Framework Ventures updates Stablecoin stake after split
Stablecoin Development Corp’s large shareholder group, including Framework Ventures IV L.P., updated its ownership to reflect a reverse stock split and warrant adjustments.
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Form Type
4/A
Rhea-AI Filing Summary
Stablecoin Development Corp’s large shareholder group, including Framework Ventures IV L.P., updated its ownership to reflect a reverse stock split and warrant adjustments. The filing shows a derivative conversion into 11,361,216 shares of Common Stock and direct ownership of that amount after the transaction.
The group also holds Pre-Funded Warrants exercisable for 11,332,020 shares of Common Stock at a conversion price of $0.01 per share. The warrants were adjusted for anti-dilution protections and a 1-for-5 reverse stock split and have no expiration date, allowing exercise at any time.
Insider Trade Summary
Net Buyer: 11,332,020 shares
Net Buy
2 txns
Insider
Framework Ventures IV L.P., Framework Ventures Management LLC, Framework Ventures IV GP LLC, Spencer Vance, Anderson Michael Ernest
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
Bought
11,332,020 shs ($0.00)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Common Stock | 11,361,216 | $0.00 | $0.00 |
| Purchase | Pre-Funded Warrants (Right to Buy) | 11,332,020 | $0.00 | $0.00 |
Holdings After Transaction:
Pre-Funded Warrants (Right to Buy) — 11,332,020 contracts (Direct);
Common Stock — 11,361,216 shares (Direct)
Footnotes (3)
- F1. This amendment updates the beneficial ownership of the Reporting Persons to reflect the Issuer's 1-for-5 reverse stock split (the "Reverse Stock Split") that became effective on February 20, 2026, pursuant to which the number of shares of Common Stock held by the Reporting Persons was adjusted from 56,806,080 to 11,361,216.
- F2. This amendment updates the beneficial ownership of the Reporting Persons to reflect anti-dilution adjustments under the pre-funded warrants issued by the Issuer to Framework Ventures IV L.P. and other investors on October 16, 2025 (the "Pre-Funded Warrants"). As a result of dilutive issuances of the Issuer's Common Stock during the fourth quarter of 2025, the anti-dilution adjustments of the Pre-Funded Warrants increased the Reporting Person's aggregate number of shares of Common Stock issuable upon exercise of the Pre-Funded Warrants to 56,660,098 on a pre-Reverse Stock Split basis, which was adjusted to 11,332,020 on a post-Reverse Stock Split basis.
- F3. The Pre-Funded Warrants have no expiration date and are exercisable for shares of Common Stock at any time.
Key Figures
Common Stock owned after transaction: 11,361,216 shares
Pre-Funded Warrants underlying shares post-split: 11,332,020 shares
Reverse stock split ratio: 1-for-5
+2 more
5 metrics
Common Stock owned after transaction
11,361,216 shares
Beneficial ownership after reverse stock split adjustment
Pre-Funded Warrants underlying shares post-split
11,332,020 shares
Shares of Common Stock issuable upon exercise
Reverse stock split ratio
1-for-5
Adjusted 56,806,080 shares to 11,361,216 shares
Pre-Funded Warrant exercise price
$0.01 per share
Conversion price for Common Stock under Pre-Funded Warrants
Pre-split warrant underlying shares
56,660,098 shares
Common Stock issuable before 1-for-5 reverse stock split
Key Terms
reverse stock split, Pre-Funded Warrants, anti-dilution adjustments, beneficial ownership
4 terms
reverse stock split financial
"reflect the Issuer's 1-for-5 reverse stock split (the "Reverse Stock Split") that became effective"
A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.
Pre-Funded Warrants financial
"pre-funded warrants issued by the Issuer to Framework Ventures IV L.P. and other investors"
Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.
anti-dilution adjustments financial
"the anti-dilution adjustments of the Pre-Funded Warrants increased the Reporting Person's aggregate number of shares"
Anti-dilution adjustments are changes made to the ownership stakes or value of an investment to protect investors from having their shares become less valuable if the company issues new shares at a lower price. Imagine buying a piece of a pie, and then the pie is cut into more slices without increasing in size—these adjustments help ensure your slice still retains its worth. They matter to investors because they help preserve the value of their investment when the company’s share price drops.
beneficial ownership financial
"This amendment updates the beneficial ownership of the Reporting Persons to reflect the Issuer's 1-for-5 reverse stock split"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider activity did Framework Ventures report in SDEV (NBY) Form 4/A?
Framework Ventures and related entities reported a derivative conversion into 11,361,216 shares of Common Stock. They also disclosed updated holdings of Pre-Funded Warrants and Common Stock after a 1-for-5 reverse stock split and anti-dilution adjustments.
What are the terms of the Pre-Funded Warrants held in SDEV (NBY)?
The Pre-Funded Warrants are exercisable for 11,332,020 shares of Common Stock at a conversion price of $0.01 per share. According to the disclosure, these warrants have no expiration date and can be exercised for Common Stock at any time.
How did the reverse stock split affect Framework’s SDEV ownership?
A 1-for-5 reverse stock split reduced the reported Common Stock from 56,806,080 shares to 11,361,216 shares. This mechanical adjustment changed the share count but not the proportional ownership, and the Form 4/A updates the reported figures accordingly.
What anti-dilution adjustments were applied to the SDEV Pre-Funded Warrants?
Anti-dilution adjustments increased the Pre-Funded Warrants’ underlying Common Stock to 56,660,098 shares before the reverse split. After the 1-for-5 reverse stock split, this amount was adjusted to 11,332,020 shares of Common Stock issuable upon exercise of the Pre-Funded Warrants.
Are the SDEV Pre-Funded Warrants subject to an expiration date?
The Pre-Funded Warrants have no expiration date. The disclosure states they are exercisable for shares of Common Stock at any time, giving the holder ongoing flexibility over when to convert them into Common Stock.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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