- NovaBay Pharmaceuticals Inc NBY has agreed to acquire DERMAdoctor LLC, a privately-held company that commercializes dermatologist-developed skincare products, for $15.0 million.
- The deal value includes $12.0 million in cash and an additional $3 million in earnout payments contingent upon the DERMAdoctor business achieving predetermined financial targets for the 2022 and the 2023 fiscal years.
- DERMAdoctor produces and sells more than 30 products under brands including Ain't Misbehavin', Calm Cool + Corrected, Kakadu C, KP Duty, and Wrinkle Revenge.
- The acquisition has the potential to double topline revenue in 2022.
- DERMAdoctor sells its products through major retailers.
- The transaction will close in Q4 of 2021.
- Price Action: NBY stock is up 7.57% at $0.69 during the market session on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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