---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-001459"
form_type: "8-K"
ticker: "SDEV"
cik: "0001389545"
company_name: "Stablecoin Development Corp"
filed_at: "2026-01-16T23:59:59+00:00"
generated_at: "2026-05-16T09:45:33.181070+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-26-001459
- form_type: 8-K
- ticker: SDEV
- cik: 0001389545
- company_name: Stablecoin Development Corp
- filed_at: 2026-01-16T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1389545/000143774926001459/0001437749-26-001459-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1389545/000143774926001459/nby20260116_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-001459
- JSON: https://secwatch.observer/filing/0001437749-26-001459.json
- Plain text: https://secwatch.observer/filing/0001437749-26-001459.txt

## Key facts
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1389545/000143774926001459/0001437749-26-001459-index.htm

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