Safe & Green Holdings Faces Delisting Concerns
Ticker: OLOX · Form: 8-K · Filed: Nov 22, 2024 · CIK: 1023994
Sentiment: bearish
Topics: delisting, listing-standards, compliance
Related Tickers: SGLD
TL;DR
SGLD might get delisted - stock exchange rules are a problem.
AI Summary
Safe & Green Holdings Corp. filed an 8-K on November 22, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The earliest event reported was November 18, 2024. The company was formerly known as SG Blocks, Inc.
Why It Matters
This filing indicates potential issues with Safe & Green Holdings Corp.'s compliance with stock exchange listing requirements, which could impact its stock's tradability and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's continued trading on an exchange.
Key Players & Entities
- SAFE & GREEN HOLDINGS CORP. (company) — Registrant
- SG BLOCKS, INC. (company) — Former company name
- November 18, 2024 (date) — Earliest event reported
- November 22, 2024 (date) — Date of report
FAQ
What specific listing rule or standard has Safe & Green Holdings Corp. failed to satisfy?
The filing does not specify the exact rule or standard that has not been met, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What is the exact date of the earliest event reported in this 8-K filing?
The earliest event reported is November 18, 2024.
When was this 8-K form filed with the SEC?
This 8-K form was filed on November 22, 2024.
What was Safe & Green Holdings Corp. formerly known as?
Safe & Green Holdings Corp. was formerly known as SG Blocks, Inc.
What is the company's state of incorporation and IRS number?
The company is incorporated in Delaware and its IRS Employer Identification Number is 95-4463937.
Filing Stats: 594 words · 2 min read · ~2 pages · Grade level 13 · Accepted 2024-11-22 16:52:21
Key Financial Figures
- $0.01 — ch Registered Common Stock, par value $0.01 SGBX The Nasdaq Stock Market LLC
- $2.5 million — intain stockholders' equity of at least $2.5 million or meet the alternative compliance stan
Filing Documents
- ea0222252-8k_safe.htm (8-K) — 25KB
- 0001213900-24-101653.txt ( ) — 196KB
- sgbx-20241118.xsd (EX-101.SCH) — 3KB
- sgbx-20241118_lab.xml (EX-101.LAB) — 33KB
- sgbx-20241118_pre.xml (EX-101.PRE) — 22KB
- ea0222252-8k_safe_htm.xml (XML) — 4KB
01 Notice of
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing On November 18, 2024, Safe & Green Holdings Corp. (the "Company") received a letter (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC (the "Staff") indicating that the Company was no longer in compliance with the minimum stockholders equity requirement (the "Minimum Stockholders Equity Requirement") for continued listing on The Nasdaq Capital Market ("Nasdaq") pursuant to Nasdaq Listing Rule 5550(b)(1), which requires listed companies to maintain stockholders' equity of at least $2.5 million or meet the alternative compliance standards relating to the market value of listed securities or net income from continuing operations. Unless the Company appeals Nasdaq's decision, trading of the Company's common stock will be suspended at the opening of business on November 27, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company's securities from listing and registration on The Nasdaq Capital Market. Accordingly, on November 21, 2024, the Company submitted an appeal of the Nasdaq Staff determination to Nasdaq's Hearing Panel (the "Panel") pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. The hearing request will stay the suspension of the Company's securities and the filing of the Form 25-NSE pending the Panel's decision. There can be no assurance that the Panel will grant the Company's request for continued listing. 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: November 22, 2024 By: /s/ Patricia Kaelin Name: Paticia Kaelin Title: Chief Financial Officer 2