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CG Capital of Beijing to Acquire 37% of NovaBay for $28 Million

publication date: Dec 27, 2017

Ch-Gemstone Capital (Beijing), a China-focused life science investor, will invest $28.3 million in NovaBay, a US company with anti-microbial products. CG Capital will purchase $10.3 million of NovaBay stock in a private placement, and it will also acquire an additional 4.2 million NovaBay shares from private investors, at a cost of $18 million. After the transaction, it will be NovaBay's largest shareholder with 6.6 million shares, 37% of the total. NovaBay distributes its NeutroPhase wound-cleaning product in China through Pioneer Pharma of Hong Kong. More details....

Stock Symbol: (NYSE: NBY)

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