NovaBay Pharmaceuticals To Sell Assets Of Its Avenova Brand - Quick Facts

(RTTNews) - NovaBay Pharmaceuticals (NBY) has entered into a definitive asset purchase agreement with PRN Physician Recommended Nutriceuticals, to sell the assets of its Avenova brand and business for $9.5 million. The asset sale will require approval from NovaBay stockholders holding at least a majority of the outstanding shares of NovaBay common stock.

NovaBay Pharmaceuticals said a stockholder vote will be sought by proxy solicitation, which will include a plan of dissolution calling for the liquidation of any remaining company assets, satisfying or making reasonable provisions for any remaining obligations, and making distributions to the stockholders of the available proceeds, if any.

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