On October 31, 2007, NovaBay Pharmaceuticals, Inc. announced the closing of its initial public offering of 5,000,000 shares of its common stock at a price to the public of US$4.00 per share. NovaBay has granted to the underwriters a 30-day option to purchase up to an additional 750,000 shares at the IPO price to cover over-allotments, if any. The shares are trading on the American Stock Exchange and the Toronto Stock Exchange under the symbol "NBY". Dundee Securities Corporation acted as the sole book runner for the offering, with Desjardins Securities Inc. as co-lead manager. The shares were offered in Canada by an underwriting syndicate co-led by Dundee Securities Corporation and Desjardins Securities Inc. and including Blackmont Capital Inc., and in the United States by Dundee Securities Inc. and Dawson James Securities, Inc. NovaBay is a biopharmaceutical company focused on developing innovative product candidates targeting the treatment or prevention of a wide range of infections in hospital and non-hospital environments. NovaBay was advised in this transaction by Fasken Martineau with a team that included Rob Mason and Karoline Kralka (corporate/securities), and Mitchell Thaw (tax).