Framework Ventures Management LLC 4
4 · Stablecoin Development Corp · Filed May 19, 2026
Research Summary
AI-generated summary of this filing
Stablecoin Development (SDEV) 10% Owner Framework Ventures Buys Warrants
What Happened
Framework Ventures IV L.P. (reported as a 10% owner) purchased 50,109,253 pre-funded warrants of Stablecoin Development Corp (SDEV) on January 16, 2026, paying $0.85 per warrant for a total of about $42,592,865. This was a purchase of derivative securities (pre-funded warrants), not an immediate purchase of common stock.
Key Details
- Transaction date and type: January 16, 2026 — Purchase (code P) of pre-funded warrants (derivative).
- Price and value: 50,109,253 warrants at $0.85 each; total ≈ $42.6 million.
- Exercise schedule (per footnote): warrants exercisable on a tiered basis — 20% on July 16, 2026; 30% on October 16, 2026; remaining 50% on January 16, 2027. Warrants have no expiration date.
- Reverse split: All figures reflect a 1-for-5 reverse stock split effective February 20, 2026.
- Beneficial ownership note: The filing states the securities may also be deemed beneficially owned by related Framework entities and individuals (Framework GP, Framework Management, Vance Spencer, Michael E. Anderson), who disclaim ownership except for any pecuniary interest.
- Filing timeliness: The Form 4 covers the Jan 16, 2026 transaction but was filed on May 19, 2026 — the report appears to have been filed late (reported transactionTimeliness = L).
- Shares owned after transaction: Not specified in the provided filing.
Context:
Pre-funded warrants are derivative instruments that allow the holder to acquire common shares later (here on a tiered schedule); they are effectively a purchase of the right to receive shares upon exercise. This was an institutional/investor purchase by a 10% owner (not an executive sale), and the filing’s late submission delays public disclosure of the trade. The transaction is factual disclosure only and does not indicate management’s intentions or company performance.
Insider Transaction Report
- Purchase
Pre-Funded Warrants (Right to Buy)
[F1][F2]2026-01-16$0.85/sh+50,109,253$42,592,865→ 50,109,253 totalExercise: $0.05→ Common Stock (50,109,253 underlying)
Footnotes (2)
- [F1]On January 16, 2026, the Issuer issued and sold to Framework Ventures IV L.P. pre-funded warrants(the "Pre-Funded Warrants") to purchase an aggregate 50,109,253 shares of the Issuer's Common Stock. The purchase price was $0.85 per warrant. The Pre-Funded Warrants have no expiration date and are exercisable for shares of Common Stock on a tiered basis, with 20% of the Pre-Funded Warrants becoming exercisable on July 16, 2026, 30% of the Pre-Funded Warrants becoming exercisable on October 16, 2026 and the remaining 50% of the Pre-Funded Warrants becoming exercisable on January 16, 2027. All figures presented reflect the Issuer's 1-for-5 reverse stock split that became effective on February 20, 2026.
- [F2]The reported securities may also be deemed to be beneficially owned by Framework Ventures GP IV LLC("Framework GP"), Framework Ventures Management LLC ("Framework Management"), Vance Spencer ("Mr. Spencer") and Michael Ernest Anderson ("Mr. Anderson" and together with Framework GP, Framework Management, Mr. Spencer and the Reporting Person, the "Framework Entities"), each of which or whom disclaim beneficial ownership of these shares, except to the extent of its or his pecuniary interest in such shares, if any. Framework GP is the general partner of the Reporting Person. Framework Management is the investment manager for Framework GP. Mr. Spencer and Mr. Anderson are members and the managers of Framework GP and the managing members of Framework Management.