secwatch.observer — SEC 8-K summary
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Issuer:     Stablecoin Development Corp (SDEV)
CIK:        0001389545
Form:       8-K
Filed at:   2025-10-20T23:59:59+00:00
Accession:  0001829126-25-008237
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 3.02, 3.03, 5.01, 5.02, 5.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NovaBay: Change of control as R01/Framework each own 45.1%; new CEO; reverse split approved
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- R01 Fund LP and Framework Ventures IV each beneficially own 45.1% of outstanding common stock post-conversion.
- Michael Kazley appointed CEO and Chairman; former CEO David Elliot Lazar and four directors resigned.
- Stockholders approved a reverse stock split at a ratio of 1-for-2 to 1-for-10, to be determined by Board.
- Pre-funded warrants sold for $6M aggregate gross proceeds; exercisable at $0.01 after Jan 1, 2026.
- Series D and E preferred shares convertible into 77M and 43M common shares, respectively.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389545/000182912625008237/0001829126-25-008237-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389545/000182912625008237/novabay_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-25-008237

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