{"schema_version":"secwatch.filing_event.v1","accession":"0001829126-25-006520","form_type":"8-K","ticker":"SDEV","cik":"0001389545","company_name":"Stablecoin Development Corp","filed_at":"2025-08-19T23:59:59+00:00","discovered_at":"2026-05-14T18:02:43.871622+00:00","generated_at":"2026-05-17T11:24:05.184510+00:00","sec_items":["1.01","5.02","5.03","3.02","3.03","8.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"NovaBay sells ~95% of diluted shares to David Lazar for $6M; names him CEO; plans special dividend","bullets":["Lazar purchased 481,250 Series D preferred shares for $3.85M at First Closing; will buy 268,750 Series E shares for $2.15M later.","Series D/E convert into 120M common shares total (~95% of fully diluted shares); conversion blocked until shareholder approval.","Lazar appointed CEO and director; former CEO Justin Hall becomes VP of Business Development, GC and Secretary.","Company expects to declare a special dividend of at least $0.80/share in Q4 2025, funded from cash segregated into separate account.","Shareholder meeting in Q4 2025 to approve conversion, increase authorized shares to 300M, reverse stock split, and other proposals."],"urls":{"canonical":"https://secwatch.observer/filing/0001829126-25-006520","json":"https://secwatch.observer/filing/0001829126-25-006520.json","markdown":"https://secwatch.observer/filing/0001829126-25-006520.md","text":"https://secwatch.observer/filing/0001829126-25-006520.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1389545/000182912625006520/0001829126-25-006520-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1389545/000182912625006520/novabay_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T11:24:05.184510+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"32fc8d7cb1a94fcb2896a9867b691a4c70dd1f85","claim":"Stablecoin Development Corp: Filed Series D and Series F Certificates of Designation with Delaware Secretary of State to establish preferences and rights of newly created preferred stock series (effective 2025-08-19).","evidence_excerpt":"Before the First Closing described in Item 1.01 above, on August 19, 2025, the Company filed the Series D Certificate of Designation and the Series F Certificate of Designation with the Secretary of State of Delaware setting forth the powers, preferences, rights, qualifications, limitations and restrictions applicable to the Series D Preferred Stock and the Series F Preferred Stock, respectively","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1389545/000182912625006520/0001829126-25-006520-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2025-08-19"}],"fact_type":"governance_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}