Safe & Green Development Corp. Files Material Definitive Agreement

TL;DR

SGC just signed a big deal, details TBD.

AI Summary

Safe & Green Development Corp. entered into a material definitive agreement on August 30, 2024. The company, incorporated in Delaware, is involved in real estate and construction. The filing does not disclose specific details of the agreement or any associated dollar amounts.

Why It Matters

This filing indicates a significant new contract or partnership for Safe & Green Development Corp., which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — The filing reports a material definitive agreement, but lacks specific details, creating uncertainty about its implications.

Key Players & Entities

• Safe & Green Development Corp. (company) — Registrant
• August 30, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• 646 - 240-4235 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.001 — ch Registered Common Stock, par value $0.001 SGD The Nasdaq Stock Market LLC I
• $0.01 — f Common Stock, at an exercise price of $0.01 per share, (the "Warrant Shares" and to
• $250,000 — the second tranche ("Second Tranche"), $250,000 divided by the simple average of the da
• $500,000 m — tial Commitment Fee Shares is less than $500,000 measured during a specified period and th
• $250,000 m — nche Commitment Fee Shares is less than $250,000 measured during a specified period. In a
• $100,000 — t, the Company has agreed to contribute $100,000 to the Joint Venture as an initial capi

Filing Documents

• ea0213803-8k_safe.htm (8-K) — 38KB
• ea021380301ex10-1_safe.htm (EX-10.1) — 17KB
• ea021380301ex10-2_safe.htm (EX-10.2) — 123KB
• ex10-2_001.jpg (GRAPHIC) — 41KB
• ex10-2_002.jpg (GRAPHIC) — 7KB
• ex10-2_003.jpg (GRAPHIC) — 6KB
• ex10-2_004.jpg (GRAPHIC) — 99KB
• 0001213900-24-076564.txt ( ) — 591KB
• sgd-20240830.xsd (EX-101.SCH) — 3KB
• sgd-20240830_lab.xml (EX-101.LAB) — 33KB
• sgd-20240830_pre.xml (EX-101.PRE) — 22KB
• ea0213803-8k_safe_htm.xml (XML) — 4KB

01. Entry Into a Material Definitive

Item 1.01. Entry Into a Material Definitive Agreement. Amendment to ELOC Purchase Agreement On August 30, 2024, Safe and Green Development Corporation (the "Company") and Arena Business Solutions Global SPC II, LTD ("Arena Global") entered into an amendment (the "Amendment") to the purchase agreement dated August 12, 2024 (as amended, the "ELOC Purchase Agreement). The Amendment revises the manner in which the Company's obligation to issue shares of the Company's common stock, par value $0.001 per share (the "Common Stock"), to Arena Global as a commitment fee is determined. The Amendment provides that the Company issue or cause to be issued to Arena Global, in two separate tranches, that number of Common Stock equal to (i) with respect to the first tranche (the "First Tranche"): 925,000 shares of Common Stock together with a warrant to purchase 1,075,000 shares of Common Stock, at an exercise price of $0.01 per share, (the "Warrant Shares" and together with the 925,000 shares of Common Stock issued to Arena Global, the "Initial Commitment Fee Shares") and (ii) with respect to the second tranche ("Second Tranche"), $250,000 divided by the simple average of the daily VWAP (as defined in the ELOC Purchase Agreement) of the Company's Common Stock during the five (5) trading days immediately preceding the three month anniversary (the "Anniversary") of the effectiveness of the registration statement on which the Initial Commitment Fee Shares are registered (the "Second Tranche Price"), promptly (but in no event later than one (1) trading day) after the Anniversary (the "Second Tranche Commitment Fee Shares," and together with the Initial Commitment Fee Shares, the "Commitment Fee Shares")." The Amendment also has a provision that provides for the issuance of additional shares of Common Stock as commitment fee shares in the event the value of the Initial Commitment Fee Shares is less than $500,000 measured during a specified period and the value of the Second Tranch

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits The following exhibits are filed with this Current Report on Form 8-K: Exhibit Number Exhibit Description 10.1 Amendment to Purchase Agreement, dated August 30, 2024 10.2* Joint Venture Agreement, dated September 2, 2024 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) * Exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to furnish supplementally a copy of any omitted exhibit to the SEC upon request. 3

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 and Green Development Corporation Dated: September 6, 2024 By: /s/ Nicolai Brune Name: Nicolai Brune Title: Chief Financial Officer 4

View Full Filing

View this 8-K filing on SEC EDGAR