STOCK TITAN

[Form 3] NovaBay Pharmaceuticals, Inc. Initial Statement of Beneficial Ownership

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
3
Rhea-AI Filing Summary

NovaBay Pharmaceuticals reported that David E. Lazar, the company's Chief Executive Officer and a director, agreed to purchase convertible preferred stock that converts into a substantial number of common shares. Under the securities purchase agreement, Mr. Lazar acquired 481,250 shares of Series D Convertible Preferred Stock at $20.00 per share for $3,850,000 and agreed to purchase 268,750 shares of Series E Convertible Preferred Stock at $20.00 per share in a subsequent closing for $2,150,000. Each Series D and Series E share converts into 160 shares of common stock, and the Series D closing resulted in conversion rights to 77,000,000 common shares. The Series D is perpetual and convertible at the holder’s option, while the Series E purchase is subject to closing conditions.

NovaBay Pharmaceuticals ha comunicato che David E. Lazar, Amministratore Delegato e membro del consiglio, ha concordato l'acquisto di azioni privilegiate convertibili che si trasformano in un consistente numero di azioni ordinarie. In base all'accordo di acquisto di titoli, il Sig. Lazar ha acquisito 481.250 azioni di Serie D convertibili al prezzo di 20,00 USD per azione, per un totale di 3.850.000 USD, e si è impegnato ad acquistare in una chiusura successiva 268.750 azioni di Serie E convertibili al prezzo di 20,00 USD per azione, per 2.150.000 USD. Ogni azione di Serie D ed E è convertibile in 160 azioni ordinarie; la chiusura della Serie D ha comportato diritti di conversione per 77.000.000 di azioni ordinarie. La Serie D è perpetua e convertibile a scelta del titolare, mentre l'acquisto della Serie E è soggetto a condizioni di chiusura.

NovaBay Pharmaceuticals informó que David E. Lazar, el director ejecutivo y miembro del consejo, acordó comprar acciones preferentes convertibles que se convierten en un número considerable de acciones ordinarias. Según el acuerdo de compra de valores, el Sr. Lazar adquirió 481.250 acciones de la Serie D convertibles a 20,00 USD por acción, por un total de 3.850.000 USD, y acordó comprar 268.750 acciones de la Serie E convertibles a 20,00 USD por acción en un cierre posterior por 2.150.000 USD. Cada acción de las Series D y E se convierte en 160 acciones ordinarias; el cierre de la Serie D dio lugar a derechos de conversión sobre 77.000.000 de acciones ordinarias. La Serie D es perpetua y convertible a opción del titular, mientras que la compra de la Serie E está sujeta a condiciones de cierre.

NovaBay Pharmaceuticals는 최고경영자(CEO)이자 이사인 David E. Lazar가 다수의 보통주로 전환 가능한 전환우선주를 매입하기로 합의했다고 보고했습니다. 증권 매매계약에 따라 Lazar 씨는 주당 20.00달러에 Series D 전환우선주 481,250주를 총 3,850,000달러에 취득했으며, 이후 종결 시 주당 20.00달러에 Series E 전환우선주 268,750주를 2,150,000달러에 매수하기로 합의했습니다. Series D와 Series E의 각 주는 보통주 160주로 전환되며, Series D 종결은 77,000,000주의 보통주 전환권을 발생시켰습니다. Series D는 영구적이며 보유자 선택에 따라 전환 가능하고, Series E 매수는 종결 조건이 충족되어야 합니다.

NovaBay Pharmaceuticals a déclaré que David E. Lazar, le directeur général et administrateur de la société, a accepté d'acheter des actions privilégiées convertibles pouvant se transformer en un nombre important d'actions ordinaires. Conformément au contrat d'achat de titres, M. Lazar a acquis 481 250 actions de Series D Convertible Preferred Stock au prix de 20,00 USD par action pour un montant de 3 850 000 USD et s'est engagé à acheter 268 750 actions de Series E Convertible Preferred Stock au même prix de 20,00 USD par action lors d'une clôture ultérieure pour 2 150 000 USD. Chaque action des séries D et E se convertit en 160 actions ordinaires; la clôture de la Series D a conféré des droits de conversion sur 77 000 000 d'actions ordinaires. La Series D est perpétuelle et convertible à l'option du détenteur, tandis que l'achat de la Series E est soumis à des conditions de clôture.

NovaBay Pharmaceuticals berichtete, dass David E. Lazar, der Chief Executive Officer und Direktor des Unternehmens, zugestimmt hat, wandelbare Vorzugsaktien zu erwerben, die in eine erhebliche Anzahl von Stammaktien umgewandelt werden können. Gemäß dem Wertpapierkaufvertrag erwarb Herr Lazar 481.250 Aktien der Series D Convertible Preferred Stock zu je 20,00 USD für insgesamt 3.850.000 USD und erklärte sich bereit, in einem späteren Abschluss 268.750 Aktien der Series E Convertible Preferred Stock zu je 20,00 USD für 2.150.000 USD zu kaufen. Jede Aktie der Series D und Series E wandelt sich in 160 Stammaktien, und der Abschluss der Series D begründete Wandlungsrechte auf 77.000.000 Stammaktien. Die Series D ist unbefristet und nach Wahl des Inhabers wandelbar, während der Erwerb der Series E an Abschlussbedingungen gebunden ist.

Positive
  • Insider alignment: The CEO and director made a significant personal investment, buying Series D preferred for $3,850,000 and committing to Series E for $2,150,000.
  • Convertible structure provides flexibility: The preferred shares convert into common stock at the holders option, offering liquidity and strategic flexibility to the reporting person.
Negative
  • Potential material dilution: Series D converts into 77,000,000 common shares, which is a large issuance relative to typical public-company float.
  • Pending financing conditional: The Series E purchase is subject to closing conditions, meaning the full committed stake is not yet finalized.

Insights

TL;DR: CEO's large preferred-stock purchase creates potential for significant equity dilution but signals substantial insider commitment.

The reporting shows the CEO and director executed a private purchase of convertible preferred securities totaling $3.85 million at initial close with a further $2.15 million commitment pending. The convertible terms—160 common shares per preferred share—mean the Series D acquired converts into 77,000,000 common shares if converted, an amount that is clearly material to the companys equity base. This transaction is economically significant for both ownership structure and potential future dilution if conversion occurs. The pending Series E closing adds conditional upside to the insider stake.

TL;DR: Insider purchase by CEO/director raises alignment with shareholders but requires scrutiny of voting, ownership limits, and conversion controls.

The form identifies Mr. Lazar as Director, Chief Executive Officer, and a 10% owner, indicating a prominent insider role. The acquisition via preferred shares that are perpetual and convertible at the holders option can shift control or influence depending on conversion and any ownership limitations referenced. The outstanding conversion capacity and the conditional Series E closing merit attention to governance provisions, anti-dilution mechanisms, and any restrictions on conversion to ensure minority shareholder protections remain intact.

NovaBay Pharmaceuticals ha comunicato che David E. Lazar, Amministratore Delegato e membro del consiglio, ha concordato l'acquisto di azioni privilegiate convertibili che si trasformano in un consistente numero di azioni ordinarie. In base all'accordo di acquisto di titoli, il Sig. Lazar ha acquisito 481.250 azioni di Serie D convertibili al prezzo di 20,00 USD per azione, per un totale di 3.850.000 USD, e si è impegnato ad acquistare in una chiusura successiva 268.750 azioni di Serie E convertibili al prezzo di 20,00 USD per azione, per 2.150.000 USD. Ogni azione di Serie D ed E è convertibile in 160 azioni ordinarie; la chiusura della Serie D ha comportato diritti di conversione per 77.000.000 di azioni ordinarie. La Serie D è perpetua e convertibile a scelta del titolare, mentre l'acquisto della Serie E è soggetto a condizioni di chiusura.

NovaBay Pharmaceuticals informó que David E. Lazar, el director ejecutivo y miembro del consejo, acordó comprar acciones preferentes convertibles que se convierten en un número considerable de acciones ordinarias. Según el acuerdo de compra de valores, el Sr. Lazar adquirió 481.250 acciones de la Serie D convertibles a 20,00 USD por acción, por un total de 3.850.000 USD, y acordó comprar 268.750 acciones de la Serie E convertibles a 20,00 USD por acción en un cierre posterior por 2.150.000 USD. Cada acción de las Series D y E se convierte en 160 acciones ordinarias; el cierre de la Serie D dio lugar a derechos de conversión sobre 77.000.000 de acciones ordinarias. La Serie D es perpetua y convertible a opción del titular, mientras que la compra de la Serie E está sujeta a condiciones de cierre.

NovaBay Pharmaceuticals는 최고경영자(CEO)이자 이사인 David E. Lazar가 다수의 보통주로 전환 가능한 전환우선주를 매입하기로 합의했다고 보고했습니다. 증권 매매계약에 따라 Lazar 씨는 주당 20.00달러에 Series D 전환우선주 481,250주를 총 3,850,000달러에 취득했으며, 이후 종결 시 주당 20.00달러에 Series E 전환우선주 268,750주를 2,150,000달러에 매수하기로 합의했습니다. Series D와 Series E의 각 주는 보통주 160주로 전환되며, Series D 종결은 77,000,000주의 보통주 전환권을 발생시켰습니다. Series D는 영구적이며 보유자 선택에 따라 전환 가능하고, Series E 매수는 종결 조건이 충족되어야 합니다.

NovaBay Pharmaceuticals a déclaré que David E. Lazar, le directeur général et administrateur de la société, a accepté d'acheter des actions privilégiées convertibles pouvant se transformer en un nombre important d'actions ordinaires. Conformément au contrat d'achat de titres, M. Lazar a acquis 481 250 actions de Series D Convertible Preferred Stock au prix de 20,00 USD par action pour un montant de 3 850 000 USD et s'est engagé à acheter 268 750 actions de Series E Convertible Preferred Stock au même prix de 20,00 USD par action lors d'une clôture ultérieure pour 2 150 000 USD. Chaque action des séries D et E se convertit en 160 actions ordinaires; la clôture de la Series D a conféré des droits de conversion sur 77 000 000 d'actions ordinaires. La Series D est perpétuelle et convertible à l'option du détenteur, tandis que l'achat de la Series E est soumis à des conditions de clôture.

NovaBay Pharmaceuticals berichtete, dass David E. Lazar, der Chief Executive Officer und Direktor des Unternehmens, zugestimmt hat, wandelbare Vorzugsaktien zu erwerben, die in eine erhebliche Anzahl von Stammaktien umgewandelt werden können. Gemäß dem Wertpapierkaufvertrag erwarb Herr Lazar 481.250 Aktien der Series D Convertible Preferred Stock zu je 20,00 USD für insgesamt 3.850.000 USD und erklärte sich bereit, in einem späteren Abschluss 268.750 Aktien der Series E Convertible Preferred Stock zu je 20,00 USD für 2.150.000 USD zu kaufen. Jede Aktie der Series D und Series E wandelt sich in 160 Stammaktien, und der Abschluss der Series D begründete Wandlungsrechte auf 77.000.000 Stammaktien. Die Series D ist unbefristet und nach Wahl des Inhabers wandelbar, während der Erwerb der Series E an Abschlussbedingungen gebunden ist.

SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0104
Estimated average burden
hours per response: 0.5
1. Name and Address of Reporting Person*
Lazar David E.

(Last) (First) (Middle)
44, TOWER 100, THE TOWERS
WINSTON CHURCHILL, PAITILLA

(Street)
PANAMA CITY R1 07196

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
08/19/2025
3. Issuer Name and Ticker or Trading Symbol
NovaBay Pharmaceuticals, Inc. [ NBY ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
Chief Executive Officer
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock 0(1) D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Series D Convertible Preferred Stock(2)(3) 08/19/2025 (4) Common Stock 77,000,000 (5) D
Explanation of Responses:
1. No shares of Common Stock are beneficially owned.
2. On August 19, 2025, David E. Lazar (the "Reporting Person") and NovaBay Pharmaceuticals, Inc. (the "Company"), entered into a securies purchase agreement pursuant to which the Reporting Person will acquire (i) an aggregate of 481,250 shares of the Company's Series D Convertible Preferred Stock (the "Series D Preferred Stock") at a price of $20.00 per share and (ii) an aggregate of 268,750 shares of the Company's Series E Convertible Preferred Stock (the "Series E Preferred Stock") at a price of $20.00 per share. Each share of Series D Preferred Stock is convertible into 160 shares of the Company's Common Stock at any time, subject to certain ownership limitations. The initial closing took place on August 19, 2025, whereby the Reporting Person acquired 481,250 shares of Series D Preferred Stock for a total purchase price of $3,850,000.
3. The Reporting Person will acquire the shares of Series E Preferred Stock at a subsequent closing, subject to satisfaction of certain closing conditions, for a total purchase price of $2,150,000. Each share of Series E Preferred Stock will be convertible into 160 shares of the Company's Common Stock at any time, subject to certain ownership limitations.
4. The Series D Preferred Stock is perpetual and therefore has no expiration date.
5. The shares of Series D Preferred Stock are convertible at the option of the Reporting Person for no additional consideration.
/s/ David E. Lazar 08/26/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did David E. Lazar disclose on Form 3 for NovaBay Pharmaceuticals (NBY)?

He disclosed acquisition of 481,250 shares of Series D Convertible Preferred Stock for $3,850,000 and agreement to acquire 268,750 Series E shares for $2,150,000 at a later closing.

How many common shares can the Series D Preferred Stock convert into for NBY?

Each Series D share converts into 160 common shares, and the Series D acquired converts into 77,000,000 common shares in total.

Is the Series D Preferred Stock exercisable or time-limited?

The Series D Preferred Stock is perpetual and has no expiration date; it is convertible at the holders option for no additional consideration.

Is the Series E Preferred Stock purchase completed?

No. The Reporting Person will acquire the Series E shares at a subsequent closing subject to satisfaction of certain closing conditions.

What roles does David E. Lazar hold at NBY according to the filing?

The filing lists him as Director, Chief Executive Officer, and a 10% owner of the issuer.
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