Stablecoin Development Corp (SDEV): restructuring charge — 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.

item 1.01 item 8.01 item 2.05 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.4

Stablecoin Development Corp announced a restructuring.

Type: restructuring

Exact text from the filing

The Company is currently unable to make a determination of the estimated amount or range of amounts of the charge that will result in future cash expenditures in connection with the Asset Sale Transaction, which transaction is subject to the satisfaction of closing conditions of the parties.

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2 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Stablecoin Development Corp filing history →

Source: SEC EDGAR

accession 0001437749-24-029642

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