Safe & Green Development Corp. Files 8-K for Material Agreement

TL;DR

SGC enters new material agreement, details TBD.

AI Summary

Safe & Green Development Corp. entered into a material definitive agreement on November 18, 2024. The company, incorporated in Delaware, filed a Form 8-K to report this event. 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 is a standard 8-K for a material agreement, but the lack of specific details about the agreement introduces uncertainty.

Key Players & Entities

• Safe & Green Development Corp. (company) — Registrant
• November 18, 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
• $10,000 — t, the Company has agreed to contribute $10,000 to the Joint Venture as an initial capi
• $39,000 — provides that Milk & Honey will receive $39,000 for each lot of land sold by the Joint
• $34,000 — provides that Milk & Honey will receive $34,000 for each lot of land sold by the Second

Filing Documents

• ea0222318-8k_safe.htm (8-K) — 38KB
• ea022231801ex10-1_safe.htm (EX-10.1) — 199KB
• ea022231801ex10-2_safe.htm (EX-10.2) — 157KB
• ex10-1_001.jpg (GRAPHIC) — 13KB
• ex10-1_002.jpg (GRAPHIC) — 76KB
• ex10-2_001.jpg (GRAPHIC) — 13KB
• ex10-2_002.jpg (GRAPHIC) — 63KB
• 0001213900-24-101586.txt ( ) — 855KB
• sgd-20241118.xsd (EX-101.SCH) — 3KB
• sgd-20241118_lab.xml (EX-101.LAB) — 33KB
• sgd-20241118_pre.xml (EX-101.PRE) — 22KB
• ea0222318-8k_safe_htm.xml (XML) — 4KB

01. Entry Into a Material Definitive

Item 1.01. Entry Into a Material Definitive Agreement. On November 18 2024, the Company entered into a Joint Venture Agreement (the "JV Agreement") with Milk & Honey LLC, a Texas limited liability company ("Milk & Honey"), for the purpose of establishing a joint venture to be conducted under the name of Hacienda Olivia Phase III LLC (the "Joint Venture") for the purpose of developing and constructing single family homes on twelve (12) acres of land representing 77 lots located in Hidalgo County, Texas (the "Land"). Each of the Company and Milk & Honey are referred to as a "Joint Venturer" and collectively are referred to as the "Joint Venturers." The Company is the manager of the Joint Venture. Pursuant to the JV Agreement, the Company has agreed to contribute $10,000 to the Joint Venture as an initial capital contribution, and Milk & Honey has agreed to contribute the Land to the Joint Venture. The JV Agreement further provides that the Company shall make such other capital contributions required to enable the Joint Venture to carry out its purposes as the Joint Venturers may mutually agree upon, shall provide construction financing for the Joint Venture and shall arrange for or provide any financing as may be required by the Joint Venture for carrying out the purposes of the Joint Venture. The JV Agreement provides that the Company will have a 60% interest and Milk & Honey will have a 40% interest in the Joint Venture. In addition, it provides that Milk & Honey will receive $39,000 for each lot of land sold by the Joint Venture, and that after the payment of such amount, net profits of the Joint Venture will be distributed 50% to the Company and 50% to Milk & Honey, and that all losses and disbursements in acquiring, holding and protecting the business interest and the net profits of the Joint Venture will be paid by the Joint Venturers, in the ratio which the contribution of each Joint Venturer bears to the ownership interest in the Joint Venture. The JV Agr

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* Joint Venture Agreement, dated November 18, 2024 10.2* Joint Venture Agreement, dated November 18, 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. 2

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: November 22, 2024 By: /s/ Nicolai Brune Name: Nicolai Brune Title: Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR