Framework Ventures, a significant 10% shareholder in Stablecoin Development Corp (NASDAQ:SDEV), reported the disposition of common stock valued at $26,944 on June 15, 2026. This specific transaction was not an isolated sale but rather a component of a larger operational activity involving the exercise of pre-funded warrants. The stock has experienced substantial depreciation, currently trading at $1.19 with a market capitalization of $32.54 million. This represents a decline of over 91% in the past six months and a staggering 99% drop from its 52-week high of $99.75.
The reporting entities involved in this transaction include Framework Ventures IV L.P., Framework Ventures Management LLC, Framework Ventures IV GP LLC, Vance Spencer, and Michael Ernest Anderson. These parties disposed of 24,720 shares of common stock at a price of $1.09 per share. The sale was directly linked to the exercise of a pre-funded warrant. On June 16, 2026, the reporting persons exercised a pre-funded warrant to purchase 11,332,020 shares of common stock at an exercise price of $0.002385 per share. The payment for this exercise was made on a cashless basis, resulting in the withholding of the 24,720 shares, reported as sold on June 15, 2026, to cover the exercise price. Following the exercise, the reporting persons were issued the remaining 11,307,300 shares, bringing their total direct ownership of common stock to 22,668,516 shares.
The Form 4 report detailing these transactions was filed with the SEC on June 17, 2026. Despite recent price weakness, InvestingPro data shows the company maintains a strong balance sheet with liquid assets exceeding short-term obligations and a current ratio of 5.33.
In other recent news, Stablecoin Development Corp announced that it will restate its 2025 financials due to an accounting error involving pre-funded warrants. The error, related to the calculation of shares issuable upon warrant exercise, was identified by the company’s audit committee and management. The adjustment increased the number of shares issuable from 1,081,082 to 22,664,040 and reduced the exercise price significantly. Additionally, Stablecoin Development Corp has undergone a name change, previously known as NovaBay Pharmaceuticals, Inc., and will begin trading under the new name and ticker symbol "SDEV" starting April 6, 2026. This change, approved by the Board of Directors, did not require a stockholder vote and will not affect stockholder rights. The company has also updated its certificate of incorporation and bylaws to reflect the new name. These developments mark significant changes for the company in recent times.
The stock price data indicates a current price of 1.19, with a change of +0.0800 (+7.21%) at close. After hours trading shows a price of 1.20, with a change of +0.0100 (+0.84%). The chart data spans from 14:00 to 19:30, with prices fluctuating between 1.1 and 1.3.