NovaBay licenses Avenova brand to Sonoma for EU eye care market; royalty on Ocudox sales

Stablecoin Development Corp

Exclusive, non-transferable license to use Avenova brand with Sonoma's Ocudox and other eyecare products in the EU.
Quarterly royalty based on net sales of Sonoma Products in the EU, minus returns, rebates, taxes, and delivery costs.
License term is two years with automatic renewal and customary termination rights; either party may terminate for any reason with notice.
Ocudox already has Class IIB CE mark for EU sale; Sonoma will manufacture and distribute through its EU distributor network.
NovaBay remains exclusive U.S. seller of Avenova-branded products; EU market size comparable to U.S. provides expansion opportunity.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Stablecoin Development Corp entered into License Agreement with Sonoma Pharmaceuticals, Inc. (effective 2024-01-05).

Action: entry
Agreement: license
Counterparty: Sonoma Pharmaceuticals, Inc.
Effective: 2024-01-05

Exact text from the filing

NovaBay Pharmaceuticals, Inc. (“we,” “us,” “our” and “NovaBay”) entered into a License and Distribution Agreement, dated January 5, 2024 (the “License Agreement”), with Sonoma Pharmaceuticals, Inc. (“Sonoma”), pursuant to which we granted Sonoma an exclusive, non-transferable license to use our Avenova brand for use by Sonoma for the sale, distribution, and marketing of Sonoma’s eye product Ocudox® and its other eyecare products (“Sonoma Products”) in the European Union (the "Territory").

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Source: SEC EDGAR

accession 0001437749-24-001062

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