<SEC-DOCUMENT>0001437749-26-014230.txt : 20260430
<SEC-HEADER>0001437749-26-014230.hdr.sgml : 20260430
<ACCEPTANCE-DATETIME>20260430162532
ACCESSION NUMBER:		0001437749-26-014230
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20260430
DATE AS OF CHANGE:		20260430

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Stablecoin Development Corp
		CENTRAL INDEX KEY:			0001389545
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				680454536
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-83670
		FILM NUMBER:		26925961

	BUSINESS ADDRESS:	
		STREET 1:		2000 POWELL STREET, SUITE 1150
		CITY:			EMERYVILLE
		STATE:			CA
		ZIP:			94608
		BUSINESS PHONE:		(510) 899-8800

	MAIL ADDRESS:	
		STREET 1:		2000 POWELL STREET, SUITE 1150
		CITY:			EMERYVILLE
		STATE:			CA
		ZIP:			94608

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NovaBay Pharmaceuticals, Inc.
		DATE OF NAME CHANGE:	20070209

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Framework Ventures IV L.P.
		CENTRAL INDEX KEY:			0002028474
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		600 MONTGOMERY STREET, 42ND FLOOR
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111
		BUSINESS PHONE:		(628) 233-0357

	MAIL ADDRESS:	
		STREET 1:		600 MONTGOMERY STREET, 42ND FLOOR
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
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    <coverPageHeader>
      <amendmentNo>3</amendmentNo>
      <securitiesClassTitle>Common Stock, $0.01 par value</securitiesClassTitle>
      <dateOfEvent>04/29/2026</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0001389545</issuerCIK>
        <issuerCusips>
          <issuerCusipNumber>66987P508</issuerCusipNumber>
          <issuerCusipNumber/>
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        <issuerName>Stablecoin Development Corp</issuerName>
        <address>
          <com:street1>2000 POWELL STREET</com:street1>
          <com:street2>SUITE 1150</com:street2>
          <com:city>EMERYVILLE</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>94608</com:zipCode>
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        <notificationInfo>
          <personName>FRAMEWORK VENTURES IV L.P.</personName>
          <personPhoneNum>628-233-0357</personPhoneNum>
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            <com:street1>600 Montgomery Street</com:street1>
            <com:street2>Floor 42</com:street2>
            <com:city>San Francisco</com:city>
            <com:stateOrCountry>CA</com:stateOrCountry>
            <com:zipCode>94111</com:zipCode>
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        <reportingPersonCIK>0002028474</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Framework Ventures IV L.P.</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>WC</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>22152695.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>22152695.00</sharedDispositivePower>
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        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>44.5</percentOfClass>
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        <commentContent>This Amendment No. 3 is being filed to update the beneficial ownership of the Reporting Persons to reflect (i) anti-dilution adjustments under certain pre-funded warrants issued by the Issuer to Framework Ventures IV L.P. and other investors on October 16, 2025 (the "Pre-Funded Warrants"), which, as a result of dilutive issuances of the Issuer's Common Stock during the fourth quarter of 2025, increased the aggregate number of shares of Common Stock issuable upon exercise of the Pre-Funded Warrants to 113,320,197 as of December 31, 2025, and (ii) the Issuer's 1-for-5 reverse stock split that became effective on February 20, 2026, pursuant to which the number of shares of Common Stock issuable upon exercise of the Pre-Funded Warrants was adjusted to 22,664,040. The reported securities may also be deemed to be beneficially owned by Framework Ventures IV GP LLC, Framework Ventures Management LLC, Vance Spencer and Michael Ernest Anderson, each of which or whom disclaims beneficial ownership of such shares, except to the extent of its or his pecuniary interest therein. All percentage calculations set forth herein are based on the aggregate of 49,779,686 shares of Common Stock outstanding as of April 29, 2026.</commentContent>
      </reportingPersonInfo>
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        <reportingPersonCIK>0002091751</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Framework Ventures Management LLC</reportingPersonName>
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        <sharedDispositivePower>22152695.00</sharedDispositivePower>
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        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>44.5</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
        <commentContent>This Amendment No. 3 is being filed to update the beneficial ownership of the Reporting Persons to reflect (i) anti-dilution adjustments under certain pre-funded warrants issued by the Issuer to Framework Ventures IV L.P. and other investors on October 16, 2025 (the "Pre-Funded Warrants"), which, as a result of dilutive issuances of the Issuer's Common Stock during the fourth quarter of 2025, increased the aggregate number of shares of Common Stock issuable upon exercise of the Pre-Funded Warrants to 113,320,197 as of December 31, 2025, and (ii) the Issuer's 1-for-5 reverse stock split that became effective on February 20, 2026, pursuant to which the number of shares of Common Stock issuable upon exercise of the Pre-Funded Warrants was adjusted to 22,664,040. The reported securities may also be deemed to be beneficially owned by Framework Ventures IV GP LLC, Framework Ventures Management LLC, Vance Spencer and Michael Ernest Anderson, each of which or whom disclaims beneficial ownership of such shares, except to the extent of its or his pecuniary interest therein. All percentage calculations set forth herein are based on the aggregate of 49,779,686 shares of Common Stock outstanding as of April 29, 2026.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0002092591</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Framework Ventures IV GP LLC</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>WC</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
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        <sharedDispositivePower>22152695.00</sharedDispositivePower>
        <aggregateAmountOwned>22152695.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>44.5</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
        <commentContent>This Amendment No. 3 is being filed to update the beneficial ownership of the Reporting Persons to reflect (i) anti-dilution adjustments under certain pre-funded warrants issued by the Issuer to Framework Ventures IV L.P. and other investors on October 16, 2025 (the "Pre-Funded Warrants"), which, as a result of dilutive issuances of the Issuer's Common Stock during the fourth quarter of 2025, increased the aggregate number of shares of Common Stock issuable upon exercise of the Pre-Funded Warrants to 113,320,197 as of December 31, 2025, and (ii) the Issuer's 1-for-5 reverse stock split that became effective on February 20, 2026, pursuant to which the number of shares of Common Stock issuable upon exercise of the Pre-Funded Warrants was adjusted to 22,664,040. The reported securities may also be deemed to be beneficially owned by Framework Ventures IV GP LLC, Framework Ventures Management LLC, Vance Spencer and Michael Ernest Anderson, each of which or whom disclaims beneficial ownership of such shares, except to the extent of its or his pecuniary interest therein. All percentage calculations set forth herein are based on the aggregate of 49,779,686 shares of Common Stock outstanding as of April 29, 2026.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0002092030</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Spencer Vance</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>WC</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>22152695.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>22152695.00</sharedDispositivePower>
        <aggregateAmountOwned>22152695.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>44.5</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
        <commentContent>This Amendment No. 3 is being filed to update the beneficial ownership of the Reporting Persons to reflect (i) anti-dilution adjustments under certain pre-funded warrants issued by the Issuer to Framework Ventures IV L.P. and other investors on October 16, 2025 (the "Pre-Funded Warrants"), which, as a result of dilutive issuances of the Issuer's Common Stock during the fourth quarter of 2025, increased the aggregate number of shares of Common Stock issuable upon exercise of the Pre-Funded Warrants to 113,320,197 as of December 31, 2025, and (ii) the Issuer's 1-for-5 reverse stock split that became effective on February 20, 2026, pursuant to which the number of shares of Common Stock issuable upon exercise of the Pre-Funded Warrants was adjusted to 22,664,040. The reported securities may also be deemed to be beneficially owned by Framework Ventures IV GP LLC, Framework Ventures Management LLC, Vance Spencer and Michael Ernest Anderson, each of which or whom disclaims beneficial ownership of such shares, except to the extent of its or his pecuniary interest therein. All percentage calculations set forth herein are based on the aggregate of 49,779,686 shares of Common Stock outstanding as of April 29, 2026.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0002093174</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Anderson Michael Ernest</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>WC</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>22152695.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>22152695.00</sharedDispositivePower>
        <aggregateAmountOwned>22152695.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>44.5</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
        <commentContent>This Amendment No. 3 is being filed to update the beneficial ownership of the Reporting Persons to reflect (i) anti-dilution adjustments under certain pre-funded warrants issued by the Issuer to Framework Ventures IV L.P. and other investors on October 16, 2025 (the "Pre-Funded Warrants"), which, as a result of dilutive issuances of the Issuer's Common Stock during the fourth quarter of 2025, increased the aggregate number of shares of Common Stock issuable upon exercise of the Pre-Funded Warrants to 113,320,197 as of December 31, 2025, and (ii) the Issuer's 1-for-5 reverse stock split that became effective on February 20, 2026, pursuant to which the number of shares of Common Stock issuable upon exercise of the Pre-Funded Warrants was adjusted to 22,664,040. The reported securities may also be deemed to be beneficially owned by Framework Ventures IV GP LLC, Framework Ventures Management LLC, Vance Spencer and Michael Ernest Anderson, each of which or whom disclaims beneficial ownership of such shares, except to the extent of its or his pecuniary interest therein. All percentage calculations set forth herein are based on 49,779,686 shares of Common Stock outstanding as of April 29, 2026.</commentContent>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Common Stock, $0.01 par value</securityTitle>
        <issuerName>Stablecoin Development Corp</issuerName>
        <issuerPrincipalAddress>
          <com:street1>2000 POWELL STREET</com:street1>
          <com:street2>SUITE 1150</com:street2>
          <com:city>EMERYVILLE</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>94608</com:zipCode>
        </issuerPrincipalAddress>
        <commentText>Explanatory Note: This Amendment No. 3 amends and supplements the statement on Schedule 13D originally filed with the Securities and Exchange Commission (the "SEC") on October 15, 2025, as amended and supplemented by that certain Amendment No. 1 to Schedule 13D filed on October 25, 2025, and as amended and supplemented by that certain Amendment No. 2 to Schedule 13D filed on January 21, 2026 (as amended, the "Statement") by Framework Ventures IV L.P. ("Framework") with respect to the Common Stock of NovaBay Pharmaceuticals, Inc. (the "Company"). Unless otherwise defined herein, capitalized terms used in this Amendment No. 3 shall have the meanings ascribed to them in the Statement. This Amendment No. 3 is being filed to update the beneficial ownership of the Reporting Persons to reflect (i) anti-dilution adjustments under certain pre-funded warrants issued by the Issuer to Framework Ventures IV L.P. and other investors on October 16, 2025 (the "Pre-Funded Warrants"), which, as a result of dilutive issuances of the Issuer's Common Stock during the fourth quarter of 2025, increased the aggregate number of shares of Common Stock issuable upon exercise of the Pre-Funded Warrants to 113,320,197 as of December 31, 2025, and (ii) the Issuer's 1-for-5 reverse stock split that became effective on February 20, 2026, pursuant to which the number of shares of Common Stock issuable upon exercise of the Pre-Funded Warrants was adjusted to 22,664,040. The reported securities may also be deemed to be beneficially owned by Framework Ventures IV GP LLC, Framework Ventures Management LLC, Vance Spencer and Michael Ernest Anderson, each of which or whom disclaims beneficial ownership of such shares, except to the extent of its or his pecuniary interest therein. All percentage calculations set forth herein are based on the aggregate of 49,779,686 shares of Common Stock outstanding as of April 29, 2026. Unless amended or otherwise stated below, the information for Framework in the Statement remains unchanged. </commentText>
      </item1>
      <item5>
        <percentageOfClassSecurities>The Reporting Persons beneficially own an aggregate of 22,152,695.00 shares of Common Stock (the "Subject Shares"). The Subject Shares represent approximately 44.5% of the outstanding shares of Common Stock, based on the aggregate of 49,779,686 shares of Common Stock outstanding as of April 29, 2026.</percentageOfClassSecurities>
        <numberOfShares>1. Sole power to vote or direct vote: 0.00

2. Shared power to vote or direct vote: 22,152,695.00 shares of Common Stock

3. Sole power to dispose or direct the disposition: 0.00

4. Shared power to dispose or direct the disposition: 22,152,695.00 shares of Common Stock</numberOfShares>
        <transactionDesc>Except as described in this Schedule 13D, none of the Reporting Persons have effected any transaction in the shares of Common Stock during the past 60 days.</transactionDesc>
        <listOfShareholders>No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Subject Shares.</listOfShareholders>
        <date5PercentOwnership>Not applicable.</date5PercentOwnership>
      </item5>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>Framework Ventures IV L.P.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Michael Ernest Anderson</signature>
          <title>Michael Ernest Anderson / Authorized Signatory</title>
          <date>04/30/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Framework Ventures Management LLC</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Michael Ernest Anderson</signature>
          <title>Michael Ernest Anderson / Authorized Signatory</title>
          <date>04/30/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Framework Ventures IV GP LLC</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Michael Ernest Anderson</signature>
          <title>Michael Ernest Anderson / Authorized Signatory</title>
          <date>04/30/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Spencer Vance</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Vance Spencer</signature>
          <title>Vance Spencer</title>
          <date>04/30/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Anderson Michael Ernest</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Michael Ernest Anderson</signature>
          <title>Michael Ernest Anderson</title>
          <date>04/30/2026</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
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