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

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) Share this with colleagues: // //