NovaBay jumps after $6 million investment, new CEO

Stablecoin Development

19/08/2025 22:52

** Shares of NovaBay Pharmaceuticals NBY.A soar 75% to $1.02 after the bell

** NBY says it has entered into a $6 million securities purchase agreement with private investor David Lazar

** Lazar has also been appointed NBY's CEO, effective immediately

** NBY says it intends to use the proceeds from the investment to pursue a strategic investment and/or an acquisition

** Company also expects to declare a special cash dividend in Q3

 (Reporting by Juby Babu in Mexico City)

 ((Juby.Babu@thomsonreuters.com;))