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NovaBay Pharmaceuticals Closes Initial Public Offering of Common Stock
Date:10/31/2007

EMERYVILLE, Calif., Oct. 31 /PRNewswire-FirstCall/ -- NovaBay Pharmaceuticals, Inc. (Amex, TSX: NBY) today announced the closing of its initial public offering of 5,000,000 shares of its common stock at a price to the public of U.S.$4.00 per share. NovaBay has granted to the underwriters a 30-day option to purchase up to an additional 750,000 shares at the initial public offering price to cover over-allotments, if any. The shares are trading on the American Stock Exchange and the Toronto Stock Exchange under the symbol "NBY".

Dundee Securities Corporation acted as the sole book runner for the offering, with Desjardins Securities Inc. as co-lead manager. The shares were offered in Canada by an underwriting syndicate co-led by Dundee Securities Corporation and Desjardins Securities Inc. and including Blackmont Capital Inc., and in the United States by Dundee Securities Inc. and Dawson James Securities, Inc.

Copies of the United States prospectus may be obtained from Dawson James Securities, Inc., Attn: Investment Banking, 925 South Federal Highway, 6th Floor, Boca Raton, FL 33432, telephone number (866) 928-0928. Copies of the Canadian prospectus may be obtained from Dundee Securities Corporation, 1 Adelaide St. E., Suite 2700, Toronto, Ontario M4T 1J9; Attn: Equity Capital Markets, E-mail: ecm@dundeesecurities.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, and there shall be no sale of these securities in any state, province or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province or jurisdiction.

About NovaBay

NovaBay Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing innovative product candidates targeting the treatment or prevention of a wide range of infections in hospital and
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SOURCE NovaBay Pharmaceuticals, Inc.
Copyright©2007 PR Newswire.
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