Core Viewpoint - NovaBay Pharmaceuticals has entered into a $6 million securities purchase agreement with private investor David E. Lazar to support its continued public listing and fund future strategic transactions [1][2] Group 1: Investment Details - The first closing of the agreement has been completed, with NovaBay receiving $3.85 million [1] - The second closing, which involves an additional investment of $2.15 million, is contingent on stockholder approval at the 2025 annual meeting [3] - The proceeds from this investment will be used to pursue strategic investments and/or acquisitions [2] Group 2: Leadership Changes - David E. Lazar has been appointed as the new Chief Executive Officer and a director of NovaBay [1] - Former CEO Justin Hall has transitioned to the role of Vice President of Business Development [1] Group 3: Company Strategy - The investment aims to prevent the liquidation and dissolution of NovaBay, allowing its common stock to continue trading on the NYSE American exchange [2] - NovaBay plans to declare a special cash dividend to its stockholders in the third quarter of 2025 [2] - The Board of Directors unanimously supports the transaction, viewing it as the best path forward for stockholders [3]