---
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"
generated_at: "2026-05-17T11:24:05.184510+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# NovaBay sells ~95% of diluted shares to David Lazar for $6M; names him CEO; plans special dividend

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 5.02, 5.03, 3.02, 3.03, 8.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-25-006520
- JSON: https://secwatch.observer/filing/0001829126-25-006520.json
- Plain text: https://secwatch.observer/filing/0001829126-25-006520.txt

## Key facts
- Governance Changes
  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).
  - Change: charter amendment
  - Effective: 2025-08-19
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1389545/000182912625006520/0001829126-25-006520-index.htm

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