NovaBay to sell Avenova brand for $9.5M to PRN; plans dissolution

Stablecoin Development Corp

NovaBay signs definitive agreement to sell Avenova assets to PRN for $9.5M cash; closing expected Q4 2024.
Sale requires stockholder approval; company plans complete liquidation and dissolution if approved.
CEO says Avenova will continue under PRN, which has network of 5,000+ eyecare professionals.
Post-closing, NovaBay will distribute net proceeds to stockholders and other stakeholders per Delaware law.
Termination fee of $500,000 payable to either party under specified conditions.

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