BUSINESS: Financial NovaBay Pharma Completes $11.8 Million Private Placement By Staff Wednesday, August 3, 2016 12:23 AM EMERYVILLE, Calif.—NovaBay Pharmaceuticals (NYSE MKT: NBY), a biopharmaceutical company that is commercializing prescription Avenova lid and lash hygiene for the domestic eyecare market, has closed a $4.0 million tranche of a previously announced private placement of common stock and warrants to accredited investors, bringing total proceeds to $11.8 million. The first tranche of the private placement with proceeds of $7.8 million was completed in May 2016.Investors participating in the private placement include current stockholders Jian Ping Fu and Pioneer Pharma (Singapore) Pte. Ltd. Pioneer Pharma (Singapore) Pte. Ltd., together with its affiliates, is NovaBay’s largest shareholder. China Kington Asset Management Co. Ltd. acted as the sole placement agent for the sales to Mr. Fu, Pioneer Pharma (Singapore) Pte. Ltd. and three other investors. NovaBay’s chairman, president and CEO Mark M. Sieczkarek, as well as other accredited investors, also participated in the private placement.