secwatch.observer — SEC 8-K summary
======================================

Issuer:     Stablecoin Development Corp (SDEV)
CIK:        0001389545
Form:       8-K
Filed at:   2025-08-19T23:59:59+00:00
Accession:  0001829126-25-006520
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 5.02, 5.03, 3.02, 3.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389545/000182912625006520/0001829126-25-006520-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389545/000182912625006520/novabay_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-25-006520

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer