secwatch.observer — SEC 8-K summary
======================================

Issuer:     Stablecoin Development Corp (SDEV)
CIK:        0001389545
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001437749-23-011416
Event type: debt
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NovaBay raises $3M via convertible debt; anti-dilution triggers 7.9M additional shares
--------------------------------------------------------------------------------

- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389545/000143774923011416/0001437749-23-011416-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389545/000143774923011416/nby20230427_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-011416

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer