Safe & Green Holdings Receives $390 Thousand in Net Proceeds from Sale of Common Shares to an Institutional Investor
30 November 2023 - 4:20PM
Business Wire
Safe & Green Holdings Corp. (NASDAQ: SGBX) (“Safe &
Green Holdings” or the “Company”), a leading developer,
designer, and fabricator of modular structures for residential,
commercial, and point-of-care medicine, reported that the Company
will receive approximately $390,000 of net proceeds from the sale
of approximately 658,000 common shares to a single institutional
investor. No new warrants were issued in connection with the
transaction.
“We have been very judicious in the issuance of new shares, in
order to minimize dilution,” stated Paul Galvin, Chairperson and
CEO of Safe & Green Holdings. “Towards this end, we have
successfully leveraged debt financing to help grow our business.
Nevertheless, we believe this small equity infusion will help
further accelerate our manufacturing and construction services
growth, as well as support exciting new growth initiatives underway
within our other divisions.”
About Safe & Green Holdings Corp.
Safe & Green Holdings Corp., a leading modular solutions
company, operates under core capabilities which include the
development, design, and fabrication of modular structures, meeting
the demand for safe and green solutions across various industries.
The firm supports third-party and in-house developers, architects,
builders, and owners in achieving faster execution, greener
construction, and buildings of higher value. The Company’s
subsidiary, Safe and Green Development Corporation, is a leading
real estate development company. Formed in 2021, it focuses on the
development of sites using purpose-built, prefabricated modules
built from both wood and steel, sourced from one of SG Holdings’
factories and operated by the SG Echo subsidiary. For more
information, visit https://www.safeandgreenholdings.com/ and follow
us at @SGHcorp on Twitter.
Safe Harbor Statement
Certain statements in this press release constitute
"forward-looking statements" within the meaning of the federal
securities laws. Words such as "may," "might," "will," "should,"
"believe," "expect," "anticipate," "estimate," "continue,"
"predict," "forecast," "project," "plan," "intend" or similar
expressions, or statements regarding intent, belief, or current
expectations, are forward-looking statements. These forward-looking
statements are based upon current estimates and assumptions and
include statements regarding the small equity infusion helping to
further accelerate the Company’s manufacturing and construction
services growth, as well as supporting exciting new growth
initiatives underway within the Company’s other divisions. These
forward-looking statements are subject to various risks and
uncertainties, many of which are difficult to predict that could
cause actual results to differ materially from current expectations
and assumptions from those set forth or implied by any
forward-looking statements. Important factors that could cause
actual results to differ materially from current expectations
include, among others, the Company’s ability to realize anticipated
growth, the effect of government regulation, the Company’s ability
to maintain compliance with the NASDAQ listing requirements, and
the other factors discussed in the Company’s Annual Report on Form
10-K for the year ended December 31, 2022 and its subsequent
filings with the SEC, including subsequent periodic reports on
Forms 10-Q and 8-K. The information in this release is provided
only as of the date of this release, and we undertake no obligation
to update any forward-looking statements contained in this release
on account of new information, future events, or otherwise, except
as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20231130119396/en/
Investor Relations: Crescendo Communications, LLC (212)
671-1020 sgbx@crescendo-ir.com
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