NovaBay raises $134M via pre-funded warrants, pivots to digital asset strategy focused on SKY tokens

Stablecoin Development Corp

Issued pre-funded warrants for 837.7M shares at $0.17/warrant, gross proceeds ~$134M.
Initial digital asset holdings: 943.6M SKY tokens; strategy targets SKY as primary asset.
Purchasers receive board nomination rights and consent over Digital Asset Strategy changes for 24 months.
Company adopts ASU 2023-08, fair value accounting for crypto assets; earnings will be volatile.
Business realignment from wound care to digital asset holding; risks include SKY volatility and regulatory uncertainty.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Stablecoin Development Corp entered into Securities Purchase Agreement with R01 Fund LP, Framework Ventures IV L.P., Tether Investments, S.A. de C.V. and Sky Frontier Foundation valued at aggregate gross proceeds of approximately $134 million (effective 2026-01-16).

Action: entry
Agreement: equity purchase
Counterparty: R01 Fund LP, Framework Ventures IV L.P., Tether Investments, S.A. de C.V. and Sky Frontier Foundation
Value: aggregate gross proceeds of approximately $134 million
Effective: 2026-01-16

Exact text from the filing

On January 16, 2026, NovaBay Pharmaceuticals, Inc. (the “Company”), entered into a Securities Purchase Agreement (the “SPA”) with each of R01 Fund LP, Framework Ventures IV L.P., Tether Investments, S.A. de C.V. and Sky Frontier Foundation (together, the “Purchasers”).

View on SEC.gov

294 material agreements filed in the last 30 days. Browse all material agreements →

Stablecoin Development Corp filing history →

Source: SEC EDGAR

accession 0001437749-26-001459

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.