Safe & Green Holdings Corp. Enters Material Definitive Agreement
Ticker: OLOX · Form: 8-K · Filed: Dec 31, 2024 · CIK: 1023994
Sentiment: neutral
Topics: material-agreement, financial-obligation
Related Tickers: SGH
TL;DR
SGH just signed a big deal, creating a new financial obligation. Details in the filing.
AI Summary
Safe & Green Holdings Corp. entered into a material definitive agreement on December 24, 2024. This agreement creates a direct financial obligation for the registrant. The filing also includes financial statements and exhibits.
Why It Matters
This filing indicates a significant new financial commitment or obligation for Safe & Green Holdings Corp., which could impact its financial standing and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce financial risks and operational changes that warrant careful consideration.
Key Players & Entities
- SAFE & GREEN HOLDINGS CORP. (company) — Registrant
- December 24, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of Incorporation
- 001-38037 (identifier) — SEC File Number
- 95-4463937 (identifier) — IRS Number
FAQ
What is the nature of the material definitive agreement entered into by Safe & Green Holdings Corp. on December 24, 2024?
The filing states that Safe & Green Holdings Corp. entered into a material definitive agreement on December 24, 2024, which creates a direct financial obligation for the registrant. Specific details of the agreement are not provided in this summary.
What type of financial obligation has been created for Safe & Green Holdings Corp.?
The filing indicates the creation of a 'Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant'.
What is the filing date for this 8-K report?
This 8-K report was filed on December 31, 2024.
What was Safe & Green Holdings Corp. formerly known as?
Safe & Green Holdings Corp. was formerly known as SG Blocks, Inc., CDSI HOLDINGS INC, and PC411 INC.
What is the primary business of Safe & Green Holdings Corp. according to its SIC code?
According to its Standard Industrial Classification (SIC) code, Safe & Green Holdings Corp. is in the 'WHOLESALE-LUMBER & OTHER CONSTRUCTION MATERIALS' industry.
Filing Stats: 618 words · 2 min read · ~2 pages · Grade level 11 · Accepted 2024-12-30 18:13:09
Key Financial Figures
- $0.01 — ch Registered Common Stock, par value $0.01 SGBX The Nasdaq Stock Market LLC
- $203,000 — ich SG Building Blocks sold to Merchant $203,000 of its future receivables for a purchas
- $140,000 — ure receivables for a purchase price of $140,000, less underwriting fees and expenses pa
- $126,000 — ees and expenses paid, for net funds of $126,000. Pursuant to the Cash Advance Agreemen
- $5,000 — ement, Merchant is expected to withdraw $5,000 per week directly from SG Building Bloc
Filing Documents
- ea0226353-8k_safe.htm (8-K) — 27KB
- ea022635301ex10-1_safe.htm (EX-10.1) — 8KB
- ex10-1_001.jpg (GRAPHIC) — 265KB
- ex10-1_002.jpg (GRAPHIC) — 424KB
- ex10-1_003.jpg (GRAPHIC) — 436KB
- ex10-1_004.jpg (GRAPHIC) — 441KB
- ex10-1_005.jpg (GRAPHIC) — 426KB
- ex10-1_006.jpg (GRAPHIC) — 348KB
- ex10-1_007.jpg (GRAPHIC) — 454KB
- ex10-1_008.jpg (GRAPHIC) — 446KB
- ex10-1_009.jpg (GRAPHIC) — 433KB
- ex10-1_010.jpg (GRAPHIC) — 367KB
- ex10-1_011.jpg (GRAPHIC) — 77KB
- ex10-1_012.jpg (GRAPHIC) — 150KB
- 0001213900-24-113582.txt ( ) — 6086KB
- sgbx-20241224.xsd (EX-101.SCH) — 3KB
- sgbx-20241224_lab.xml (EX-101.LAB) — 33KB
- sgbx-20241224_pre.xml (EX-101.PRE) — 22KB
- ea0226353-8k_safe_htm.xml (XML) — 4KB
01 Entry into a Material Definitive
Item 1.01 Entry into a Material Definitive Agreement. On December 24, 2024, SG Building Blocks, Inc. ("SG Building Blocks"), a wholly owned subsidiary of Safe & Green Holdings Corp. (the "Company"), entered into a Cash Advance Agreement ("Cash Advance Agreement") with Cedar Advance LLC ("Merchant") pursuant to which SG Building Blocks sold to Merchant $203,000 of its future receivables for a purchase price of $140,000, less underwriting fees and expenses paid, for net funds of $126,000. Pursuant to the Cash Advance Agreement, Merchant is expected to withdraw $5,000 per week directly from SG Building Blocks' bank account until the $203,000 due to Merchant under the Cash Advance Agreement is paid. In the event of a default (as defined in the Cash Advance Agreement), Merchant, among other remedies, can demand payment in full of all amounts remaining due under the Cash Advance Agreement. The foregoing description of the Cash Advance Agreement is qualified in its entirety by reference to the full text of the Cash Advance Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein in its entirety by reference.
03 Creation of a Direct Financial Obligation
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits Exhibit Number Description 10.1 Standard Cash Advance Agreement, dated December 24, 2024, by and between SG Building Blocks, Inc. and Cedar Advance LLC 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: December 30, 2024 By: /s/ Patricia Kaelin Name: Paticia Kaelin Title: Chief Financial Officer 2