R01 Fund LP Acquires Significant Stake in NovaBay Pharmaceuticals

R01 Fund LP, along with R01 Capital LLC, R01 Capital Manager LLC, and Michael Kazley, has filed a Schedule 13D with the SEC, disclosing a 16.2% ownership stake in NovaBay Pharmaceuticals, Inc. The filing indicates that R01 Fund LP acquired 1,164,117 shares of NovaBay's common stock, which are convertible from Series D Non-Voting Convertible Preferred Stock. The acquisition was made using working capital, and the total purchase price was $6,000,000. The filing also outlines the reporting persons' intentions to work with NovaBay to pursue strategic opportunities and review their investment on a continuing basis. The filing includes details of a Securities Purchase Agreement with David Lazar for the acquisition of Series D and Series E Preferred Stock. The transaction is subject to stockholder approval and other customary closing conditions.