Safe & Green Development Corp. Faces Delisting Concerns
Ticker: RENX · Form: 8-K · Filed: Oct 24, 2024 · CIK: 1959023
| Field | Detail |
|---|---|
| Company | Safe & Green Development Corp (RENX) |
| Form Type | 8-K |
| Filed Date | Oct 24, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, listing-rules
Related Tickers: SGD
TL;DR
SGD might get kicked off NASDAQ - big trouble ahead.
AI Summary
Safe & Green Development Corp. (NASDAQ: SGD) filed an 8-K on October 24, 2024, reporting a notice of delisting or failure to satisfy continued listing rules. The company's principal executive offices are located at 100 Biscayne Blvd., #1201, Miami, FL 33132. The filing indicates potential issues with meeting NASDAQ's listing requirements.
Why It Matters
This filing signals potential financial distress or non-compliance with exchange rules, which could lead to the company's stock being removed from NASDAQ, impacting investor liquidity and valuation.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's ability to trade on a major exchange, posing a significant risk to its operations and investors.
Key Players & Entities
- Safe & Green Development Corp. (company) — Registrant
- NASDAQ (company) — Stock Exchange
- October 22, 2024 (date) — Earliest event reported
- October 24, 2024 (date) — Filing date
- 100 Biscayne Blvd., #1201 Miami, FL 33132 (address) — Principal Executive Offices
FAQ
What specific listing rule or standard has Safe & Green Development 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 earliest event date reported in this 8-K filing?
The earliest event date reported is October 22, 2024.
What is the principal executive office address for Safe & Green Development Corp.?
The principal executive offices are located at 100 Biscayne Blvd., #1201, Miami, FL 33132.
What is the Commission File Number for Safe & Green Development Corp.?
The Commission File Number is 001-41581.
What is the Standard Industrial Classification (SIC) code for Safe & Green Development Corp.?
The Standard Industrial Classification code is 6500, which corresponds to Real Estate.
Filing Stats: 562 words · 2 min read · ~2 pages · Grade level 12.2 · Accepted 2024-10-24 09:05:26
Key Financial Figures
- $0.001 — ch Registered Common Stock, par value $0.001 SGD The Nasdaq Stock Market LLC I
- $1.00 — the Company's common stock has been at $1.00 per share or greater. Accordingly, the
Filing Documents
- ea0218421-8k_safe.htm (8-K) — 27KB
- ea0218421ex99-1_safe.htm (EX-99.1) — 7KB
- image_001.jpg (GRAPHIC) — 13KB
- 0001213900-24-090151.txt ( ) — 228KB
- sgd-20241022.xsd (EX-101.SCH) — 3KB
- sgd-20241022_lab.xml (EX-101.LAB) — 33KB
- sgd-20241022_pre.xml (EX-101.PRE) — 22KB
- ea0218421-8k_safe_htm.xml (XML) — 4KB
01 Notice of Delisting or Failure to
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On October 22, 2024, Safe and Green Development Corporation (the "Company"), received a a notice (the "Notification Letter") from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that the Staff has determined that for 10 consecutive business days, from October 8, 2024 to October 21, 2024, the closing bid price of the Company's common stock has been at $1.00 per share or greater. Accordingly, the Staff has determined that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and has indicated that the matter is now closed. On October 24, 2024, the Company issued a press release announcing that the Company received the Notification Letter and regained compliance with Nasdaq's minimum bid price requirement. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
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 99.1 Press Release, dated October 24, 2024 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within in 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 and Green Development Corporation Dated: October 24, 2024 By: /s/ Nicolai Brune Name: Nicolai Brune Title: Chief Financial Officer 2