NovaBay to Become Stablecoin Development Corp (SDEV)

NovaBay Pharmaceuticals, Inc. announced it will change its name to Stablecoin Development Corporation and its NYSE American ticker from NBY to SDEV, expected to take effect April 3, 2026. The company reported that Stablecoin Development Corporation acquired 2.06 billion SKY tokens as of March 16, 2026.

SDEV said it has earned cumulative staking rewards of approximately 26.6 million SKY tokens since starting on-chain staking. It also reported that it acquired about 1.09 billion SKY tokens on the open market at an average purchase price of approximately $0.065 per SKY token.

The update references a January 2026 private placement in which SDEV issued pre-funded warrants to purchasers including R01 Fund LP, Framework Ventures, Tether Investments, and Sky Frontier Foundation, generating gross proceeds of approximately $134 million.