Safe & Green Holdings Corp. - SGBX STOCK NEWS

Safe & Green Holdings Corp. (NASDAQ: SGBX) has entered into a warrant inducement agreement with a single investor, resulting in $2.4 million in gross proceeds. The investor agreed to exercise existing warrants to purchase 2,758,620 shares at a reduced price of $0.8718 per share. In exchange, the investor received new warrants to purchase 5,517,240 shares, exercisable at $0.8718 per share with a five-year expiration after stockholder approval. Aegis Capital Corp. served as the exclusive financial advisor for this transaction.

Safe & Green Holdings (NASDAQ: SGBX) has announced that its subsidiary, SG Echo, has completed two major projects for a U.S. government contractor. The contracts involved manufacturing 45 container-style office units (15 units in one order and 30 in another) for U.S. military operations. These modular office solutions were designed from shipping containers to provide flexible, 'plug-and-play' temporary offices, meeting strict safety and quality standards. The project demonstrated SG Echo's rapid production capabilities and commitment to delivering American-made modular solutions efficiently.

Safe & Green Holdings Corp. (NASDAQ: SGBX) announces that its subsidiary, Safe and Green Development (SG Devco), has accepted a preliminary binding purchase commitment from Trio, acting for Choctaw American Insurance, Inc., for a development project in South Texas. The commitment includes:

1. Sale of the first 5 homes, expected to generate approximately $1,000,000 in revenue.
2. Potential purchase of up to 14 homes, generating sales of approximately $2,800,000.
3. Trio to purchase a maximum of 40% of lots within a subdivision.
4. Individual Purchase and Sale Agreements required for each home sale.
5. Closings to occur within 14 days of homes being ready for occupancy.

Paul Galvin, CEO of Safe & Green Holdings, emphasized the importance of their ecosystem in supporting SG Devco's goals through design, manufacturing, and installation capabilities.

Safe & Green Holdings Corp. (NASDAQ: SGBX) has successfully refinanced its Waldron facility in Durant, Oklahoma, securing a new $4 million loan. This strategic move provides the company with an additional $1 million compared to the previous loan, featuring more favorable terms and a lower interest rate. The refinancing aims to free up working capital, support growing customer demand, and facilitate expansion strategies.

Key points:

• The new loan underscores the real-world value of Safe & Green Holdings' assets
• It provides greater flexibility for operational expansion
• The refinancing is non-dilutive to shareholders
• The Waldron factory in Durant, Oklahoma, operates on a 58,000 square foot facility

This financial maneuver aligns with the company's strategy to capitalize on opportunities and secure additional capital to support its growth initiatives in the modular solutions industry.

Safe & Green Holdings Corp. (NASDAQ: SGBX) reported Q2 2024 results, highlighting significant improvements in profitability and operational efficiency. Key points include:

- Record sales pipeline exceeding $25 million
- Gross profit margin increased to 12.7% from 0.7% in Q2 2023
- Operating expenses reduced by 48% year-over-year
- On track for positive cash flow before year-end
- Revenue of $1.3 million, down from $5.1 million in Q2 2023
- Net loss of ($3.9) million, improved from ($5.6) million in Q2 2023
- Adjusted EBITDA loss of ($1.4) million, improved from ($2.3) million in Q2 2023

The company secured new contracts, expanded existing agreements, and implemented cost-saving measures, positioning itself for growth in H2 2024.

Safe & Green Holdings Corp. (NASDAQ: SGBX) has announced a potential refinancing deal for its Waldron facility, replacing the previously planned sale-leaseback transaction. The new terms are expected to be highly favorable, allowing the company to:

• Pay off more expensive existing debt
• Gain over $1 million in additional working capital
• Retain ownership of the flagship facility

Additionally, the company anticipates receiving a $1.4 million Employee Retention Tax Credit payment within the next year, further boosting its non-dilutive working capital. These financial moves aim to strengthen the company's position and support its growth strategy in the modular solutions industry.

Safe & Green Holdings Corp. (NASDAQ: SGBX) has promoted David Cross to Executive Vice President of SG Echo, . Cross, a Maine Maritime Academy graduate, has a background in maritime operations and innovative container-based construction. His expertise led to the first recognition of recycled materials use by the International Code Council.

Cross has testified before the U.S. Congress on containerized applications for emergency response at FEMA's request. Paul Galvin, CEO of Safe & Green Holdings, praised Cross's dedication and innovative approach, expressing confidence in his future contributions. Cross aims to foster success among team members in his new role.

Safe & Green Holdings Corp. specializes in modular and container-based structures, offering solutions for various industries. The company's subsidiary, Safe and Green Development , focuses on real estate development using prefabricated modules from SG Holdings' factories.

Safe & Green Holdings Corp. (NASDAQ: SGBX) has promoted David Cross to Executive Vice President of SG Echo, Cross, a Maine Maritime Academy graduate, brings extensive experience in container-based construction and innovative design methodologies. His career highlights include:

- Pioneering the use of containers as construction materials
- Developing code-compliant, engineered structures from shipping containers
- Achieving recognition from the International Code Council for recycled materials use
- Testifying before U.S. Congress on containerized applications for emergency response

Paul Galvin, CEO of Safe & Green Holdings, praised Cross's dedication and innovative approach, expressing confidence in his future contributions to the company's growth and success.

Safe & Green Holdings Corp. (NASDAQ: SGBX) has successfully completed its annual audit for 2024/2025, maintaining its ESR certification for using shipping containers in modular construction. This certification, first received in 2017, is issued by the International Code Council (ICC) Evaluation Service and is important for regulatory approval and code compliance.

The ESR certification allows SGBX to continue certifying intermodal containers as approved building materials in their projects. This evaluation program has been instrumental in mainstreaming the use of intermodal containers in construction, with SGBX at the forefront of this innovation.