Stablecoin Development Corp (SDEV): M&A transaction — 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.

item 2.01 item 5.07 item 8.01 item 5.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Stablecoin Development Corp completed a disposition involving PRN Physician Recommended Nutriceuticals, LLC for $11.5 million (closed 2025-01-17).

Action: disposition
Counterparty: PRN Physician Recommended Nutriceuticals, LLC
Consideration: $11.5 million
Closing: 2025-01-17

Exact text from the filing

Loan was discharged and all collateral was released. Pursuant to the Purchase Agreement, the Company sold the Avenova Assets to PRN for a closing cash purchase price equal to $11.5 million, less (i) the amount of the Bridge Loan Balance and (ii) $500,000, which amount was deposited into an escrow account for up to six (6) months to be used for Company

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Source: SEC EDGAR

accession 0001437749-25-001634

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