024, which was filed with the SEC on April 2, 2025, and as modified or supplemented
by the Forms 3 and/or Forms 4 filed with the SEC since the date of such filing, including the filings made after the appointment of a
new director to the Company&#8217;s Board of Directors on August 19, 2025. Other information regarding the participants in the proxy solicitation
and a description of their interests will be contained in the definitive proxy statement for the 2025 Annual Meeting and other relevant
materials to be filed with the SEC with respect to the 2025 Annual Meeting when they become available. These documents can be obtained
free of charge from the sources indicated above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>NovaBay Contact</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Justin Hall</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">General Counsel and Vice President of Business
Development</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>jhall@novabay.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"># # #</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
