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.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.95

Stablecoin Development Corp issued 837,696,130 shares of Common Stock underlying pre-funded warrants of warrant to R01 Fund LP, Framework Ventures IV L.P., Tether Investments, S.A. de C.V. and Sky Frontier Foundation for aggregate gross proceeds of approximately $134 million.

Security: warrant
Shares: 837,696,130 shares of Common Stock underlying pre-funded warrants
Purchaser: R01 Fund LP, Framework Ventures IV L.P., Tether Investments, S.A. de C.V. and Sky Frontier Foundation
Consideration: aggregate gross proceeds of approximately $134 million

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”). Pursuant to the SPA, the Company issued and sold pre-funded warrants (the “Pre-Funded Warrants”) to purchase an aggregate of 837,696,130 shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”) for aggregate gross proceeds of approximately $134 million.

View on SEC.gov

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

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Stablecoin Development Corp filing history →

Source: SEC EDGAR

accession 0001437749-26-001459

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