NovaBay shareholders reject liquidation proposal; board plans new vote

Stablecoin Development Corp

On Jan 30, 2025, stockholders voted down Proposal Two (liquidation/dissolution); 49% of outstanding shares voted for, below the required >50%.
Breakdown: 2,394,836 for, 320,073 against, 48,214 abstain; 88% of votes cast supported the proposal.
Asset sales closed Jan 8 (wound care to Phase One Health) and Jan 17, 2025 (Avenova eyecare to PRN), leaving company with no operating assets.
Board will call a new special meeting to seek approval for liquidation under the Plan of Dissolution.
If approved, dissolution process under Delaware law is expected to take at least 9 months; distributions to stakeholders will follow.

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