New Age Investments LLC entered into a Membership Unit Purchase Agreement to acquire DERMAdoctor, Inc. from NovaBay Pharmaceuticals, Inc. for $1.07 million.

New Age Investments LLC entered into a Membership Unit Purchase Agreement to acquire DERMAdoctor, Inc. from NovaBay Pharmaceuticals, Inc. (NYSEAM:NBY) for $1.07 million on March 12, 2024. The Closing is subject to certain conditions that include the Company obtaining the consent of the holders of the Company?s Original Discount Senior Secured Convertible Debentures due November 1, 2024 (the ? Convertible Notes ?) to (1) amend the Security Agreement, dated April 27, 2023, to remove the Membership Units and any assets of DERMAdoctor as collateral for the Company?s obligations pursuant to the Convertible Notes and for DERMAdoctor to be removed as a party to such agreement and (2) terminate the Subsidiary Guarantee, dated April 27, 2023, which DERMAdoctor entered into in connection with the issuance of the Convertible Notes.

NovaBay expects to close the transaction before the end of the first quarter of 2024 and provide certain transitional services for the next 90 days. Yaacov Brenenson of Squire Patton Boggs (US) LLP acted as legal counsel for NovaBay.