{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-23-011416","form_type":"8-K","ticker":"SDEV","cik":"0001389545","company_name":"Stablecoin Development Corp","filed_at":"2023-04-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.671857+00:00","generated_at":"2026-06-16T08:41:20.148217+00:00","sec_items":["1.01","2.03","3.02","8.01","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"NovaBay raises $3M via convertible debt; anti-dilution triggers 7.9M additional shares","bullets":["$3.3M aggregate principal convertible debentures with 10% OID, net $3.0M; conversion price $1.30 per share.","Existing warrants covering 1.65M shares amended: exercise price lowered from $6.30 to $1.50.","Series B and C preferred conversion price adjusted from $6.30 to $1.30, adding up to 7.86M shares issuable.","Stockholder approval needed within 60 days of closing; voting commitments from insiders obtained.","Proceeds for working capital; company restricted from issuing new equity for 90 days post-approval."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-23-011416","json":"https://secwatch.observer/filing/0001437749-23-011416.json","markdown":"https://secwatch.observer/filing/0001437749-23-011416.md","text":"https://secwatch.observer/filing/0001437749-23-011416.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1389545/000143774923011416/0001437749-23-011416-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1389545/000143774923011416/nby20230427_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T08:41:20.148217+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"83d48096df59718eed962c033904910004338551","claim":"Stablecoin Development Corp incurred convertible notes of $3.3 million aggregate principal amount with existing accredited institutional investors maturing eighteen (18) months from the date of issuance.","evidence_excerpt":"of (i) $3.3 million aggregate principal amount of original issue discount senior secured convertible debentures due eighteen (18) months from the date of issuance","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1389545/000143774923011416/0001437749-23-011416-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$3.3 million aggregate principal amount"},{"label":"Counterparty","value":"existing accredited institutional investors"},{"label":"Maturity","value":"eighteen (18) months from the date of issuance"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"7b896e636bacf17e6a71334a4c56f75db638d1af","claim":"Stablecoin Development Corp entered into Securities Purchase Agreement with existing accredited institutional investors valued at $3.3 million aggregate principal amount (effective 2023-04-27).","evidence_excerpt":"On April 27, 2023, NovaBay Pharmaceuticals, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with existing accredited institutional investors (the “Purchasers”) of the Company that provides for the issuance and sale in a private placement (the “Private Placement”) of (i) $3.3 million aggregate principal amount of original issue discount senior secured convertible debentures due eighteen (18) months from the date of issuance (the “Debentures”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1389545/000143774923011416/0001437749-23-011416-index.htm","confidence":0.98,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"existing accredited institutional investors"},{"label":"Value","value":"$3.3 million aggregate principal amount"},{"label":"Effective","value":"2023-04-27"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}