---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-002747"
form_type: "8-K"
ticker: "SDEV"
cik: "0001389545"
company_name: "Stablecoin Development Corp"
filed_at: "2025-02-04T23:59:59+00:00"
generated_at: "2026-05-27T03:23:15.595418+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NovaBay shareholders reject liquidation proposal; board plans new vote

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-25-002747
- form_type: 8-K
- ticker: SDEV
- cik: 0001389545
- company_name: Stablecoin Development Corp
- filed_at: 2025-02-04T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.07, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1389545/000143774925002747/0001437749-25-002747-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1389545/000143774925002747/nby20250203_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-002747
- JSON: https://secwatch.observer/filing/0001437749-25-002747.json
- Plain text: https://secwatch.observer/filing/0001437749-25-002747.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.