NovaBay prices IPO

NovaBay (NBY; TSX:NBY) raised $20 million through the sale of 5 million shares at $4 in an IPO on the American Stock Exchange and the Toronto Stock Exchange. The deal price came in at the low end of the proposed $4-$6 range and values the company at $84.6 million. Dundee Securities; Desjardins; Blackmont Capital; and Dawson James Securities were the underwriters. In February, NBY filed to raise up to $23 million. On Friday, NBY was off $0.38. On the Toronto Stock Exchange, the shares were off C$0.50. ...