SAFE & GREEN HOLDINGS CORP. Enters Material Definitive Agreement
Ticker: OLOX · Form: 8-K · Filed: Feb 12, 2024 · CIK: 1023994
| Field | Detail |
|---|---|
| Company | Safe & Green Holdings CORP. (OLOX) |
| Form Type | 8-K |
| Filed Date | Feb 12, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $187,500, $375,000 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: material-agreement, corporate-action
TL;DR
**SGHC just signed a big deal, details pending, could be a game-changer.**
AI Summary
SAFE & GREEN HOLDINGS CORP. filed an 8-K on February 12, 2024, reporting an "Entry into a Material Definitive Agreement" on February 9, 2024. This filing indicates a significant new contract or partnership that could impact the company's future operations and financial performance. Investors should pay close attention to the details of this agreement, as it could signal new revenue streams or strategic shifts for the company, potentially affecting its stock value.
Why It Matters
This filing signals a new, important agreement for SAFE & GREEN HOLDINGS CORP., which could significantly alter its business prospects and financial outlook. The specifics of this agreement will determine its impact on the company's growth and profitability.
Risk Assessment
Risk Level: medium — The filing indicates a material agreement but lacks specific details, creating uncertainty about its potential positive or negative impact on the company.
Analyst Insight
A smart investor would await further disclosures regarding the specifics of this 'Material Definitive Agreement' before making any investment decisions, as the current filing lacks the necessary details to assess its impact.
Key Players & Entities
- SAFE & GREEN HOLDINGS CORP. (company) — the registrant filing the 8-K
- February 9, 2024 (date) — date of the earliest event reported
- February 12, 2024 (date) — date the 8-K was filed
- 001-38037 (other) — Commission File Number
Forward-Looking Statements
- SAFE & GREEN HOLDINGS CORP. will release further details about the Material Definitive Agreement. (SAFE & GREEN HOLDINGS CORP.) — high confidence, target: Q1 2024
FAQ
What was the specific nature of the "Material Definitive Agreement" entered into by SAFE & GREEN HOLDINGS CORP. on February 9, 2024?
The filing states that SAFE & GREEN HOLDINGS CORP. entered into a "Material Definitive Agreement" on February 9, 2024, but it does not provide specific details about the nature of this agreement, such as the parties involved, the terms, or the subject matter.
Why did SAFE & GREEN HOLDINGS CORP. file this 8-K under Item 1.01?
SAFE & GREEN HOLDINGS CORP. filed this 8-K under Item 1.01 because it pertains to an "Entry into a Material Definitive Agreement," which is a significant event requiring disclosure under SEC regulations.
What is the business address of SAFE & GREEN HOLDINGS CORP. as listed in the filing?
The business address of SAFE & GREEN HOLDINGS CORP. is listed as 990 Biscayne Blvd #501, Office 12, Miami, FL 33132.
What is the telephone number for SAFE & GREEN HOLDINGS CORP. according to the filing?
The telephone number for SAFE & GREEN HOLDINGS CORP. is 646-240-4235.
What was the former name of SAFE & GREEN HOLDINGS CORP. before its most recent name change?
The filing indicates that a former name of SAFE & GREEN HOLDINGS CORP. was SG BLOCKS, INC., with a date of name change on 20111122.
Filing Stats: 590 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-02-12 16:30:12
Key Financial Figures
- $0.01 — ch Registered Common Stock, par value $0.01 SGBX The Nasdaq Stock Market LLC
- $187,500 — and Green Development Corporation: (i) $187,500 of the Company's common stock; (ii) $18
- $375,000 — (ii) $187,500 cash payment; and (iii) a $375,000 promissory note bearing interest at a r
Filing Documents
- ea193441-8k_safeandgreen.htm (8-K) — 27KB
- 0001213900-24-012609.txt ( ) — 200KB
- sgbx-20240209.xsd (EX-101.SCH) — 3KB
- sgbx-20240209_lab.xml (EX-101.LAB) — 33KB
- sgbx-20240209_pre.xml (EX-101.PRE) — 22KB
- ea193441-8k_safeandgreen_htm.xml (XML) — 4KB
01. Entry Into a Material Definitive
Item 1.01. Entry Into a Material Definitive Agreement. On February 9, 2024, Safe & Green Holdings Corp. (the "Company") entered into a Settlement and Release Agreement (the "Settlement agreement") with Maxim Group LLC (together with its parents, subsidiaries and affiliates, "Maxim") wherein the Company agreed, contingent upon the closing of a current proposed best efforts offering, to pay the following consideration in settlement of amounts owed to Maxim in connection with the spin-off of Safe and Green Development Corporation: (i) $187,500 of the Company's common stock; (ii) $187,500 cash payment; and (iii) a $375,000 promissory note bearing interest at a rate of 5% with a maturity date of the twelve month anniversary of the issuance date. The foregoing description of the Settlement Agreement does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Settlement Agreement, a copy of which is included as Exhibit 10.1 hereto and incorporated herein by reference.
01. Financial Statements and
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Settlement and Release Agreement dated February 9, 2024 by and between the Company and Maxim Group LLC (incorporated by reference to Exhibit 10.82 to the Registration Statement on Form S-1/A as filed by the Registrant with the Securities and Exchange Commission on February 12, 2024 (File No. 333-276732)). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Safe & Green Holdings Corp. Dated: February 12, 2024 By: /s/ Patricia Kaelin Name: Patricia Kaelin Title: Chief Financial Officer 2