NovaBay enters into $6M securities purchase agreement with David Lazar

NovaBay (NBY) announces it has entered into a $6 million securities purchase agreement with private investor David E. Lazar for the purchase of the Company’s non-voting convertible preferred stock. NovaBay has received $3.85 million in the first of two closings under the agreement. Effective immediately, Mr. Lazar has been appointed NovaBay’s Chief Executive Officer and a director of the Company. Former Chief Executive Officer Justin Hall has assumed the newly created position of Vice President of Business Development.