NovaBay completes $11.5M Avenova asset sale; dissolution vote adjourned to Jan 30

Stablecoin Development Corp

Closed sale of Avenova eyecare business to PRN for $11.5M cash, net of $507,954 bridge loan payoff and $500K escrow.
Stockholders approved asset sale at reconvened special meeting on Jan 16, 2025.
Dissolution proposal has ~49% of outstanding shares in favor; meeting adjourned to Jan 30, 2025 to seek additional votes.
CEO Justin Hall states proceeds will be used to optimize value for stockholders via planned liquidation.
PRN entered a Transition Services Agreement (4 months) and a separate $85K consultancy with CFO Tommy Law.

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