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NovaBay Pharmaceuticals, Inc. (NYSE American:NBY) reported Wednesday that it has filed the certificate of designation for its Series E Non-Voting Convertible Preferred Stock with the Delaware Secretary of State. The filing, dated October 16, was previously disclosed in a report by the company on Monday. The company’s stock has shown significant momentum, with a 169% price return over the past six months, according to InvestingPro data.
According to the company’s statement, the certificate sets forth the preferences, rights, and limitations of the Series E Non-Voting Convertible Preferred Stock, which carries a par value of $0.01 per share. Details of the certificate of designation were included as an exhibit to the current report on Form 8-K submitted to the Securities and Exchange Commission. The company maintains strong financial health with a current ratio of 2.85, indicating solid liquidity, and holds more cash than debt on its balance sheet.
NovaBay Pharmaceuticals is incorporated in Delaware and its common stock is traded on the NYSE American under the ticker symbol NBY.
This information is based on a press release statement included in a recent SEC filing.
In other recent news, NovaBay Pharmaceuticals announced the resignation of its Chief Executive Officer and director, David Lazar. The resignation is set to take effect following the release of escrow funds, as detailed in a new Securities Purchase Agreement. This development was disclosed in a statement based on a filing with the Securities and Exchange Commission. As part of the agreement, Lazar will transfer his rights, title, and interest in 441,325 shares of Series D Non-Voting Convertible Preferred Stock. Additionally, he will transfer the rights to purchase 268,750 shares of Series E Non-Voting Convertible Preferred Stock to R01 Fund LP and Framework Ventures IV L.P. These recent developments mark a significant change in the leadership and shareholding structure of NovaBay Pharmaceuticals.
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