NovaBay raises ~$3.87M in public offering to redeem convertible debentures due Nov 2024

Stablecoin Development Corp

Gross proceeds $3.87M; offering included 1.16M shares, 2.04M pre-funded warrants, and 3.54M each of Series F-1/F-2/F-3 warrants.
Pre-funded warrants priced at $1.09/unit; common shares at $1.10/unit; all warrants have exercise price of $1.10.
Proceeds to redeem outstanding Original Discount Senior Secured Convertible Debentures due Nov 1, 2024 and for working capital.
Closing on July 29, 2024; pro forma shares outstanding of 3,966,604 after exercise of pre-funded warrants.
Ladenburg Thalmann acted as sole bookrunner; warrants include a one-time price reset after 60 days.

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